£4.3m loans written off in council's deal

AUTHORITY SAYS LOSS IS OFFSET BY LAND ACQUISITION

- By ABIGAIL MARLOW

KIRKLEES Council has written off £4.3m in loans as part of the recent deal for the Accu Stadium.

Last week, we reported that a landmark agreement had been reached between Huddersfield Town, Kirklees Council and the Huddersfield Giants for the future of the Accu Stadium. This saw the football club take full operational control of the venue and surrounding 53-acre site with immediate effect.

Huddersfield Town is now the stadium's sole, 100 per cent shareholder. Before the deal was done, the stadium - previously known as the John Smith's - had been owned and managed by Kirklees Stadium Development Limited (KSDL), with shares previously held in the company by Kirklees Council (40 per cent), Huddersfield Town Association Football Club (40 per cent), and Huddersfield Giants Rugby League Football Club (20 per cent).

For some time, Kirklees Council had made it clear that it wanted out of the business side of things, though it has kept the freehold to the site in a 300-year leasehold agreement. This will ultimately protect the future usage of the land.