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The confirmation by Hereford United manager Graham Turner that the Richardson Brothers are to absorb the club's debt through the development costs of the proposed work at Edgar Street will be welcomed by supporters. In effect it will mean that as long as the club continues to be run on prudent lines it should become debt-free in a few years.
It is quite possible that the debt isn't as high as the often quoted £1m because the debt has passed through several companies and may have been 'purchased' by the Richardsons for less than the original amount.
"We don't have to find any finance, in fact it's the opposite, the £1million plus that we owe the Richardsons will be taken as part of the development costs so we will lose that debt," commented Graham Turner last week.
Hopefully the Blackfriars End (pictured) will be the first part of the stadium to be upgraded.
This website and its predecessor www.hu-fc.co.uk have followed the involvment of the Richardson Brothers with Hereford United. Below is a precis of the story to date.
The Richardson Brothers were first mentioned as being involved in the Hereford United debt some five years ago, in August 2002, when at a fans forum their name cropped up. It was just before Hereford Council elections and Turner stated that they were linked with Chelverton, to whom at that time the £1m debt was owed.
A month later at the club's AGM, Turner said:
"We're told that it's to our advantage that the Richardsons are part of the deal. We're told they will not do anything harmful to the club as it would harm their image."
Then in early September 2002 Chelverton went into liquidation. It was thought that the Richardsons had pulled the plug and might take over the debt. And three months later it was confirmed that the Richardsons and Carillion had taken over. Both were, and still are, major West Midland companies.
And it was at this time, late in 2002, that it became clear that Hereford United would stay at Edgar Street. The repayment of the debt would be postponed from the initial deadline of May 2003.
For the next two years little happened, but then in January 2005, Graham Turner revealed that discussions were on-going with the Richardsons.
"We have meetings arranged with the Richardson Brothers over the next couple of weeks. It would be nice to think all three parties could get what they require from the situation but my main concern is to ensure that whatever developement takes place the football club is protected," Turner told the Hereford Times.
"The time factor is vital. We need to be getting things done like having the floodlights improved which will be very costly. We also need to be thinking of getting the Meadow End rebuilt."
In March Turner said that: "I know that we can work with our landlords, the Richardsons. I hope too that we can work with the Council to ensure what we want is obtained and in a fairly short time span."
In the same week the Hereford Times reported: "Indications are that property developers, the Richardson Brothers, are willing to stand by the club during redevelopment of the Edgar Street rather than press for the loan repayment."
In October 2005 the Edgar Street Grid company appointed Sir Clive Richards as its chairman and he stated that he was talking to the Richardsons about what part Hereford United could play in the redevelopment of the area.
The setting up of the ESG company has taken time and, no doubt, the Richardsons have sat back waiting to see what was proposed for the area. Now the master-plans are out they can start talking with the football club to come up with proposals for the redevelopment of the football ground. These plans will have to fit in with the master-plan but it is understood that work could commence as soon as planning is given. However that may be some time ahead as any plans submitted to the Herefordshire Council will have to be scrutinised by various bodies. No doubt there will be objections and the plans will go back to the architects for amendments.
Nevertheless, the future of Hereford United looks more secure than it has for many years.