Swindon Town exchange contracts on County Ground purchase

Swindon Town plan to redevelop their County Ground stadium once the purchase is complete

Swindon Town have exchanged on the purchase of their County Ground stadium, with completion scheduled for the end of March.

The League Two club are buying the ground from Swindon Borough Council in a 50-50 split deal with their supporters' trust.

The joint venture will then lease the ground back to the club for 250 years.

A statement from the club said contracts have been signed and a deposit of £230,000 has also been paid.

The purchase by The County Ground Stadium Custodians Ltd will mean the club - who have played at the County Ground since 1896 - and its fans will have full ownership of the site for the first time.

Funding for the £2.3m deal has come from the Nigel Eady Trust, a lifelong Swindon fan who left the club money after his passing in 2012.

"This is massive for the football club and a significant step forward, as it means the joint venture is now fully committed to completing the purchase over the coming months," said Swindon owner Clem Morfuni.

"We'd like to place on record our sincere gratitude to the Nigel Eady trustees who have been so supportive throughout this long process."

There are also plans in place to redevelop the ground and surrounding area, including upgrading two of the stadium stands and building a hotel and conference centre.

"Upon completion, we can ensure the County Ground is developed in the best possible way for the benefit of both the club and local community," said TrustSTFC chairman Steve Mytton.