Arsenal's Ashburton Grove to open 2006
Mon 23 February, 2004 09:29
LONDON (Reuters) - Arsenal says funding for their new 357 million pound stadium has been secured and the Ashburton Grove ground will open for the start of the 2006/2007 season.
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Arsenal secure funding for new stadium
Arsenal have announced the official go-ahead for their ambitious plans to build a new £400million stadium at Ashburton Grove.
The Gunners have been locked in a drawn-out search for funding for their new ground, which is seen by manager Arsene Wenger as fundamental to the club's long-term future.
In a statement to the Stock Exchange, the Gunners announced that the funding was now in place and that work could begin with a due completion date of 2006.
The statement read: "Following months of negotiation, Arsenal are today delighted to confirm that funding for their £357million stadium project has been secured and construction and regenerative work in and around the site has already resumed, thus ensuring the new 60,000-capacity stadium opens as planned for the start of the 2006-2007 season.
"To finance this highly-complex project, Ashburton Properties have obtained a £260million senior loan facility from a stadium facilities banking group which comprises: the Royal Bank of Scotland PLC, Espirito Santo Investment, The Bank of Ireland, Allied Irish Banks PLC, CIT Group Structured Finance (UK) Limited and HSH Nordbank AG. Interest on the senior debt is set at a commercial fixed rate over the 14 year term.
"Arsenal are contributing the balance of the stadium project costs through funds from Granada, Nike and the sale of surplus land assets relating to the stadium site.
"Also once the club relocates in 2006, Arsenal have planning permission for a residential development of Highbury.
"Appropriate backing facilities have also been secured for other members of the Arsenal Group with the Royal Bank of Scotland PLC and Barclays Bank plc, Barclays will continue to act as bankers to Arsenal Football Club."
Wenger said of the announcement: "This is very exciting news.
"This club has such an illustrious past but today is one of the most important dates in our history.
"It has been a big target of mine to participate in pushing the club forward and relocating to a new stadium is a necessity as it will enable us to become of one the biggest clubs in the world.
"Also, I love the fact that the new site is so close to Highbury, it's where our heart is and from a personal point of view, I am hopeful of being the Arsenal manager when we move to the new stadium in 2006."
The stadium will be built by Sir Robert McAlpine under a £220million fixed price contract, which also includes the construction of the new waste and recycling centre.
Arsenal chairman Peter Hill-Wood added: "This is excellent news for Arsenal.
"Over recent years we have established ourselves as one of the leading clubs in Europe and the stadium, which we can now positively look forward to, will provide us with the opportunity to sustain and build on this position.
"The financing of the group is now complex, but throughout the financing structure we have retained the twin objectives of continued investment in our outstanding playing squad and separate funding for the building of the stadium."
Story filed: 09:43 Monday 23rd February 2004
[此贴子已经被作者于2004-2-23 17:57:55编辑过]
