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Cardiff council to approve stadium plans
Welsh - 11 December, 2006
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Welsh Cardiff council's executive committee has given the Cardiff City new stadium the go ahead.
The objections the council had to the long-delayed project have been removed and work should start on the development in Leckwith by March.
The project will now be approved by the full council later this month and then will be examined by the Welsh Assembly.
The stadium project, that was first suggested six years ago, has made significant strides since the removal of former owner Sam Hammam and a takeover by a group of London-based hedge funds.
The identity of the club's new majority shareholders, who will own a 90 per cent share of the club, has not been made public yet but a council spokesman said they would be revealed soon.
The new investors are set to infuse GBP 12 million into the club when the takeover is complete, with GBP 9 million of that reducing Cardiff City's GBP 24 million debts.
The council has also been pleased regarding the economic feasibility of the retail space linked to the stadium site.
ASDA and American firm Costco, as well as other retailers, have already signed up to open stores at the development.
In a cost-cutting move, the stadium will open with 25,000 seats but there will be the option to add another 5,000 seats if needed.
The club has planning permission to increase seating capacity to 60,000 in the future but it would take major structural work for this to be accomplished.
The issue of the Cardiff Blues rugby side leaving its Arms Park home and relocating to the new stadium remains on the agenda.
Cardiff council leader Rodney Berman and Cardiff City chairman Peter Ridsdale have both said it is a move that could benefit the project and the council has included a clause in the agreement that gives them the right to require a ground-sharing agreement.
However, a spokesman for Cardiff council said such a decision would be left to the two clubs to decide without interference from County Hall.
"Ground-sharing is an issue for Cardiff City and Cardiff Blues," said the spokesman.
"The stadium development as it stands now can be sustained with use just by the football club. The introduction of a ground-share would mean it was on an even sounder financial footing."
The objections the council had to the long-delayed project have been removed and work should start on the development in Leckwith by March.
The project will now be approved by the full council later this month and then will be examined by the Welsh Assembly.
The stadium project, that was first suggested six years ago, has made significant strides since the removal of former owner Sam Hammam and a takeover by a group of London-based hedge funds.
The identity of the club's new majority shareholders, who will own a 90 per cent share of the club, has not been made public yet but a council spokesman said they would be revealed soon.
The new investors are set to infuse GBP 12 million into the club when the takeover is complete, with GBP 9 million of that reducing Cardiff City's GBP 24 million debts.
The council has also been pleased regarding the economic feasibility of the retail space linked to the stadium site.
ASDA and American firm Costco, as well as other retailers, have already signed up to open stores at the development.
In a cost-cutting move, the stadium will open with 25,000 seats but there will be the option to add another 5,000 seats if needed.
The club has planning permission to increase seating capacity to 60,000 in the future but it would take major structural work for this to be accomplished.
The issue of the Cardiff Blues rugby side leaving its Arms Park home and relocating to the new stadium remains on the agenda.
Cardiff council leader Rodney Berman and Cardiff City chairman Peter Ridsdale have both said it is a move that could benefit the project and the council has included a clause in the agreement that gives them the right to require a ground-sharing agreement.
However, a spokesman for Cardiff council said such a decision would be left to the two clubs to decide without interference from County Hall.
"Ground-sharing is an issue for Cardiff City and Cardiff Blues," said the spokesman.
"The stadium development as it stands now can be sustained with use just by the football club. The introduction of a ground-share would mean it was on an even sounder financial footing."
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