 On 17 May 2008, the BBC reported that the tenants had put the remaining 40 years of their lease up for sale, with an asking price of £ 15,000,000. Within four days, there were over 50 potential buyers, which led to fears from residents that the island's identity would be lost if it was bought by the wrong owner. In September 2008 it was announced that Starboard Settlement, a trust, had acquired the remainder of the lease for considerably less than the asking price. The trust formed a company based in Guernsey, Herm Island Ltd, to manage the island for the trustees.
