THE COUNCIL has bought Macclesfield Town's ground for £285,000 as part of a dramatic deal to save the football club.
Cheshire East rubber-stamped the decision to buy the freehold at the Moss Rose at a special cabinet meeting on Monday.
The club, which was relegated out of the football league last year, had been facing administration until the last-minute bail-out.
Macclesfield Town is the first club in the country to become community-owned without first going bust.
The sale was part of a deal which will see the club owned by members of the
community.
Shareholders Amar and Bashar Alkadhi, Mike Rance, Jeremy Turner and Barrie Darcey have given their shares to a community interest company – an organisation run for community benefit not private gain.
Directors have written off loans to the club to help further balance the books.
The shares have been handed to the Macclesfield Town Community Sports Trust, the charity, which runs community activities including youth football and school sports schemes.
Members of the community will be given the chance to buy shares.
The Cheshire East buy-out boosted funds at the club which faced an uncertain future before the weekend.
Michael Jones, council leader, said the club was part of Macclesfield's heritage and needed to be protected.
Speaking during Monday's cabinet meeting, he said: "This is about working with and investing in the community."
Mike Rance, club director and former chairman, added: “I'm grateful to Cheshire East for going the extra mile to give us this opportunity to create a community vehicle so the club can become anchored in the community."
For the full story and reaction, see Wednesday's edition of the Macclesfield Express.
