Thursday, June 16, 2011

News: Rotherham United assures fans over stadium funding


Rotherham United has assured supporters that funding is in place for their new £17.3m community stadium.

A club statement said: "Taking into account the grant funding that has been applied for, the £5m loan from the council completes the funding requirements for the new stadium.

"It is regrettable that the Rotherham Advertiser decided to publish the front page headline story suggesting that a £2.3m shortfall still existed without obtaining full clarification from the Club. We hope that it has not caused too much unnecessary anxiety amongst supporters.

"We are delighted to announce that, as everyone can see, work began on site this week and we are currently looking to have a webcam to be installed to allow supporters to monitor the new stadium's progress."

The report to the council's cabinet when the loan was given approval stated that: "To date, including the proposed £5m Council loan, the Club have identified funding of £15m, leaving a potential financing shortfall of £2.3m.

"The other identified funding is made up of £3.3m ERDF grant and £6.7m private investment. The Club have been asked to provide evidence to confirm that these funding sources are in place and secure."

Councillor Roger Stone, Leader of Rotherham Metropolitan Borough Council, said in his blog: "I'm delighted to say that Rotherham Borough Council has helped to slot in the latest piece in the jigsaw by formally agreeing a loan to fill a gap in the multi-million pound finances already raised by the private sector.

"Of course, there will be those who say this is not the council's job, but I firmly believe that this IS our job. It is right and proper that as a council we should use the powers available to us to raise money to help projects and initiatives than can bring about significant generation in our town.

"There will be no additional cost to Rotherham's council taxpayers, but our residents will reap the benefits for years to come - football fans, of course, but also the schools and community groups who will use the stadium's facilities; the businesses who will benefit on match day and beyond, and lovers of sport in general who will be proud to see such a prestigious development in their town.

"I say critics should watch this space - they will eat their words at the end of the day."

Full plans have been submitted and work to prepare the site has begun. Work on the stadium itself is due to start soon and the stadium is due to open at the start of the 2012/13 season.

Rotherham United website

Supported by:
More news...

  © Blogger template Newspaper III by 2008

Back to TOP