The sale of the lease of the Odsal Stadium, the home of the Bradford Bulls Rugby League team, to the Bulls, has been completed.
The deal was brokered by global property consultancy Knight Frank.
Lawyers have now finalized the exact details of the 150-year-old lease, which is owned by Bradford Metropolitan District Council.
Opened in 1934, Odsal is a multi-purpose sports stadium which extends to approximately 12.85 acres and is currently the home of Odsal Motorsport, as well as the Bradford Bulls.
The Rugby Football League Ltd (RFL) sold the lease to the Bradford Bulls, having owned it for the past 12 years and having paid the council a peppercorn rent.
Jonathan Hyland of the Leeds office of Knight Frank said: “We have now completed this complex and important deal. Lawyers have worked forensically through the final details to ensure each party was happy and a satisfactory decision was reached.
“The RFL was keen to sell the lease and the Bulls were keen to gain more autonomy and control over their ground, so the deal suited both parties.
“When we first announced that the Odsal lease was up for sale last October, there was a good deal of interest, which wasn’t surprising, since this was an absolutely fantastic opportunity to acquire one of the most famous sporting stadia in Yorkshire. Odsal has a wonderful history and is one of the jewels in the crown of the city of Bradford.”
Rob Graham, the RFL’s Director of Finance, Facilities and Central Services, said: “We are pleased to have concluded the sale of Odsal Stadium to the Bradford Bulls. The RFL’s primary goal in taking ownership in January 2012 was to avoid an historic venue for Rugby League being lost to the sport, and that has now been achieved.
“Ownership of the stadium was never envisaged as a permanent position, and we thank Jonathan Hyland and his team at Knight Frank for their professionalism in completing the sale of the lease.”
