Cardiff, Wales Council Economy Chief Russel Goodway said League Championship side Cardiff City's promotion to the Premier League is the equivalent to the Welsh capital "winning the EuroMillions," according to Peter Law of WALES ONLINE. Goodway described City’s rise to football’s elite as a "life-changing moment" for Cardiff that will bring priceless global exposure. He said, "This is really a change of gear for this city in terms of our global profile. That can’t be underestimated what that does in terms of recognition." The council is already guaranteed to enjoy a cash windfall from City's promotion. As part of the lease for the stadium land, the club owes the authority a one-off payment of £720,000 ($1.1M) plus interest.
City will also have to fund an annual £250,000 ($381,000) bursary "for the development of footballing talent among schoolchildren in the capital" each year it remains in the top flight.
Asked how the money would be spent, Goodway replied: "We have ideas, yes, but that is a matter the leader will have to determine -- and I’m sure she’ll get many bids. It’s very welcome because it means we can be a little more ambitious about our agenda for community sport" (WALES ONLINE, 4/24).
