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Wednesday, 6 March, 2002, 10:26 GMT
Foxes sell Filbert Street
Leicester's Filbert Street ground
Leciester will be moving to Freeman's Wharf
Leicester have sold Filbert Street, their home of 111 years, to a development company.

The Foxes' PLC board informed the Stock Exchange of the sale to GMD Developments on Wednesday.

The club will receive 3.75m for the 5.145-acre stadium site and the proceeds of the sale will be applied to the club's new stadium project at Freemen's Wharf.

We are pleased that the sale of Filbert Street has now been finalised
Steve Kind
Leicester PLC chief

A club statement said the sale is conditional on the football club moving to its new stadium at Freemen's Wharf.

And GMD Developments will be responsible for gaining planning approval for their development scheme.

They intend to replace the stadium with a development comprising a student village together with a residential scheme.

"We are pleased that the sale of Filbert Street has now been finalised," PLC chief executive Steve Kind told the club's official website.

"We look forward to working with GMD Developments over the coming months to ensure a full consultation process with local residents takes place."

A range of fixtures and fitting from the Carling Stand will be removed and transferred to Leicester's new stadium.

Leicester City PLC hopes to retain use of the car park adjacent to Filbert Street both on matchdays and throughout the week.

Leicester, currently nine points adrift at the bottom of the Premiership, are set to move into their new 32,000 capacity all-seater stadium in time for next season.

BBC East Midlands' Matthew Warren
"Fans will get a chance to buy memorabilia"
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