Wales: Swansea's stadium lease approved

source: BBC.com

Wales: Swansea's stadium lease approved As expected, Swansea City FC's bid to lease its Liberty Stadium home has been backed by the council cabinet. This paves way for expansion and upgrades.

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Yesterday the Swansea City Council cabinet agreed to approve a 37-year lease of Liberty Stadium. The Swans will pay Swansea council £300,000 a year, give it a cut of stadium naming rights revenue and build 3G pitches in the city – two every 5 years.

Both Swansea and the Ospreys rugby region have played at the £27m venue since 2005, paying a nominal rent to the management company running it. Now Ospreys are still assured their right to play but the venue will be managed by the Premier League co-tenants.

Swansea council's cabinet rubber-stamped the deal on Thursday but will retain ownership of the ground.

Liberty StadiumPhoto: Matt Daubney (cc: by-nc-sa)

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