A NEW financial deal for Kirklees Council and the Galpharm Stadium has been agreed.

It will mean big savings for the authority – and council taxpayers.

No details of the arrangements have been made public, after yesterday’s meeting of Kirklees Stadium Development Ltd.

But it is understood to free the council from costly regular payments totalling tens of thousands of pounds to the Stadium, although they will still have a financial commitment.

The board meeting made no further moves on the controversial shares issue, which has seen a dispute between Huddersfield Town owner Dean Hoyle and Huddersfield Giants owner Ken Davy disagree over the rent formula.

KirkleesŠCouncil last night welcomed the news that the KSDL Board has agreed to a restructured financial arrangement with the authority.

Council leader Mehboob Khan said: “I am pleased with what the Board has agreed today.

“The council’s position on the private arrangement for transfer of shares between the owners of Huddersfield Town and Huddersfield Giants has been dictated by the economic conditions.

“Everybody knows the financial pressure that the council is under and that the clubs are in a much healthier financial position than they once were, with Dean Hoyle and Ken Davy driving forward their future success.

“The agreement made today reduces the council’s financial obligations and reduces pressure on our budget. It also underlines our ongoing commitment to the partnership and to ongoing success for both clubs and the stadium.

“We are very clear that the original concept for the stadium, with shared ownership and shared use for the clubs and the community through the Council, and with no one party having overall control, is the right one.

“The significant contribution Ken made in taking Town out of administration in 2003 needs to be widely recognised.

“The original spirit of partnership with the premise of shared ownership is one that the council looks forward to returning to and will continue to work very hard to achieve.”

Sir John Harman, chairman of KSDL, said: “The Board agreed a new financial settlement with Kirklees Council which they will claim, with some justification, offers improved long-term value to the authority.

“It is another hurdle to reaching a complete settlement but the shares issue remains outstanding.”