France: National rugby stadium to be funded partly with bonds

source: PIE-mag.com

France: National rugby stadium to be funded partly with bonds With construction due to begin next year, funding needs to be secured for France's largest stadium. The national federation FFR approved issuing bonds worth €200 million, covering over one third of the project.

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During annual congress of the French Rugby Federation (FFR) delegates voted for the emission of bonds totalling at €200 million and representing a third of the entire project in Ris-Orangis, south of Paris. First phase, to begin in upcoming months, will see bonds for € 16 million released for sale.

Buying the bonds is thought to give clients priority for tickets for as long as 5-20 years, once the 82,000-seater is opened in 2017/18.

FFR wants construction to begin next year. Estimations say that not having their own stadium may have cost FFR €18 million a year with a single fixture at Stade de France representing €5 million of lease expenses. This combined with dependency on schedules of stadium operators was decisive for the initiative of building a stadium for FFR.

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