Cheshire East Council has signed an historic deal with Macclesfield Town FC to secure the football club’s future.
The deal was sealed during an urgent special Cabinet meeting at the Council’s Westfield offices in Sandbach, when Cabinet members voted unanimously in favour.
A cheque for immediate funding of £285k, drawn from the Council’s capital budget, was handed over to club representatives. This has established the club as the first senior club in England to become community owned, without first becoming insolvent.
The deal means Cheshire East Council will acquire the freehold of the existing stadium and site so that the club can consolidate its debts. The football club will remain at its current home until a new stadium is built in the future.
The funding will enable the club to convert from a limited company to a community interest company in which members of the public will be offered the opportunity to buy shares in this, making the club truly owned by the local community.
Leader of Cheshire East Council Michael Jones said: “This is the right result for the club, the fans and the people of Macclesfield. Soon the people of Macclesfield will own their very own football club and that can only be a good thing.”