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Herefordshire Council did not produce a due diligence report into Hereford United when they extended the leases. The following question and answer have been submitted (source link) ahead of today's full Council meeting:
Question from Councillor J Knipe
Hereford United Football Ground
4. We are reading a great deal in the press about the re-negotiation of leases on the Edgar Street football ground. I would like to know whether a due diligence report was prepared on behalf of Herefordshire Council to establish the financial credibility of Hereford United prior to the leases being amended in the last year. If a report has been prepared could it be released to avoid unnecessary speculation?
Answer from Councillor H Bramer Cabinet Member Contracts & Assets
Answer to question 4
I understand that the future of football in Hereford is generating a high level of speculation in some quarters. The council has been aware of the situation the football club has been facing for some time and has been doing what it can to support the retention of league football in the county whilst protecting public assets.
The council carried out the appropriate level of due diligence when restructuring the Hereford United Football Club leases, as it would do with any existing long term tenant who is not a new entity; no separate report was prepared at that time. The conditions have not been met to enable the leases to be extended beyond 2044.
