BURNLEY Football Club is now back on firm financial footing after all bond holders, who helped in the repurchase of Turf Moor and Gawthorpe, were fully repaid five years early.
The club now fully owns the stadium and the expansive training facilities in nearby Padiham and can therefore redirect £500,000, ring-fenced for interest payments over the next five years, towards squad strengthening or infrastructure improvements.
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Chairman Mike Garlick said: “This excellent news is further evidence that Burnley Football Club is now financially stable and in a healthy position to press ahead with the aim of returning to the Premier League.”
The Burnley FC Bond Holders, a group of supporters who were approached by the club at a testing time five years ago, each invested a significant six-figure sum to help repurchase the 130-year-old stadium and training facility from Longside Properties.
The original plan was to pay back the bond in seven years, with interest.
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