Clock Ticks Down On Bank Management Of Sports Club

Members Group concerned the public asset could degrade while new lessees are secured

image: Bank of England Sports Club website


Governors of Bank of England announce plan to close Roehampton sports club

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In April last year the Governors and the Bank’s court of directors announced that they had decided to shut the 32-acre centre in Roehampton, within 12 months with plans to lease the site on commercial terms. In response the Bank of England Sports Centre Membership Group (CMG) was established which represents a substantial group of the commercial members of the BoE Sports Centre.

The Bank of England Sports Centre Members’ Group (CMG) has responded to the Bank of England's confirmation to withdraw from management of the sports fields and a sports centre in Roehampton on April 30th. The site has been used for sporting purposes since 1908.

The CMG is committed to making sure the club and the grounds are secured, retaining access for the community. The Chair of the members group, Paul Giles, said: "This is despite serious concerns by the CMG that the timing gives rise to a risk of degradation of the Bank’s commercial offering. Potentially, there could be deterioration of the site, disruption of supply and a considerable loss of existing members. The existing membership cohort is seen as an asset by many potential lessees. The site is both public land and designated as an Asset of Community Value".

CMG believe that a lengthy time interval is now highly likely to exist between the withdrawal of management of the Centre on April 30th, 2020 and the subsequent assumption of ownership and management by the successful lessee. A shortlist of potential lessees has been agreed, but not announced.

The CMG has been pleased to speak to some of the potential lessees planning to retain the centre and grounds as a commercially viable community sports centre.

The CMG has today (3 February) announced that it is interested in discussing with potential lessees a member-funded arrangement which would give a temporary continuation of the operation and ongoing membership of the Centre as it operates today from May 1st. The CMG representatives are urging potential lessees with a community objective and who might be interested in such an arrangement to contact them as soon as possible.

February 3, 2020

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