The club made an announcement stating that Wrexham AFC and the Wrexham Supporters Trust have finalised the demise of the headlease and underlease of the Racecourse Ground on Monday, 13 July.
The deal will streamline the legal situation of the Racecourse Ground while maintaining necessary guarantees to assure that football will continue to take place at the stadium until 2115. Furthermore, it marks the end of the last remaining legal deal from the period of club’s owner-supporter era.
Even though Wrexham has acquired the freehold of the Racecourse Ground in June 2022, the stadium was still leased by WST Assets and subleased to the football club again. This deal has been terminated.
It is another milestone for the club’s future development as the new Kop stand is under construction now.
Final chapter of supporter ownership
The lease contract goes back to the time when Wrexham Supporters Trust protected not only the football club but also its ground through one of the toughest times in the recent history of the club.
As a condition of the deal, Wrexham AFC has made a payment of £187,000 to the Trust, which is the same amount of money the fans contributed to save the club in 2011.
What has actually changed?
In terms of attending matches for fans, nothing will alter significantly in reality. The ownership of the Racecourse Ground by Wrexham was already freehold after the acquisition in 2022.
Everything is a matter of law. The old head lease and sublease agreements are gone, and the ownership of the club becomes far more simple, but there remain covenants to ensure football can be played at the Racecourse until 2115.
What it means for the Racecourse’s future
Taking away the lease allows Wrexham to move forward with investments at the stadium without any complication in the future.
In its announcement, the club highlighted that further improvements were being carried out in the Kop as part of the pledge made by Rob McElhenney and Ryan Reynolds when taking over the club to make the Racecourse better for the players, employees, and fans.
The fans may not see a big difference during a match day, but one more important matter has been sorted out legally, allowing the Racecourse to have a smooth future.
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