Lancashire TelegraphBurnley to buy back Turf Moor (From Lancashire Telegraph)

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Burnley to buy back Turf Moor

Lancashire Telegraph: Burnley Football club is bidding to reclaim ownership of Turf Moor Burnley Football club is bidding to reclaim ownership of Turf Moor

BURNLEY are bidding to reclaim ownership of Turf Moor and Gawthorpe, by setting up a holding company.

Clarets co-chairmen John Banaszkiewicz and Mike Garlick have enlisted the support from private investors in an effort to buy back their 130-year-old ground, and training base, which have been owned by Longside Properties Ltd since 2004.

As a result, shareholders are set to be invited to transfer their shares from Burnley Football & Athletic Company Ltd (BFAC) to the new parent company, Burnley FC Holdings Ltd (BFCH), on a one-for-one swap basis as part of a restructure required under the terms of the financial regulatory authority.

Once the bond issue is completed, shareholders who accept the offer will then own shares in the company which owns both the football company and the property company.

Banaszkiewicz, who has been the driving force behind the plan, said: “We are delighted to be announcing this first step in the repurchase of Turf Moor and Gawthorpe, which marks the start of a new era in our illustrious history.

“This arrangement enables us to protect Turf Moor and Gawthorpe from the uncertainties of the football industry and its finances, which we have all seen hit other clubs very hard in recent years.”

Turf Moor was rented on a 99-year lease following a sale in 2004 to Longside Properties, of which then chairman Barry Kilby was a founding director. That deal was said to be worth close to £4m.

Longside Properties is now owned by Lionbridge, a company which is registered in the British Virgin Islands.

In order to protect the long-term security of the club and its assets, Burnley now plan to issue a bond – fully secured against the properties and paid back over seven years with interest – to bring the assets back under the umbrella of the club's new group.

A number of supporters have already pledged significant six-figure sums to this bond, in order to meet the asking price for Turf Moor and Gawthorpe, which is thought to be only a fraction over the fee it was originally sold for nine years ago.

Banaszkiewicz added: “Having examined all the options, the board is confident that a bond issue represents the most cost effective finance option and enables a section of our fans to play a part in bringing our spiritual home back under the control of the club.

“In football today, it is important to maintain a progressive approach to training and development of players.

“This includes having a quality infrastructure and by re-acquiring the stadium and the training ground, we can ensure that we continue on the path to constant improvement. “Additionally, buying both Turf Moor and Gawthorpe back makes sense financially and operationally for our long-term future plans.

“It will eventually see an end to rental payments and put the club on a firmer financial footing.”

The planning and development of the bond issue has been undertaken with support from FIS Chief Financial Officer Paul Smith and Burnley Football Club employees Ken Stout and Anthony Fairclough.

  • See tomorrow's LT for more on this story.

Comments (28)

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12:36pm Thu 10 Jan 13

steralc says...

Well done Burnley
Can only be good news
The club being run and owned by true Burnley fans
Not like somewhere close I could write
UTC
Well done Burnley Can only be good news The club being run and owned by true Burnley fans Not like somewhere close I could write UTC steralc
  • Score: 0

12:38pm Thu 10 Jan 13

Keen O to Get Kean Out says...

true Burnley fans ? where ?
true Burnley fans ? where ? Keen O to Get Kean Out
  • Score: 0

12:54pm Thu 10 Jan 13

ChiRho says...

I suppose this is good news for Burnley FC, but what exactly does he mean when he says illustrious history ?
I suppose this is good news for Burnley FC, but what exactly does he mean when he says illustrious history ? ChiRho
  • Score: 0

1:14pm Thu 10 Jan 13

burnleyglentoran says...

ChiRho wrote:
I suppose this is good news for Burnley FC, but what exactly does he mean when he says illustrious history ?
FA cup winners

Champions of England.

You know, stuff like that mate.

Very good to see the British flag flying over the Turf in the picture.

Which country's flag is over Bol-Ewood!!!!?????

BFC - TOP DOGS IN EAST LANCASHIRE
[quote][p][bold]ChiRho[/bold] wrote: I suppose this is good news for Burnley FC, but what exactly does he mean when he says illustrious history ?[/p][/quote]FA cup winners Champions of England. You know, stuff like that mate. Very good to see the British flag flying over the Turf in the picture. Which country's flag is over Bol-Ewood!!!!????? BFC - TOP DOGS IN EAST LANCASHIRE burnleyglentoran
  • Score: 1

1:35pm Thu 10 Jan 13

merlinrabbit says...

I wondered what those guys were doing outside Jobcentre Plus in Burnley this morning, walking round with their flat caps begging
I wondered what those guys were doing outside Jobcentre Plus in Burnley this morning, walking round with their flat caps begging merlinrabbit
  • Score: 0

1:53pm Thu 10 Jan 13

jack01 says...

All sounds very dodgy to me. Who are these people who have control of Turf Moor via a British Virgin Islands company? At least at Ewood we know who ultimately controls everything at the club. Methinks there have been some very suspicious 'deals' going on at Burnley in recent years that may never become public knowledge. Where did all the parachute money go?
All sounds very dodgy to me. Who are these people who have control of Turf Moor via a British Virgin Islands company? At least at Ewood we know who ultimately controls everything at the club. Methinks there have been some very suspicious 'deals' going on at Burnley in recent years that may never become public knowledge. Where did all the parachute money go? jack01
  • Score: 0

1:57pm Thu 10 Jan 13

burnleyglentoran says...

jack01 wrote:
All sounds very dodgy to me. Who are these people who have control of Turf Moor via a British Virgin Islands company? At least at Ewood we know who ultimately controls everything at the club. Methinks there have been some very suspicious 'deals' going on at Burnley in recent years that may never become public knowledge. Where did all the parachute money go?
"Where did all the parachute money go?"

On Shebby Singh's salary!!!!!!!!!!!!!!


NO NAY NEVER
[quote][p][bold]jack01[/bold] wrote: All sounds very dodgy to me. Who are these people who have control of Turf Moor via a British Virgin Islands company? At least at Ewood we know who ultimately controls everything at the club. Methinks there have been some very suspicious 'deals' going on at Burnley in recent years that may never become public knowledge. Where did all the parachute money go?[/p][/quote]"Where did all the parachute money go?" On Shebby Singh's salary!!!!!!!!!!!!!! NO NAY NEVER burnleyglentoran
  • Score: 0

2:05pm Thu 10 Jan 13

Blackburn fans love horses says...

merlinrabbit wrote:
I wondered what those guys were doing outside Jobcentre Plus in Burnley this morning, walking round with their flat caps begging
Signing on were you?

Facecombing Blackburn hovel-dweller.
[quote][p][bold]merlinrabbit[/bold] wrote: I wondered what those guys were doing outside Jobcentre Plus in Burnley this morning, walking round with their flat caps begging[/p][/quote]Signing on were you? Facecombing Blackburn hovel-dweller. Blackburn fans love horses
  • Score: 0

2:17pm Thu 10 Jan 13

TodClaret says...

burnleyglentoran wrote:
jack01 wrote:
All sounds very dodgy to me. Who are these people who have control of Turf Moor via a British Virgin Islands company? At least at Ewood we know who ultimately controls everything at the club. Methinks there have been some very suspicious 'deals' going on at Burnley in recent years that may never become public knowledge. Where did all the parachute money go?
"Where did all the parachute money go?"

On Shebby Singh's salary!!!!!!!!!!!!!!



NO NAY NEVER
Ha ha, brilliant. So you're now saying that Venkys are a shining example of how to conduct business just to have a dig at us are you? It's common practice for firms to be owned by offshore holding companies. Still we wouldn't expect you to understand international finance or joined up writing, for that matter. UTC!
[quote][p][bold]burnleyglentoran[/bold] wrote: [quote][p][bold]jack01[/bold] wrote: All sounds very dodgy to me. Who are these people who have control of Turf Moor via a British Virgin Islands company? At least at Ewood we know who ultimately controls everything at the club. Methinks there have been some very suspicious 'deals' going on at Burnley in recent years that may never become public knowledge. Where did all the parachute money go?[/p][/quote]"Where did all the parachute money go?" On Shebby Singh's salary!!!!!!!!!!!!!! NO NAY NEVER[/p][/quote]Ha ha, brilliant. So you're now saying that Venkys are a shining example of how to conduct business just to have a dig at us are you? It's common practice for firms to be owned by offshore holding companies. Still we wouldn't expect you to understand international finance or joined up writing, for that matter. UTC! TodClaret
  • Score: 0

2:28pm Thu 10 Jan 13

8 Ball Deluxe says...

Buying for landfill
Buying for landfill 8 Ball Deluxe
  • Score: 0

2:49pm Thu 10 Jan 13

TodClaret says...

Wouldn't shebby say " landfill, you know"? I heard his interview on radio Blackburn last week, priceless! You lot must think your club is really well run you know, if you have to come on here passing on your words of wisdom, you know
Wouldn't shebby say " landfill, you know"? I heard his interview on radio Blackburn last week, priceless! You lot must think your club is really well run you know, if you have to come on here passing on your words of wisdom, you know TodClaret
  • Score: 0

2:55pm Thu 10 Jan 13

8 Ball Deluxe says...

TodClaret wrote:
Wouldn't shebby say " landfill, you know"? I heard his interview on radio Blackburn last week, priceless! You lot must think your club is really well run you know, if you have to come on here passing on your words of wisdom, you know
Save on LANDFILL use your club, brilliant idea.
Its about time your fantastic polish owner ploididacakakowski actually owned the club you keep going on about instead of coming on here and owning nothing but the name PMSL
Dick Van Dyke will be pleased to have a old bamboo venue for next years christmas panto
[quote][p][bold]TodClaret[/bold] wrote: Wouldn't shebby say " landfill, you know"? I heard his interview on radio Blackburn last week, priceless! You lot must think your club is really well run you know, if you have to come on here passing on your words of wisdom, you know[/p][/quote]Save on LANDFILL use your club, brilliant idea. Its about time your fantastic polish owner ploididacakakowski actually owned the club you keep going on about instead of coming on here and owning nothing but the name PMSL Dick Van Dyke will be pleased to have a old bamboo venue for next years christmas panto 8 Ball Deluxe
  • Score: 0

2:59pm Thu 10 Jan 13

TodClaret says...

People in glass houses and all that, you know
People in glass houses and all that, you know TodClaret
  • Score: 0

3:18pm Thu 10 Jan 13

Blackburn fans love horses says...

8 Ball Deluxe wrote:
TodClaret wrote:
Wouldn't shebby say " landfill, you know"? I heard his interview on radio Blackburn last week, priceless! You lot must think your club is really well run you know, if you have to come on here passing on your words of wisdom, you know
Save on LANDFILL use your club, brilliant idea.
Its about time your fantastic polish owner ploididacakakowski actually owned the club you keep going on about instead of coming on here and owning nothing but the name PMSL
Dick Van Dyke will be pleased to have a old bamboo venue for next years christmas panto
Ha ha - yeah you keep coming on here with your pathetic posts, we all know that you and your fellow inbred goons are dead behind the eyes after the shambles that is going on at your beloved Blackburn.

Turf Moor to be owned by Burnley supporters whereas Blackburn is owned by the biggest set of numpties EVER to get involved in football.

Venkys are **** brilliant
[quote][p][bold]8 Ball Deluxe[/bold] wrote: [quote][p][bold]TodClaret[/bold] wrote: Wouldn't shebby say " landfill, you know"? I heard his interview on radio Blackburn last week, priceless! You lot must think your club is really well run you know, if you have to come on here passing on your words of wisdom, you know[/p][/quote]Save on LANDFILL use your club, brilliant idea. Its about time your fantastic polish owner ploididacakakowski actually owned the club you keep going on about instead of coming on here and owning nothing but the name PMSL Dick Van Dyke will be pleased to have a old bamboo venue for next years christmas panto[/p][/quote]Ha ha - yeah you keep coming on here with your pathetic posts, we all know that you and your fellow inbred goons are dead behind the eyes after the shambles that is going on at your beloved Blackburn. Turf Moor to be owned by Burnley supporters whereas Blackburn is owned by the biggest set of numpties EVER to get involved in football. Venkys are **** brilliant Blackburn fans love horses
  • Score: 0

3:46pm Thu 10 Jan 13

8 Ball Deluxe says...

You know what they say, you can't polish a Turd but it looks like you can buy one.
You know what they say, you can't polish a Turd but it looks like you can buy one. 8 Ball Deluxe
  • Score: 0

4:01pm Thu 10 Jan 13

TodClaret says...

Yep, for many rupees by the sounds of it, you know
Yep, for many rupees by the sounds of it, you know TodClaret
  • Score: 0

4:21pm Thu 10 Jan 13

leonm987 says...

34 years!
34 years! leonm987
  • Score: 0

4:23pm Thu 10 Jan 13

Blackburn fans love horses says...

3 years
3 years Blackburn fans love horses
  • Score: 0

4:23pm Thu 10 Jan 13

leonm987 says...

34 years!
34 years! leonm987
  • Score: 0

4:36pm Thu 10 Jan 13

Blackburn fans love horses says...

3 years
3 years Blackburn fans love horses
  • Score: 0

5:16pm Thu 10 Jan 13

owd nick says...

I can't think why anyone would want to own a slag heap.
I can't think why anyone would want to own a slag heap. owd nick
  • Score: 0

5:25pm Thu 10 Jan 13

TodClaret says...

I heard that chicken cottage were interested until they opened a shop on Bolton Road in Blackburn instead
I heard that chicken cottage were interested until they opened a shop on Bolton Road in Blackburn instead TodClaret
  • Score: 0

6:38pm Thu 10 Jan 13

jack01 says...

TodClaret wrote:
burnleyglentoran wrote:
jack01 wrote:
All sounds very dodgy to me. Who are these people who have control of Turf Moor via a British Virgin Islands company? At least at Ewood we know who ultimately controls everything at the club. Methinks there have been some very suspicious 'deals' going on at Burnley in recent years that may never become public knowledge. Where did all the parachute money go?
"Where did all the parachute money go?"

On Shebby Singh's salary!!!!!!!!!!!!!!




NO NAY NEVER
Ha ha, brilliant. So you're now saying that Venkys are a shining example of how to conduct business just to have a dig at us are you? It's common practice for firms to be owned by offshore holding companies. Still we wouldn't expect you to understand international finance or joined up writing, for that matter. UTC!
Tell me how many other football league grounds are owned by shady, anonymous offshore tax haven based companies?
[quote][p][bold]TodClaret[/bold] wrote: [quote][p][bold]burnleyglentoran[/bold] wrote: [quote][p][bold]jack01[/bold] wrote: All sounds very dodgy to me. Who are these people who have control of Turf Moor via a British Virgin Islands company? At least at Ewood we know who ultimately controls everything at the club. Methinks there have been some very suspicious 'deals' going on at Burnley in recent years that may never become public knowledge. Where did all the parachute money go?[/p][/quote]"Where did all the parachute money go?" On Shebby Singh's salary!!!!!!!!!!!!!! NO NAY NEVER[/p][/quote]Ha ha, brilliant. So you're now saying that Venkys are a shining example of how to conduct business just to have a dig at us are you? It's common practice for firms to be owned by offshore holding companies. Still we wouldn't expect you to understand international finance or joined up writing, for that matter. UTC![/p][/quote]Tell me how many other football league grounds are owned by shady, anonymous offshore tax haven based companies? jack01
  • Score: 0

8:30pm Thu 10 Jan 13

claret pheonix says...

jack01 wrote:
TodClaret wrote:
burnleyglentoran wrote:
jack01 wrote:
All sounds very dodgy to me. Who are these people who have control of Turf Moor via a British Virgin Islands company? At least at Ewood we know who ultimately controls everything at the club. Methinks there have been some very suspicious 'deals' going on at Burnley in recent years that may never become public knowledge. Where did all the parachute money go?
"Where did all the parachute money go?"

On Shebby Singh's salary!!!!!!!!!!!!!!





NO NAY NEVER
Ha ha, brilliant. So you're now saying that Venkys are a shining example of how to conduct business just to have a dig at us are you? It's common practice for firms to be owned by offshore holding companies. Still we wouldn't expect you to understand international finance or joined up writing, for that matter. UTC!
Tell me how many other football league grounds are owned by shady, anonymous offshore tax haven based companies?
Didn't your uncle jack walker live on a offshore tax haven . Pot , kettle , black .
[quote][p][bold]jack01[/bold] wrote: [quote][p][bold]TodClaret[/bold] wrote: [quote][p][bold]burnleyglentoran[/bold] wrote: [quote][p][bold]jack01[/bold] wrote: All sounds very dodgy to me. Who are these people who have control of Turf Moor via a British Virgin Islands company? At least at Ewood we know who ultimately controls everything at the club. Methinks there have been some very suspicious 'deals' going on at Burnley in recent years that may never become public knowledge. Where did all the parachute money go?[/p][/quote]"Where did all the parachute money go?" On Shebby Singh's salary!!!!!!!!!!!!!! NO NAY NEVER[/p][/quote]Ha ha, brilliant. So you're now saying that Venkys are a shining example of how to conduct business just to have a dig at us are you? It's common practice for firms to be owned by offshore holding companies. Still we wouldn't expect you to understand international finance or joined up writing, for that matter. UTC![/p][/quote]Tell me how many other football league grounds are owned by shady, anonymous offshore tax haven based companies?[/p][/quote]Didn't your uncle jack walker live on a offshore tax haven . Pot , kettle , black . claret pheonix
  • Score: 0

8:41pm Thu 10 Jan 13

Howe2win says...

Brilliant news and a great example of how very well run Burnley Football Club is, well done! UTC
Brilliant news and a great example of how very well run Burnley Football Club is, well done! UTC Howe2win
  • Score: 0

10:09pm Thu 10 Jan 13

TodClaret says...

Isn't venkys a shady offshore company then?
Isn't venkys a shady offshore company then? TodClaret
  • Score: 0

10:19pm Thu 10 Jan 13

8 Ball Deluxe says...

At least the ground will only cost £13.80 and a packet of pork scratchings
At least the ground will only cost £13.80 and a packet of pork scratchings 8 Ball Deluxe
  • Score: 0

9:08am Fri 11 Jan 13

claret pheonix says...

8 Ball Deluxe wrote:
At least the ground will only cost £13.80 and a packet of pork scratchings
Blah blah blah sure bores up stiff 8 ball.
[quote][p][bold]8 Ball Deluxe[/bold] wrote: At least the ground will only cost £13.80 and a packet of pork scratchings[/p][/quote]Blah blah blah sure bores up stiff 8 ball. claret pheonix
  • Score: 0

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