West Brom have once again reaffirmed that they have no intentions of selling The Hawthorns as Sandwell Council confirmed that the Asset of Community Value status had been granted.
Albion's minority shareholders S4A had applied for Albion's home to be recognised as an ACV in what is an uncertain period for the club. An Asset of Community Value is a building, or land, which is considered to further the social wellbeing and or social interests in its local community. The Localism Act detailed that 'social interests' extend to sporting and recreational interests.
Albion, hypothetically, would have to notify Sandwell Council if they were to put the ground up for sale within the five-year listing period. As is their right, through the Community Right to Bid, S4A would then be offered in the first instance the opportunity to buy it on any such proposed terms - in that sense, the ACV acts as another layer of protection.
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What the ACV doesn't do, however, is prevent Albion from using The Hawthorns as security as an asset against a loan - which Albion have done this winter when they entered into a £20m loan with MSD Holdings shortly before Christmas.
The ACV in this instance concerns The Hawthorns, its car park - including where the old Woodman pub once stood - and the sports hall which the Albion Foundation occupies on Halfords Lane. It excludes, though, the land where the Greggs shop - used as a Fan Zone - is based and also the club's academy.
“We are pleased the ACV has now been granted. We offered our full support to Sandwell Council and Shareholders for Albion throughout the application process, and I would like to thank all parties for their contributions," said Albion chief executive Ron Gourlay.
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“At no point have there been any plans to sell The Hawthorns - it is our home – but an ACV adds a further layer of protection to the site to secure it for future generations of Albion fans, and that is really important.”
Tony McGovern, Director of Regeneration and Growth at Sandwell Council, said: “The stadium is an iconic location in Sandwell and has a long history with the local community that delivers a wide range of social, economic and sporting benefits. In addition, the facility promotes social wellbeing and is a critical part of the identity of the local area.
“The decision to list the locations as an ACV was because The Hawthorns stadium site currently and historically over many decades has acted as an important asset of community value which delivers significant community benefits in the form of sporting, cultural and recreational activities.
“There are two elements of the proposal that did not meet the criteria (Greggs Retail outlet and the Club Academy) and so have been excluded from listing as an Asset of Community Value”.
What do you make of the decision? Have your say in the comments section...
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