Stockport Council has completed the purchase of Edgeley Park, securing its future as the home of the football club following rumours of a sale to property developers who proposed demolishing the ground.
According to a statement from the council, contracts have been signed and all due diligence requirements for the purchase have been finalised.
Edgeley Park was bought from Cheshire Sport Promotions, owned by Brian Kennedy who acquired the club in 2003 and later sold it to its fans, retaining the ground. Kennedy made his fortune through conservatories and windows business. Other companies include Patrick Properties.
The council said that it had purchased Edgeley Stadium for the benefit of the club and the people of Stockport. The council will now work with the football club to review its lease of the stadium.
Cllr Iain Roberts, deputy leader of Stockport Council, said: “This is a genuinely commercial arrangement which will enable a landlord-tenant relationship to be set-up between the Council and Stockport County Football Club. This purchase is on a cost neutral basis and will therefore not cost Stockport Council taxpayers a penny.
“The council, will not, at any stage, be providing financial support to the football club. We have bought the ground in order to provide stability for the team to remain in Stockport. We want to see the club progress both on and off the field and hope that this will help to secure its longer term future.”