Former York City Football Club stadium sold off for £7m

York City Football Club has completed the £7m sale of its former stadium at Bootham Crescent to Persimmon Homes Ltd.

The sale has allowed the club to pay off both the Football Stadia Improvement Fund and the city council, which had assisted through the provision of historical funding which has allowed the club to contribute significantly to the cost of building the new LNER Community Stadium.

The balance after payment of project related costs has been used to pay off a capped element of the capital invested by JM Packaging Ltd. All interest accrued on that capital, as well as part of the capital itself, is being written off by JMP.

JMP has struck a funding agreement to ensure funds will be made available to the club for the remainder of the season. JMP says it is prepared to provide further funding beyond this date if required and if agreed with the Supporters’ Trust.

James Bradley, of Knights plc, acted as legal advisor to Bootham Crescent Holdings Limited in relation to the sale. Savills and Aspect4 acted on the price negotiations with Persimmon. The club was represented by Stephen Baylis, of Parisi Solicitors Ltd.

Planning permission was secured in August 2020 for 93 homes on the Bootham Crescent site.