Developer intends to become Woking FC’s majority shareholder

THE developer planning the Woking stadium regeneration is intending to become the majority shareholder in the football club if the scheme goes ahead.

An agreement exists for GolDev Woking Ltd to buy the 75% stake in Woking FC owned by honorary vice-president Peter Jordan.

An artist’s impression of the new Woking stadium

The information was provided to South Woking Action Group (SWAG) member Karen Woodland at a meeting of the borough’s council’s executive committee.

She had asked for clarification on the “Peter Jordan Agreement” which is referred to in the council’s leasing agreement with GolDev to redevelop the stadium land in Kingfield and build homes on land in Egley Road.

The deputy leader of the council, Cllr Ayesha Azad, replied that the Peter Jordan Agreement refers to the sale of Mr Jordan’s shares to GolDev. In answering a question from SWAG member Monique van Bellen, Cllr Azad said that the council also had an option to acquire the shares, at no cost, if necessary.

In another question to the executive, SWAG member Andy Caulfield asked how the council had justified paying £11million for former farmland in Egley Road targeted for housing and a new location for the David Lloyd health club, which is currently on the Kingfield redevelopment site.

Mr Caulfield wanted to know when the council changed its intention from buying the land only after planning permission was obtained to acquiring it before consent. He also asked what market valuations had been carried out and how much the council had paid for the neighbouring Hoe Valley School and sports stadium land.

Cllr Azad said the council changed its mind on the conditions in December 2018, when the land was identified as a possible housing site in the borough plan. The £11m cost was agreed with the landowner on a “willing buyer-willing seller” basis. The school and stadium land had cost a total of £6.35m.

Speaking about the purchase of Mr Jordan’s shares, a GolDev spokesman John Walker told the News & Mail this week: “We do have a plan for the Woking FC shares but haven’t quite finalised it yet. The agreement is likely to be in another week or two.”

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