Fans hit out at Banks's Stadium sale

Angry Walsall fans today hit out at the controversial sale of the Banks's Stadium.

The Walsall Supporters' Trust have called for the freehold to be returned to the club after it was put on the market last week.

The Saddlers revealed in a statement they had been informed by landlords Suffolk Life Annuities Limited of their intention to sell.

But they are unlikely to have moved without the say-so of chairman Jeff Bonser, who is understood to have a SIPP invested in the Banks's, and the Trust have made their feelings clear.

A statement read: "The Walsall Supporters' Trust were dismayed last week by the decision to put the freehold of the stadium up for general sale.

"We have been in discussions with experts in the field of pensions, who have informed us there are legal and financially viable ways for the freehold to be sold to the club, or even vested in an 'arm's length' third party, with only minor detriment, if any, to the beneficiaries of the Self Invested Personal Pensions involved.

"Our advisors have been in touch with the beneficiaries of the pension fund pointing out these options to them."

Bonser is yet to comment to the local media about the sale and the Trust urged the chairman to re-think alternatives to the plan.

They said: "We would call on those beneficiaries of the pension fund to instruct Suffolk Life and the company handling the sale to take further advice and actively seek alternatives to the general sale, in order to assuage the fears that all Walsall fans have contemplating an uncertain future."

"There has been a wave of initial interest since the Banks's was put on the market last week with the site likely to fetch between £5.5million and £7.5million.

The Saddlers have a lease of 17 years on the site and have an opportunity to extend it for another 33 years after that, but the Trust don't want to run the risk of losing their club.

They said: "We feel that the best place for the freehold of the stadium is under the control of the football club, or in the hands of a third party, held in trust so there is no possibility of the land being used for any other purpose on the expiry of the current lease."