Swansea Council is set to consider selling the Swansea.com stadium to the Swans in a deal aimed at boosting its bid for a return to the Premier League while delivering wider benefits for our city.
Swansea Council’s Cabinet is being asked to approve the sale of the authority’s freehold interest to its new American owners including Snoop Dogg, Martha Stewart and Croatia World Cup legend Luca Modric.
Under the proposed agreement, the club would gain ownership of the stadium, creating new opportunities to increase income, attract investment and support its long-term ambitions.
The proposed sale is still subject to ongoing negotiations between the council and the club and the details remain commercially confidential.
The negotiations are supported by an independent valuation of the property carried out on behalf of the Council and demonstrates best value for the Council and the taxpayer.
The proposal forms part of the council’s wider commitment to supporting both professional and grassroots sport across Swansea with all the economic benefits that involves.
Alongside ongoing investment in community sports facilities, the council is also working with the Ospreys to invest £7.6m at St Helen’s to create a new long-term home for the Ospreys and support the future of professional rugby in the city.
Council Leader Cllr Rob Stewart said: “Sport plays an important role in Swansea’s success and we’re committed to supporting opportunities for people to take part, enjoy and benefit from it at every level.
“We want to do all we can to help the Swans be successful and return to the Premier League so fans can see them playing teams like Liverpool, Manchester City and Manchester United every week.
“The Swans seek to purchase the stadium because they believe it will help the club invest in its future as a leading football club with a brilliant existing fanbase with the potential for more in the years ahead.”
He said: “We’re also investing grassroots facilities and community sport, supporting professional rugby through our investment at St Helen’s, and working with Swansea City AFC on proposals that will help the club deliver on its ambitions for the years ahead.
A return to the Premier League would boost Swansea’s profile to audiences around the world and give a lift to the city’s local economy.
Cllr Stewart said: “The residents of Swansea have had tremendous value from the stadium with the Swans estimating their glory years in the Premier League generated more than £500m for the local economy
“When Swansea City succeeds, the benefits extend far beyond the stadium. Local businesses benefit from increased footfall, jobs are supported, the city gains valuable international exposure, and communities enjoy a renewed sense of pride and optimism.”
While negotiations over the stadium continue, fans are already looking ahead to the new campaign. And although football bookmakers don’t provide odds on the acquisition, most are gearing up for the start of the Premier League after the World Cup is over. Those interested in the latest markets and promotions can compare the best football betting sites ahead of the new season.
