In 2015 we signed a Memorandum of Understanding (MOU) with Hadley Property Group. This set out the key points of our working relationship with them including common understanding and commitments on key aspects of the proposed development and the transition to fan ownership. With the change from Hadley Property Group to Meadow in October 2016 we felt it was necessary to revisit the MOU and update to reflect the current situation.
We’re now pleased to say that both parties have signed a revised agreement which retains and builds upon all the main sentiments of the original MOU. The updated MoU emphasises how vital the planning application is to the future of the club. A brand new, fit-for-purpose stadium, a facility for local schools and the community groups, and a sustainable, debt-free future for our club, owned by the fans. If you haven’t already, please take 10 minutes to tell the Planning Inspectorate – by 7 March – why you #SupportourStadium.
You can read the full version of the revised MOU here but a short summary of some of the main points that Meadow have re-committed to is below:
- Meadow will exercise their exclusive option to complete the purchase of the majority shares in Dulwich Hamlet Football Club Ltd (DHFC) from Nick McCormack, within 60 days of gaining planning permission to redevelop Champion Hill.
- On completion of the new football ground, transfer ownership of DHFC, free of all liabilities for a peppercorn consideration to a Community Benefit Society (CBS) owned by the fans.
- Ensure that DHFC are the lessee, under a new lease from the London Borough of Southwark for the portion of the new football ground and associated facilities situated on council land and transfer all other facilities which are situated on the current ground for a peppercorn consideration to the CBS.
- Transfer to DHFC an amount of funds that ensure that the transition from private to community ownership is not prejudiced by a lack of working capital and any repairs or anti-deterioration work undertaken to the new 3G pitch are at no cost to DHFC for the first ten years.
- Ensure that any development of a new ground enables the Football Club to continue to play all their home matches at the current stadium before moving.
We would like to thank Meadow for their co-operation in revising the MOU and also look forward to continuing our good working relationship with them.