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Asset of Community Value - Petition


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Hello all,

 

Please a version of an update that went to our members yesterday. We would like people to consider signing our petition here in support of our application. Further details are below.

 

As always, I'll try and answer any questions as I can. 

 

Thanks and UTO 

 

......................................................................

 

You may remember that earlier in the year, the SWFC Supporters'Trust Interim Board balloted members on whether they wished us to pursue an application to have Hillsborough designated an Asset of Community Value (ACV). That ballot had been preceded by an online consultation on the issue, and saw 96.2% members vote in favour of the proposal based on a 51.3% turnout.

 

Progress Update

 

The Trust has been progressing the application for several weeks since the 20/21 season concluded speaking with local stakeholders and building a coalition of support for the bid behind the scenes. Our aim is to have the ACV bid submitted and accepted by Sheffield City Council in time for when the ‘charge’ is due on Hillsborough on the 30th September 2021. Advice from local councillors indicates that we will need to submit our application in the opening two weeks of July to achieve that aim.

 

How you can help?

 

The nomination form requires evidence that Hillsborough delivers social well-being to the local community of Hillsborough, and the wider region of the city of Sheffield.

 

One way you can help is to sign our petition, which will be submitted alongside the nomination form in July as evidence of community engagement and support for having Hillsborough designated as an ACV. You can access it via the hyperlink above or the link below:

 

https://www.swfctrust.co.uk/news/acv

 

Please share the petition far and wide on social media and with family and friends. The more signatories the better.

 

Second, you might write a testimonial as to the value of Hillsborough as a community asset and its impact on social well-being of Sheffield. You can use our petition as inspiration for what you might include, but it would be great if you gave the testimonial a personal edge. Examples might include writing about the emotions of attending football matches, telling us about the importance of Hillsborough in meeting with family and friends, and the memories you have made in the stadium that will last a lifetime.

 

Please email your testimonial to enquiries@swfctrust.co.uk and we will include it in our application as evidence of community support for the application. 

 

Your help will go a long way towards a successful bid to have Hillsborough designated an Asset of Community Value

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Q. If the stadium is owned by Sheffield 3 Ltd, and Sheffield 3 Ltd is sold to a new owner - does that mean they don't need to notify anybody?

 

As the ownership of the company is changing, not the ownership of the stadium

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1 minute ago, Grandad said:

Q. If the stadium is owned by Sheffield 3 Ltd, and Sheffield 3 Ltd is sold to a new owner - does that mean they don't need to notify anybody?

 

As the ownership of the company is changing, not the ownership of the stadium

I'd have thought it's classed as a material change of ownership.

I.e a ground sale.

But like you I'd be interested in a proper answer.

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What if Sheffield 3 sold shares. 

 

Let's say they value the stadium at £60m. Create 10,000 shares valued at £6,000 ea.

 

Chansiri retains 51% and puts 49% on sale. 

 

Everybody who buys one gets a choice of dividend annually, or 50% off a season ticket forever.

 

Would that be notifiable? 


"The best poster on Owlstalk by far" - Kaven Walker

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15 minutes ago, SWFC Trust said:

 

Hello all,

 

Please a version of an update that went to our members yesterday. We would like people to consider signing our petition here in support of our application. Further details are below.

 

As always, I'll try and answer any questions as I can. 

 

Thanks and UTO 

 

......................................................................

 

You may remember that earlier in the year, the SWFC Supporters'Trust Interim Board balloted members on whether they wished us to pursue an application to have Hillsborough designated an Asset of Community Value (ACV). That ballot had been preceded by an online consultation on the issue, and saw 96.2% members vote in favour of the proposal based on a 51.3% turnout.

 

Progress Update

 

The Trust has been progressing the application for several weeks since the 20/21 season concluded speaking with local stakeholders and building a coalition of support for the bid behind the scenes. Our aim is to have the ACV bid submitted and accepted by Sheffield City Council in time for when the ‘charge’ is due on Hillsborough on the 30th September 2021. Advice from local councillors indicates that we will need to submit our application in the opening two weeks of July to achieve that aim.

 

How you can help?

 

The nomination form requires evidence that Hillsborough delivers social well-being to the local community of Hillsborough, and the wider region of the city of Sheffield.

 

One way you can help is to sign our petition, which will be submitted alongside the nomination form in July as evidence of community engagement and support for having Hillsborough designated as an ACV. You can access it via the hyperlink above or the link below:

 

https://www.swfctrust.co.uk/news/acv

 

Please share the petition far and wide on social media and with family and friends. The more signatories the better.

 

Second, you might write a testimonial as to the value of Hillsborough as a community asset and its impact on social well-being of Sheffield. You can use our petition as inspiration for what you might include, but it would be great if you gave the testimonial a personal edge. Examples might include writing about the emotions of attending football matches, telling us about the importance of Hillsborough in meeting with family and friends, and the memories you have made in the stadium that will last a lifetime.

 

Please email your testimonial to enquiries@swfctrust.co.uk and we will include it in our application as evidence of community support for the application. 

 

Your help will go a long way towards a successful bid to have Hillsborough designated an Asset of Community Value

 

 


Can I just once again say thank you for the way you communicate and take and answer questions - it really is appreciated and it's such a breath of fresh air


Thank you

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14 minutes ago, Grandad said:

Q. If the stadium is owned by Sheffield 3 Ltd, and Sheffield 3 Ltd is sold to a new owner - does that mean they don't need to notify anybody?

 

As the ownership of the company is changing, not the ownership of the stadium

So if he sells up, and new owners decide to move from Hillsborough can they sell the ground .

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1 minute ago, Uncle Mort AMB said:

So if he sells up, and new owners decide to move from Hillsborough can they sell the ground .

Yes, but new owner would need to notify the council. 

 

I'll post the Q&A in a moment which covers that and much else. 

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1 minute ago, SWFC Trust said:

 

I'll post the Q&A in a moment which covers that and much else. 

 

Will that cover these as well? 👇

 

21 minutes ago, Grandad said:

Q. If the stadium is owned by Sheffield 3 Ltd, and Sheffield 3 Ltd is sold to a new owner - does that mean they don't need to notify anybody?

 

As the ownership of the company is changing, not the ownership of the stadium

 

9 minutes ago, Grandad said:

What if Sheffield 3 sold shares. 

 

Let's say they value the stadium at £60m. Create 10,000 shares valued at £6,000 ea.

 

Chansiri retains 51% and puts 49% on sale. 

 

Everybody who buys one gets a choice of dividend annually, or 50% off a season ticket forever.

 

Would that be notifiable? 

 


"The best poster on Owlstalk by far" - Kaven Walker

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Q&A - Asset of Community Value (ACV)

What is an ACV? It is simply a label given to something (usually a building) that is seen to have value to a local community (examples libraries, parks, or football grounds)

 

Who decides whether somewhere is an ACV? It is applied for by a community organisation (in this case the SWFC Supporters' Trust) and decided upon by the council. 

 

What happens if the Council say yes it is an ACV? There are various legal protections added to the site, perhaps the key one for Hillsborough is that status ensures the local community (Council and Trust) will be informed of any attempt to sell the asset by its owner.

 

What happens if the owner does want to sell Hillsborough? He/she can do so, but must let the Council know. The council can either say that the sale is fine, for example if it is being sold to someone who wants to continue using Hillsborough as a football stadium. They can also put a hold on the sale of up to six months (called a moratorium).

 

What happens if any sale is put on hold? Then the local community can decide whether it wants to bid for the stadium. There are various time frames related to this.

 

Is the aim of this process for the Trust or the community to buy the ground? No, it is very unlikely that the Trust or community would be able to raise the finance to buy the ground.

 

So, what is the point? There are several reasons, but two stand-out.

 

Transparency: An ACV means there must be openness from any owner of SWFC over the ownership of the ground. The council must be informed in advance of any potential sale, and in turn the Trust, local community and fanbase. The ACV has a symbolic status therefore of the importance of Hillsborough to fans and the community and means the asset is less likely to be lost to the local community. 

 

Community: The Trust hopes that there is a legacy from the ACV application in opening Hillsborough and it becoming a hub of the local community welcoming to local groups and projects throughout the week, rather than just available to fans at the weekend. 

 

Will this make SWFC less attractive to a new owner/investor? The ACV is not a barrier to the sale / new investment into Sheffield Wednesday football club.

What are the next steps? The Trust's members voted in favour of the Trust applying for, and aiming to secure, ACV status. The Trust began assembling its application in May by clarifying some points with the council. In making our bid, we aim to gain the support of the club, politicians, the local community, and fanbase. If anything shows to us in that process that the application is wrong for SWFC, the community or fanbase, then we will return to our members and ask again. We are convinced so far that it is a positive step for all involved.

 

How will the petition be used in your application?

The petition will be used in Section C of the application to show community support for the bid to have Hillsborough designated an Asset of Community Value.

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2 minutes ago, SWFC Trust said:

Not yet .. Let me ask about these two. Will come back when I find out more. 

Brilliant

 

It's been troubling me for a while. Thank you again for your response

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47 minutes ago, Grandad said:

Q. If the stadium is owned by Sheffield 3 Ltd, and Sheffield 3 Ltd is sold to a new owner - does that mean they don't need to notify anybody?

 

As the ownership of the company is changing, not the ownership of the stadium

Our understanding for this one is that the freehold would have to be registered under the new ownership meaning that the ACV would kick in and Sheffield 3 limited would have to notify the council.

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36 minutes ago, Grandad said:

What if Sheffield 3 sold shares. 

 

Let's say they value the stadium at £60m. Create 10,000 shares valued at £6,000 ea.

 

Chansiri retains 51% and puts 49% on sale. 

 

Everybody who buys one gets a choice of dividend annually, or 50% off a season ticket forever.

 

Would that be notifiable? 

Our understanding is that there would be no underlying change to the freehold status, so there would be no need to notify the council as Sheffield 3 Limited would still be majority owner.

 

And even if this did kick in the ACV status it's ok because the moratorium period can be waived. It doesn't need to be exercised in every situation. In this instance, where shares in the asset might be sold to fans, we can imagine how that would be seen a positive move and the maratorium period waived.

 

For both these circumstances and others it's worth saying that this is our reading of the material. We've  learnt this stuff as best we can, and asked questions of the council to the best of our ability, but it is always possible to have missed something.

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34 minutes ago, Grandad said:

What if Sheffield 3 sold shares. 

 

Let's say they value the stadium at £60m. Create 10,000 shares valued at £6,000 ea.

 

Chansiri retains 51% and puts 49% on sale. 

 

Everybody who buys one gets a choice of dividend annually, or 50% off a season ticket forever.

 

Would that be notifiable? 

Thats a great idea!  

I would change it so that Chansiri sells as many as the fans want (subject to 10,000 limit) that way the fans could own upto 100% of the ground.

, why restrict at 49%.  The club have a long lease in place so the income is fixed and expenses will be very low as most commerical leases of this length are lessee repairing leases

What uptake do you think there would be on this ? 

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6 minutes ago, SWFC Trust said:

Our understanding for this one is that the freehold would have to be registered under the new ownership meaning that the ACV would kick in and Sheffield 3 limited would have to notify the council.

Wouldn't the Freehold remain under the ownership of Sheffield 3 Limited and therefore no need to notify? No change would be necessary at Land Registry.  Commercial properties are often sold within a corporate vehicle to minimise stamp duty charges and to allow any leases to remain without the need to amend,

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Great work by the trust. I would suggest that everyone who has an interest in the future of the club joins. 

I honestly believe that with the full backing of the fans this can be the vehicle for change that we have been crying out for.

Please keep it up guys. 

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7 hours ago, pahowl said:

Wouldn't the Freehold remain under the ownership of Sheffield 3 Limited and therefore no need to notify? No change would be necessary at Land Registry.  Commercial properties are often sold within a corporate vehicle to minimise stamp duty charges and to allow any leases to remain without the need to amend,

To be fair that's my reading of it.

 

The ownership of the stadium would still sit with the entity that is Sheffield 3 Limited. Therefore no change and no need to inform, and no moratorium.


"The best poster on Owlstalk by far" - Kaven Walker

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7 hours ago, pahowl said:

Thats a great idea!  

I would change it so that Chansiri sells as many as the fans want (subject to 10,000 limit) that way the fans could own upto 100% of the ground.

, why restrict at 49%.  The club have a long lease in place so the income is fixed and expenses will be very low as most commerical leases of this length are lessee repairing leases

What uptake do you think there would be on this ? 

I don't think they'd sell 10k. More like 1-3k at a push. It's a lot of cash to lay out.

 

It would also mean pre-selling much of the club's future revenue - forever. To cover us for a time when we've maxed out our credit card.

 

Would need serious thought! 


"The best poster on Owlstalk by far" - Kaven Walker

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