Telford

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From Non League Daily


<!--StartFragment --> Troubled Nationwide Conference club Telford United is being held to ransom by the Bank of Scotland which has seized the lease to the football club's ground, according to commercial director Robin Eaves.

Eaves says the bank is currently only prepared to guarantee the club one year at the New Bucks Head and it needs a ten-year agreement to meet Conference regulations.

Eaves (pictured) said the row with the bank was the only stumbling block to a deal with one of two serious interested buyers. He said neither bidder was prepared to commit until the situation was resolved.

The freehold to the New Bucks Head ground belongs to Telford & Wrekin Council but was leased to the club for a 999-year period six years ago.

It is understood former chairman Andy Shaw's parent company Miras Contracts took out a mortgage on the ground, using the lease as security, in order to pay for the development of the stadium.

Now, with Miras Contracts in receivership, the bank is holding that lease and is at present only prepared to offer the club a one-year term.

Eaves said: "The bank could close the doors today and order us off the land or they could do that at the end of the season.

"They could just cut the grass and keep it looking tidy for the hotel but ban us from playing on it. The one good thing is that the council still owns the freehold and it is sticking adamantly to the line that it will not let the land be built on."

Eaves said there was a consortium and a businessman from outside the area who were both prepared to commit to the club if the lease situation could be resolved.

He said: "The businessman has dealt with football clubs before. He's a football man.

"He is an option and so is the consortium but we have no preference. Both packages would be of benefit to the club.

"But nothing can be sorted out until we get an answer from the bank. If we do, then it could be sorted this week."