Premier League side Swansea City is "finally set to take control of the Liberty Stadium" in a deal that would generate £300,000 ($395,000) per year in rent for the Swansea Council, according to Richard Youle of WALES ONLINE. The local authority built the £27M stadium, which opened in '05, but "has not had guaranteed rental income since then." As part of the planned deal, it would also receive "a percentage of any stadium naming rights deal in the future." The new arrangement would give the club "more control of its operations, including potential stadium expansion, which would in turn make a naming rights offer more attractive." Swansea Council's cabinet is due to make a decision on the stadium transfer proposal, which is "not thought to involve an upfront payment," at a meeting on Nov. 16. Negotiations between the club and the council "have been under way for a long time, and a deal now looks all but imminent" (
WALES ONLINE, 11/6). The BBC reported Swansea's cabinet "should rubber-stamp the deal." It will retain ownership of the stadium and Pro14 side Ospreys "will continue to play there." Council Leader Rob Stewart said, "We've moved from a position where the taxpayer in Swansea was getting zero from this asset. This gives the taxpayer a fair deal, it gives the Swans and the Ospreys a fair deal in this fantastic theatre where they can realize their dreams." The agreement could also include a "possible expansion of the ground," which currently holds 21,000 spectators. Swansea City COO Chris Pearlman said, "Our gut feeling is we can sell more tickets. What's important to us is making sure we put in the right number of seats and we do it in the most cost-effective manner as possible" (
BBC, 11/6).
