Radio Manchester has reported that the Council and RFL have confirmed that they have sold their shares to Dale meaning we have 100% control of the stadium.
Speculation had been growing in the past few weeks that after what feels like many years of negotiations, a deal has finally been agreed to transfer the shares of the stadium back to the football club
It's certainly been a long drawn out affair but the end result is that if reports are true, the shares have been purchased from the council and the RFL. Ther e has at time of writing been nothing official to come from Dale or the Council, but it's believed there may be announcement later on today.
The deal will involve a long term lease allowing Rochdale Hornets to continue to play at Spotland as they have done since the late 1980's.
Update:
The council have since sent out this email:
Council backs deal to secure the long-term future of Spotland stadium
The council has relinquished its shares in the company that owns and manages Spotland stadium so that the long-term future of the sporting facility and the professional clubs that use it can be secured.
The council became one of three shareholders in the company when it was set up in 1991 to safeguard the stadium, which is used by Rochdale’s professional football and rugby league clubs.
The council’s shares have transferred to the stadium company and the original outlay of £100,000 has been recovered. The third shareholder, the Rugby Football League Facilities Trust, has also sold its shares to the stadium company, whose sole remaining shareholder is now Rochdale AFC.
Loans of £529,000 the stadium company has with the council will be consolidated and repaid over nine years at commercial rates, which will help keep professional sport in the borough and reduce exposure to future risk for the council.
Rochdale Hornets Rugby League Football Club has been given a new long-term lease as part of the agreement.
Councillor Richard Farnell, the leader of Rochdale Borough Council, said: "The council has for the past 25 years supported Spotland stadium because we understand its importance to many people in the borough. Having carefully examined the details of Rochdale AFC’s proposal we are assured that it represents a good deal for Rochdale’s biggest sporting organisations and for taxpayers.”