Profits made from an annual music festival have been used to purchase a large piece of land.

Yateley Sports CIC, organisers of Gig on the Green, have announced the signing of a contract to purchase Sean Devereux Park to be used for sports groups in the town.

The 7.2 hectares of land in Chandlers Lane, Yateley, has become the home of the recently amalgamated Yateley United, comprising of 35 football teams and more than 350 players, including both youth and adult sections.

Colin Ive, chairman of Yateley Sports CIC, said he was delighted about the news and said it would be ‘very positive’ for the town.

He said: “This purchase, and subsequent transfer of ownership of two packages of land to Yateley United FC and Yateley Cricket and Hockey Association, has enabled both organisations to own their grounds and so protect the use of the park by the community sports clubs for decades to come.

“Importantly it will further enable sports facilities there to be developed to a high standard and in turn provide good quality sporting opportunities for our children and our children’s children.

“I should like on behalf of the Yateley Sports CIC to extend our thanks to Yateley Town Council for their guidance and support and also give my personal thanks to the team of volunteers who continue to demonstrate what a small group of community focused dedicated people can achieve.”

It has not been revealed for how much the land was purchased, but it used up all of the profits from the last three years of Gig on the Green, which will be taking place once again this year on Saturday June 28 in Yateley Green, Reading Road.

The Yateley Sports CIC was formed in 2011 by a group of volunteers, with the objective of organising events to raise money for sports in the community. The primary vehicle by which those funds have been raised to date is via the annual Gig on the Green music festival, however the CIC is currently planning a second event, to be announced shortly.

The ownership of the land by Yateley United Football club is the first stage of an ambitious plan to develop the area as a sporting facility for the community.

It was also a prerequisite to the next phase of the plan, which is geared towards raising funds for a club house and floodlighting for the pitches.

The realisation of the plans depends on the continued support of the community at this year’s Gig on the Green featuring a host of local talented bands and singers.