ACCRINGTON Stanley have bought the freehold of their Wham Stadium ground as the next stage of their journey to long-term financial stability.

Chairman and major shareholder Andy Holt has negotiated the purchase of the Livingstone Road ground from Hyndburn Council for £400,000.

He said it was the latest stage in ensuring the future of the club and making it financially sound.

Mr Holt, who has invested millions in the club including the new £1.1m Eric Whalley Stand for away supporters, said: “We are very proud of this achievement and grateful to the council for selling us the freehold.

“It means we now longer have to pay a rent of £23,000 a year to use the ground where we already own the buildings.

“It is a case of fixing the roof when the sun shines and securing the long-term future of the club while things are good.

“It is another stage towards making the club self-sufficient and able to withstand storms in the future.

“I negotiated an option last year and we have paid for it out of transfer money including the £1.6m fee for Kaden Jackson.”

Burnley-born Mr Holt, who owns Whatmore UK on Hyndburn’s Altham Industrial estate, said the club was key part of Accrington and the borough.

The club is now in League One of the Football League, the club's highest placing since it was refounded in 1968.

Mr Holt said the club was now working on the drainage of the pitch after the weekend match with Sunderland was abandoned during torrential rain.

He said: “I would expect some new signings in the January transfer window.

“Hyndburn has been good to me and this is part of putting something back.

“Buying the freehold is for the club, the town and the fans,” said Mr Holt.

Cllr Miles Parkinson, leader of Hyndburn Council, said: “I am delighted at the sale of the freehold of the ground.

“This is about securing the club’s sustainability and future for the town and for the fans.”