Council completed the freehold purchase of Volair Park for £300,000 and granted
the club a 99-year lease.
is owned by its fans, will now pay an annual rent of £12,000.
took action in after Cables were told by their landlord they could not extend
As such, the
club faced expulsion from the league.
will ensure the local authority will recover the "cost of purchase and
generate additional funds" in the years to come, the council said.
Graham Morgan told https://prescotcablesafc.com: "Prescot Cables Football
Club has been a huge part of the town since 1884 and it would have been a
terrible blow if the club had to close its doors.
as we knew the club was experiencing difficulties over the lease, we have been
in discussions with them to help find a solution."
Fans can buy
shares in the club for £5 per year.
Doug Lace said: "The Board of Directors are delighted that we have been
able to sign this new lease agreement which will secure our long-term future
here in Prescot.
been playing at the ground since 1906 but we have never before had the security
of a 99-year lease".