Scally outlines ground plan
07 Dec 2007 - 11:35:52
Gillingham chairman Paul Scally is keen to solve the club's financial problems by selling the Priestfield Stadium to a company that would then lease it back to the Gills.
Scally says the plan would see almost three-quarters of the club's £13.3million debt transferred to Priestfield Developments Ltd, of which he would be the sole owner.
The company would buy the ground from Gillingham Football Club plc for just under £10million and lease the stadium back to the Gills, initially for ten years.
Scally told the League One club's official website: "There'll be a rent-free period of three years, although maintenance and running costs of the stadium will still be met by the club.
"After that time the club will pay a rent based on which division it's in at that time."