Birmingham & Solihull have been given a boost in their plans to secure ownership of their Portway headquarters after the trustees of the debenture holders who have owned the site since 2008 agreed to its sale.
Chris Loughran, chairman of Birmingham & Solihull, said in a statement: “At a meeting convened last night (Monday 6th July) by the Trustees of the Debenture Holders (“MEETING OF THE HOLDERS OF SECURED LOAN NOTES 2008 IN RESPECT OF THE BIRMINGHAM & SOLIHULL RUGBY FOOTBALL CLUB LIMITED In Liquidation”) a number of proposals relating to the future of the Portway site were voted upon.
“As a result of that meeting, I am delighted to report that the Debenture Holders have voted to allow the sale of the land on which Birmingham & Solihull Rugby Club currently occupies at Portway.
“This means that plans can now be set in motion to purchase the land and to place it in beneficial ownership, thereby facilitating the long term development of rugby at Portway.
“Supporters of the Bees will no doubt be aware that since 2009 the management team at the club has been working hard behind the scenes to secure the beneficial ownership of the Portway site, without any encumbrances outstanding from the old failed organisation. Last night’s vote therefore represents a very significant milestone in, what has at times been, a long and tortuous journey.
“When various legal formalities are concluded, in simple terms we will finally be able to call Portway “our home”. Equally importantly, we will also be able to start planning with an appropriate degree of certainty the future development of the site for the benefit of our rugby club.
“I would like to take this opportunity to express my thanks to the Trustees of the Debenture Holders Clive Henderson and John James for the work that they have put in to help secure this outcome, as well as the club’s Legal Director Terry Dickson and his colleagues at Emms, Gilmore, Liberson.”