Trust Submits ACV Order Regarding Banks's Stadium Site
Walsall Supporters Trust have today released a statement regarding the submission of an ACV order to Walsall Council regarding the land that Banks's Stadium resides on (and everything within the boundaries of the site).
An ACV order (Asset of Community Value) is there to protect the site as they believe the site to be of importance to the community's social well-being and/or social interest (cultural, recreational and/or sporting)
Should Walsall council agree to the submission then the the land will be listed as an asset of the community value and should the land come up for sale on the open market then the ACV will ensure that the community or groups within the community will be given a chance to bid for the asset.
The submission will only 'improve' the chances of asset of being purchased by the community and doesn't guarantee that the owner will agree to sell to the community.
Earlier this year Oxford United Trust became the first to protect the Kassam Stadium following uncertainty regarding the lands future. The initial bid was rejected by the council in 2013 but earlier this year their second bid was accepted, giving Oxford fans a sense of relief that the stadium is protected somehow should the owner wish to sell the land.
Oxford Trust stated that it would give the club 'six months' to find the money to purchase the land or six months for the club to reconsider their options with the introduction of the ACV order with Oxford City Council.
The Walsall Supporters Trust have stated that they will release a further statement once they have received confirmation from WMBC regarding the outcome of the application.