Source: FOOTYMAD
Aberdeen Get the Nod To Increase Their Debt
The Scottish Government have passed Aberdeen's stadium plans. Aberdeen's plans to build a new stadium took a step closer to reality after the Scottish Government gave their go-ahead fro the project. permission to build a new stadium. This news sets the Dons off on the finance raising part of the project. The proposed new 22,000-seat community stadium at Loirston Loch, south of the city centre, will cost £38million at today's prices but, as we all know, projects of this size inevitably cost more in the long run. The project will include training facilities and an adjacent 3,000-seat arena for Highland League side Cove Rangers. Aberdeen chief executive Duncan Fraser said: "The decision of the Scottish Government to allow the stadium development to proceed is a critical step forward and follows on from the decision of the council to support the proposal following the most comprehensive consultation and public scrutiny. With the continuing support of our major shareholders and the bank we can now move forward in the coming months to bring together a funding package. We will also be working hard to finalise the complex legal agreements tied down with regards to the development. A substantial element will come from the proposed sale of the existing Pittodrie site and we hope to have planning approval for this within the next couple of months. We are also working with Cove Rangers to bring forward the plans for their new stadium as well as first-class football training and community facilities at Calder Park. The huge funding challenge will result in a big call on our major shareholders and others. We also hope to secure a significant contribution from the naming rights, enabling funding and a manageable mortgage. The challenge is massive and we will explore all options to ensure this major project, which will benefit the whole of the region, is successfully delivered." Editor Ger Harley (ger@scottishfitba net)Admin Team (admin@scottishfitba net)This is ScottishFitba Net
