Ten years ago this week an article appeared in the Birmingham press about the loan deal between Hereford United and Bristol Stadium Group. Below is a slightly edited version.
Hereford United have been given a boost off the pitch with a new deal over repaying a £500,000 loan with the Bristol Stadium Group.
The Bulls have joined potential developers to find a new home so Edgar Street could be developed.
Graham Turner, who is the club's owner after his rescue package 12 months ago, said it will be three or four years before any move to a new stadium but one financial headache has eased.
The club's directors and Bristol Stadium Group have agreed to cap the interest on the £0.5 million loan from May 1997. It will now run parallel with the loan from Chelverton, the other part of the consortium, which is due to be repaid in May 2003 and is also interest-free.
Turner said he was delighted by the attitude of the developers in assisting the club.
"Relocation will be a long and complicated matter. Progress has been made with one particular site but at present further possibilities are being explored," he added.
"It is vital that we get the best possible location. Therefore no definitive announcement can be made at present because of the commercial sensitivity of the matter.
"For any scheme to succeed, it will need the co-operation and understanding of the council. Without that, the club has no future.
"The task of satisfying everyone will be considerable. However, nothing is insurmountable."
Text at top (next game etc)
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