| We are pleased to report on positive discussions held with the Club regarding the delay in replacing our existing lease on the Racecourse with legally binding covenants. These were approved by members in December 2023 and the Trust delivered legal form documents to the Club in January 2024. The Club has assured us that the delay in signing the documents is due to the Club having to complete a summer works programme following the redesigned Kop being granted planning permission in March 2025. These changes will require an update to the documents to be signed, and this delay has not had any impact on the timing of the Kop development. The Club also updated the Trust on the extensive works that are currently being undertaken during the close season. These include installation of undersoil heating, pitch replacement, relocation of dugouts and a new TV gantry ahead of our return to Championship football. In addition, a new substation is having to be first constructed and energised to facilitate the Kop development. We do not have an exact timeline for signing the documents, but we anticipate this will take place once all Kop enabling works are completed in late summer or early autumn. We have previously advised the Club that it may take up to three weeks for us to register the documents with the Financial Conduct Authority once signed. As ever, we will keep members updated of any further developments. |
