Russon on the Return of the Leases

In a long interview with BBC Hereford and Worcester, Tim Russon has given some more details about this evening's news that Hereford United have re-gained the Edgar Street lease from Carillion-Richardson and also settled the £1m plus debt.

"To get a really clear future for the club we had to get the leases back so we can now do what we want with the Blackfriars End," said the Hereford United vice-chairman.

"The old plan was subject to previous deals with landlords but this is an opportunity to do something different.

"After many years the club has now come out of debt and we have agreed to buy back the leases from Carillion Richardsons, who have been holding them for some years now.

"It means the club now has a clear run to the future. The leases are now back in our name and the long-term debt of just over a million pounds has been cleared and settled.

"As the chairman David Keyte has said, it is a landmark for Hereford United."

In the late 1990's, the then board had to go to developers to keep the club running. In time the leases and the debt passed to Richardsons Capital who are in partnership with Carillion.

Russon feels that by being out of debt and having the first lease on the ground from Herefordshire Council is a step well worth taking.

"We have already had initial talks with the local council and the next step is for us to negotiate new long-term leases," he continued.

"We are looking at 100 years-plus because we need both the security for the football club to play here and then the next step after that is to start looking at ways to redevelop the Blackfriars End.

"We need that long-term lease in order to attract commercial partners who will need that future to be able to invest in the club," he added.

"We care desperately about the plight we are in at the moment and will be doing everything we can to make sure we lift ourselves up the table.

"But we have our future in our hands and we can go out and do something special for this ground and in years to come that will benefit what is on the pitch."

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