As part of the deal, an anticipated 100 jobs are expected to be created from developments around the ground along with up to 150 homes for older residents and people with complex needs on an area which already has outline planning permission.
Early plans are in place to enable the creation of new employment in leisure and health and wellbeing sectors as well as others.
Holly Mumby-Croft, MP for Scunthorpe and Vice Chair of the Town's Fund Board, said: “This deal represents a bright new future for club, for the community and for our town – it has been backed by government cash.
“Securing the ground as Scunthorpe United's home will be a welcome relief to fans who now know that the team will always be able to play at Glanford Park.
“We have had meetings with the club and with Government to get the right deal in place to make sure the community is a key part of developing a new sustainable future. Glanford Park not being in the hands of any one single person was critical to securing that new future.
"Lots of people have been in touch with me, supporters and local residents alike and I’ve listened. It’s great to be able to confirm that through working with the council and the club we can now start to build further.
"Michelle has shown a real passion for the club and the fans, she has been a pleasure to work with and her iron will has ensured the deal has been completed.”
Cllr Rob Waltham, leader, North Lincolnshire Council, said: “The Government has provided a lot of cash to back communities across North Lincolnshire in recent years and today marks another such occasion.
“The ground is safely in the right hands to create a new future for the club and the revenue generated will ensure a good deal for taxpayers and that more money can be reinvested back into the ground and the host of community activities for young people and families.
“The new jobs that will be created and the new homes for older people – which is more than a third of the population here, are key parts of building a brighter future.”
For Scunthorpe United, it is another monumental milestone in the resurrection of the football club. The primary focus of the Board of Directors when they took over as custodians of the club was to bring Glanford Park back to the fans, and back to the community.
By completing the deal in a community interest company, Glanford Park will always be protected within the community, and will never be at threat, regardless of any changes to the Board or future ownership.
Speaking following the completion of the deal, owner of Scunthorpe United, Michelle Harness, said: “Wanting to bring Glanford Park back to Scunthorpe United supporters and the community was the reason I stood up in the first place, along with the Board of Directors. To all of us, it’s why we’ve been working hard every day and every night. It means a lot to the Board, it means a lot to me, and I know hugely that it means a lot to the fans.
“Going forward, we need to continue to tackle the extreme levels of debt that were left with the club when we took custodian. Donations from local businesses and people around the town have been totally humbling, and it shows how desperate everyone in the area has been to keep their beloved football club going.
“All of the additional money that we’ve been able to get in is helping to pay off our debt and get us one step closer to being more sustainable as a football club, which we are striving to do every day.
“The hard work doesn’t stop. In fact, it truly does start today. We got our football club back. We got Glanford Park, our home, back and now, we must fight to keep it, and the only way we can do that is through donations, sponsorship, buying tickets and merchandise, and supporting as many of our initiatives as you possibly can.”
NOTES
Glanford Park is now owned by a community interest company, The New Show Ground CIC, which is a non-for-profit organisation which exists to benefit the community not private shareholders. The board will be made up of club officials, community representatives, the council and fans.
The ground and surrounding land has been secured with some private backing from supporters with the majority being Government cash through the Town Deal Fund.