Watford Leisure, which owns the cash-strapped Watford Football Club, has completed a £6m sale-and-leaseback of its Vicarage Road Stadium.
It will use the funds to provide working capital for the company.
Watford will pay an initial rent of £630,000 pa and will receive an additional £550,000 from the buyer, an unnamed third party, over the next five years.
The terms of the sale-and-leaseback include an option for Watford Leisure to buy back the stadium at any time during the term of the 35 year lease.
EGi News 06/08/02
