THERE has been some misinterpretation appearing in the media after our recent announcement regarding the club seeking new investment for the community stadium project and it is hoped that the following will clarify the position.
The cost of the community stadium complex at today’s prices is estimated to be £22million. The club’s contribution is anticipated to be £6million. This leaves £16million which is currently the funding gap. The enabling development with an associated mix of housing and retail will provide this gap funding.
The planning process will require the club to have explored all sources of raising finance to minimise the extent of the enabling development that is required to deliver the community stadium complex. Therefore the club is exploring potential investment locally, nationally and internationally. This due diligence is a very important part of the planning process and ultimately the club achieving relocation.
Depending on the level of potential investment, this may involve newcomers working with the existing board of directors or could lead to a regime change.
Put in simple terms, if there is no new external investment achieved the club will require the enabling development to provide circa £16million to deliver the planned stadium complex. On the other hand if investment of £16million was secured then the scheme could be delivered with no enabling development.