Walsall, UK, December 16, 2022 – Walsall Football Club (WFC) is very pleased to announce that it has today executed its option to acquire Poundland Bescot Stadium.
The club is now the owner of the stadium, the Saddlers Club, and the adjoining land, and rental payments which have been paid by the club for over 30 years will discontinue immediately.
The acquisition of the stadium was a key component of the transaction on May 31, 2022, in which Trivela Group acquired majority stake in the football club from Leigh Pomlett. At that time, it was agreed that Trivela would provide additional debt and equity financing to facilitate the purchase of the stadium on or before May 31, 2024.
“Today is a landmark day in the life of the football club,” said Benjamin Boycott, the club’s Co-Chairman. “As of today, the club owns its own stadium after decades of tenancy. The club’s home for the future in the town is secure. The club owes a tremendous debt of gratitude today to Mr. Pomlett, who has now delivered on his promise from 2019 to facilitate a situation where the club would be reunited with the freehold.
“More than anything, the club owes a debt of gratitude today to its supporters, who have ultimately made this moment possible. They have stood behind this club throughout high points and low points on the pitch, multiple ownership changes, a global pandemic and, of course, uncertainty around the stadium. Today, they can finally say that their club has a permanent home.”
This transaction was executed pursuant to an option agreement negotiated between Mr. Pomlett and previous owner Mr. Bonser at the time of Mr. Pomlett’s acquisition of the club in 2019. It was executed with a conservative mix of debt and equity financing, with the financing provided by First Southern National Bank in the United States. Additional shares have been issued to Trivela Group in exchange for a substantial injection of equity, necessary for the purchase. Simultaneous to this transaction, Trivela has also acquired additional shares from Mr. Pomlett, and now holds approximately 90% of the total share capital of the football club.
“I am very excited to see this come to fruition,” said Mr. Pomlett. “The relationship that the club and community has built with Ben and Trivela has been extremely positive, and today is a momentous occasion in our history. As a lifelong supporter of the club, I can honestly say that today is one of the most important occasions in recent memory.”
“I’d encourage every Walsall supporter to join us at our upcoming matches to celebrate this occasion,” said Boycott. “I am very proud of the progress that Michael and the team are making on the pitch – they are putting in tremendous effort and have been rewarded with a string of good results. Today is a new chapter in the long and proud history of Walsall FC and an exciting day for all of us, and as I have said before, I firmly believe that our best days as a football club and as a town lie ahead of us.”