Hereford have finally secured their long-term future at Edgar Street by agreeing a deal to purchase back the lease agreements from Carillion Richardson.
United's new board, chairman David Keyte and vice-chairman Tim Russon, have been hard at work attempting to clinch the long-running saga ever since taking over in the summer.
And lengthy talks with the development company have now at last secured the Bulls` future at the ground. Not only that, but the new deal also means a loan of just over £1million from Carillion Richardson has also been settled.
Keyte told Hereford`s official website: "This is a landmark for Hereford United. For the first time in years the club is free of debt and we can now move forward off the pitch to develop the club."
A club statement described the agreement as "one of the most important and biggest deals in Hereford United`s history", with the League Two outfit now planning their long-term future at Edgar Street.
Hereford are planning to negotiate a new leasing agreement from Herefordshire Council, who own the ground, with Russon already admitting early talks between the two parties have been positive in relation to "the next 100 years and beyond."
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