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Xtratime's Head of Humour 2007
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Arsenal confirms funding for Stadium project

http://www.arsenal.com/sportsappcontroller.jsp?command=setSelectedId&nextPage=displayheadline&type=com.sportapps.news.NewsItem&id=4385139

Following months of negotiation, Arsenal is today delighted to confirm that funding for its £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 has 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 is 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 has 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.

More information on the new stadium


Commenting on the news Arsenal Director Danny Fiszman said: "We believe we have now effectively concluded the pre construction phase of the project and secured the Stadium for Arsenal with all its benefits. This is a very considerable achievement given the complexity of the project across an enormous range of issues and that, in addition to the stadium, we will also be delivering one of the largest regeneration schemes in the country."

"A lot of people have worked very hard to bring us this far but I would particularly like to thank Islington Council, who have worked alongside us from the outset, the London Development Agency and the Mayor for all their support. We now look forward to working with our banking group and chosen constructor, McAlpine, as we move into the construction phase of the project."

Arsenal Chairman Peter Hill-Wood concurred: "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."

Arsenal Manager Arsène Wenger enthused: "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 £220m fixed price contract which also includes the construction of the new waste and recycling centre.

More information on the new stadium


[23 February 2004]


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the reports from the site from Gooners that have visited say that McAlpines have already done most of the prep work,and some of the stadium is already above the ground :happy:

this stadium is going to rise very fast and be part of the Holloway skyline within months,as McAlpines have been working on all the pre-orders for the last year,this is amazing news.

we owe Wenger ,Dein,Fizsman and the rest of the board,amazing team,amazing training ground and now amazing stadium,just a dream when Wenger took over we could be in this position working on a budget that Manchester United use as petty cash. :happy:

60,000 muppets is our new mantra,London domination,European domination,WORLD DOMINATION!!!!!!!!!!! :fero: :fero:

cackle,cackle,HA,HA,HA even Superman won't be able to stop us as we systematically destroy and reconstruct the World around us,we are now employing Scientists that will clone Vieira and Henry,:groan: :groan: :groan:

COME ON THE ARSENAL!!!!!!!!!! :cool: :devil: :fero:

COME ON ASHBURTON GROVE!!!!!! :fero:
 

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what is you suggestions about the name

I think it's

Ashburton Grove

the best
 

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£350 Million plus mor ein interest for a 60,000 seater stadium.

I have to say it's a massive rip off :eek:...

The Millenium stadum only cost £150 Million.

Oh well it's another good satdium added to the English list ^_^.
 

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JackoTheDon said:

Oh well it's another good satdium added to the English list ^_^.

good stadium, only good

come on

this will be the pride of ENGLAND

there is no stadium in England can match him in beauty
 

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JackoTheDon said:
£350 Million plus mor ein interest for a 60,000 seater stadium.

I have to say it's a massive rip off :eek:...

The Millenium stadum only cost £150 Million.

Oh well it's another good satdium added to the English list ^_^.
It's not just a stadium. The £350m also covers construction of 1,000 apartments and construction of 2,000 new homes (and destruction of 800). That should earn us approximately £100m, bringing the cost down to £250m.

Arsenal FC - Housebuilders :eek:
 

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is there any expantion slopts in the stadium for the future?
 

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Xtratime's Head of Humour 2007
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Discussion Starter #10
Jacko,this is the only site we could find in Islington,and as we are a club of honour and tradition we fought tooth and nail to stay in Islington. :proud:

we could have found cheaper land somewhere outside the borough with no problems,it's a bit stupid to compare prices in Cardiff with that of London,as Bastin points out all the regeneration we are doing,also we have to build a brand new Waste disposal unit costing £60m because we have to knock down the old one.

many lesser clubs would have taken the cheaper option and sold their traditional support down the river,our board have triumphed over almost insurmountable problems not to mention the mauling the media has given them,they have come out laughing,and all Arsenal fans can feel justly proud of the job they have done. :cool:

great times for the Arsenal,the future is looking so good. ;)
 

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Xtratime's Head of Humour 2007
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Discussion Starter #11
Zhuge Liang said:
As far as I know, there's option for us to expand our stadium capacity in the future. Probably about 5,000 more seats.
I don't know if we can expand on the design,however the hardest part will be getting the decision from Islington council,remember this a residential area and the NIMBY's are a nightmare. :(
 

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Jern Lizardhous said:
first game Swift will probably be a pre -season friendly,i'd imagine July/August 2006 :happy:

order your flights to Heathrow now :D


------------------------------

check these pictures out. :cool:


these are cool
if i have enough money i will

i might go apply for international studies in london :D
 

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count me in for the openin game at the new stadium if finances permit.
i think the stadium should be called:
"THE ARSENAL STADIUM"
nicknamed: HIGHBURY

well i know there is no change from the name of our current stadium, but just lets stick with that as the old stadium will henceforth be called HIGHBURY SQUARE.
btw does any one know if the ARSENAL STATION is being shifted as well??
 

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Xtratime's Head of Humour 2007
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Discussion Starter #14
no need to shift Arsenal station,there are many round the area,we will be refurbishing Holloway Road station and building escalators so loads of Gooners will be able to get to the match quickly. ;)

I doubt they will let us rename it to the Arsenal,might cause a bit of fuss because it's a famous main road.:D
 

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Xtratime's Head of Humour 2007
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Discussion Starter #16
it's just famous because it is a main road that's all,everyone knows it because it has been there forever and is named after the district.

Gillespie Road where Arsenal station is ,is just a backstreet.

people with no interest in football wouldn't be happy if the Holloway Road tube station was renamed Arsenal :D
 

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i was looking at some of those photos jern, what is highbury going to turn into?

by looks of it some hotel with a garden in the middle?:confused:
 

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Xtratime's Head of Humour 2007
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Discussion Starter #18
all the stands will be flats for people to live in,the East stand facáde will remain because it's a listed building,also the pitch will have to remain as the gardens, because many Gooners ashes have been sprinkled on it :eek: :D
 

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I really looking forward to this new stadium. It will be really sad to leave Highbury but I think the soul of Highbury died a bit anyway when the North Bank terracce was rebuilt, Not that I rember the Old North Bank (That was a few years before my time) but that's what everyone says :D . No seriously though the atmosphear at Highbury and the number of people who is allowed to watch our beloved team is just not accaptable when you think about how many fans we've got and the quality of our players.

The worst thing about this new stadium though is the name. I'm 95 % sure we will sell it some company and I have already started to call it Burger King Stadium, It can't get much worse than that can it?
 

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Someday if I have money, I'll visit London and at that time the Arsenal stadium probably has been relocated to Ashburton Grove. Actually I wish to meet Dennis Bergkamp. I think it'd be really tough to search him after he is retired from football. I really wish to have photograph with him and get his autograph. :( :depress:
 
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