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covboy1987

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The Rioch was built in 2005 and the liberty stadium built in 2005 - The liberty stadium was paid for by Swansea council - Both Swansea city and Osprey RFC have been paying the council a nominal rent to play there since 2005 - Swansea new lease rental agreement going forward is reported at £300,000 per year but they now have access to all revenues as of February 2018

Council and Swans agree lease for Liberty Stadium

SWANSEA Council has handed over operational control of the Liberty Stadium to Swansea City AFC in a deal which will see the authority receiving an annual income from the ground for the first time.

It will see the Premier League club pay annual rent to the council as well as providing a share of any money from the stadium naming rights. The Swans will also commit to building 3G sports pitches in communities in Swansea as part of its arrangements with the Premier League.

The changes took place yesterday, February 16, at the Liberty Stadium in an arrangement that will benefit the football club, the Ospreys and the council for years to come.

As part of the new agreement, the football club now has have sole control of SSMC and the stadium in the future. The agreement would also:

* Allow the council to begin receiving direct revenue from the stadium for the first time ever through guaranteed rental payments

* Give the Swans the ability to control its own destiny and stay competitive with other Premier League clubs by tapping into new revenue streams at the stadium

* Allow the Ospreys to continue playing at the stadium on a long-term lease.
 

tisza

Well-Known Member
Don't like comparisons with Swansea. Elephant in the room was the large level of debt/loans needed to build Ricoh. Swansea was basically fully funded through sale/development of the rest of the site. Also stadium "only" cost 27m and is just a sports stadium
 

Evo1883

Well-Known Member
Amazing how that stadium cost only 27 million and is significantly more modern looking and atmospheric than the Ricoh , what a terrible design
 

peace ndlovu

Well-Known Member
Amazing how that stadium cost only 27 million and is significantly more modern looking and atmospheric than the Ricoh , what a terrible design
I’m pretty sure that has a lot to do with the Ricoh being much bigger and the fact the 14 years of its existence has seen some pretty dismal times for us.
If the Liberty has a 15,000 crowd, it’s nearly 3/4 full, but a similar crowd at the Ricoh would mean it was less than half full.
 

ovduk78

Well-Known Member
Swansea's old ground is now a council owned communal allotment so I'm guessing they didn't sell it so would have made no money from that. Didn't the sale of HR pay off some of the debt to the likes of McGinnity & Robinson?
 

Captain Dart

Well-Known Member
Don't like comparisons with Swansea. Elephant in the room was the large level of debt/loans needed to build Ricoh. Swansea was basically fully funded through sale/development of the rest of the site. Also stadium "only" cost 27m and is just a sports stadium

With the Vetch Field, St Helen's and The Gnoll no longer being up-to-date venues to play at, and both the Swans and the Ospreys not having the necessary capital to invest into a new stadium, Swansea council and a developer-led consortia submitted a proposal for a sustainable 'bowl' venue for 20,520 seats on a site to the west of the River Tawe on the site of the Morfa Stadium, an athletics stadium owned by the City and County of Swansea council. It was funded by a 355,000 ft retail park on land to the east of the river. The final value of the development was in excess of £50m.[4]

A large part of the Ricoh costs were funded likewise mainly by sale of land to Tesco, but the £20M hole in finance fucked up everything ever since.
 

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