Kilby Wants to Sell Turf Moor Back to Club
A few seasons ago back in 2004 one of the most emotive debates amongst Clarets fans was underway as the Club revealed they would be selling Turf Moor to a consortium involving our Club's Chairman, Barry Kilby.
Kilby bought Turf Moor and the training facility at Gawthorpe for £3 million via a company called Longside. This company then leased the ground back to the club under a 99-year lease agreement
The move was necessary to get out of a financial hole at the time and avoid crippling capital repayments to the bank and help wipe out the club's debts.
Many Clarets fans accepted the inevitable albeit with heavy hearts and concerns as the deal was struck. Other Clarets saw the deal has a stroke of genius especially since our Chairman, a Clarets fan himself was involved in the deal
Barry Kilby has however now revealed that he is determined to sell the ground back to Burnley FC as soon as possible.
'It's a responsibility I'd sooner not have,' Kilby told BBC Radio Lancashire.
'As soon as the club gets some surplus cash it can buy it back and I'll be delighted when it does.'
Barry Kilby then also revealed the Club were in a position to buy back the ground after receiving £3 million from the transfer of Kyle Lafferty to Rangers.
'If we'd spent the money from the Kyle Lafferty transfer they could have bought it back there and then. But the decision was to reinvest in the team,
'We don't have to go into the Premier League.There's a figure of about £3.2m at the moment which would buy it back, so it's not a massive amount of money.'
This will be encouraging news for a number of the original Doubting Thomases especially since we would not have to get promoted from the Championship.