Accrington Stanley owner Andy Holt has completed the purchase of the land at the Wham Stadium.
It was previously owned by Hyndburn Council and the Reds paid a lease but the land now belongs to the club.
“The price was fixed and assessed independently, I asked for no favours from Hyndburn Council and they have been smashing,” said Mr Holt.
“It means, if the club does ever hit hard times again, they do not have to pay a lease on the land. It cost £400,000 and an interest rate of three per cent until the debt is settled which will be soon.
“It’s Your Club, Your Town and now Your Land.”