Buy Saddlers ground not Saddlers Centre, Walsall Council urged

Walsall Football Club has told the Express & Star it would 'welcome discussions' on the sale of the stadium, currently owned by a pension fund, as it looks to safeguard its long term future.

The cash-strapped council is spending more than £13m on the Saddlers Centre, which recorded a loss of nearly £3m in the 2015/16 financial year, while it is understood Walsall Football Club's stadium is available for less than half what the shopping complex would cost with a guaranteed annual income.

There are strong concerns over the council's projected annual income of £835,000 from the shopping centre, given the most recent accounts show the centre made a multi-million pound loss in just one year.

As owners of the stadium Walsall Council would be able to charge Walsall FC in excess of £400,000 per year in rent to play at the ground. The club paid £440,000 last year to the pension fund run by Suffolk Life, of which Walsall chairman Jeff Bonser is a beneficiary.

A source, who did not want to be named, said: "The council is risking all this money on the Saddlers Centre when it could have Walsall's ground for significantly less with an annual income of £400,000.

"The club wants the ground sold and the council need a steady income to invest in the borough's services, it's a win-win."

Councillor Mike Bird, who decided against buying the stadium when he was leader of the council, agreed the current Labour administration should 'certainly explore' the option of buying the stadium.

He said: "I was approached as leader to buy the freehold for the ground but having considered all the facts I decided against it. But saying that as a potential asset the purchase of the ground should certainly be explored now.

"At least the council would be able to buy the freehold, whereas with the Saddlers Centre they are only getting the leasehold."

When approached by the Express & Star, a spokesman from Walsall FC said: "Walsall Football Club would welcome discussions with Walsall Council over the sale of the freehold of the Banks's Stadium.

"As a community-focused club we believe, if the freehold is to be sold, it would be beneficial to keep ownership within the borough and in-turn safeguard the long-term future of the club.”

The potential purchase of the stadium comes as the council is being urged to halt its purchase of the Saddlers Centre by former mayor Pete Smith.

His comments come after the Express & Star revealed the centre made a loss of £2.8m in the 2015/16 financial year.

Walsall Council said: “This issue was considered some years ago and discussions were not progressed. No recent approach to the council has been made about any asset owned by either Mr Bonser or Walsall FC. If a formal approach is made, it would be considered and a response would be made to them.”