Plymouth will get new stadium regardless of World Cup decision
Thu 16th Sep 2010 | Football Stadiums & Facilities
Plymouth Argyle Football Club will get its new £50million stadium whether or not Plymouth succeeds in its bid to become a host city for the 2018 World Cup, a club director has pledged.
However, the club’s executive director Keith Todd admits sorting out the club's finances is proving a much harder task than he expected.
Speaking to This is Plymouth, Todd said the aim of separating the stadium from the football club was to set up a structure to raise £50million for the new, enlarged Home Park.
The club will have a priority right to play in the stadium, currently used only for 23 home league games and a handful of home cup games each season, and benefit from additional events held at Home Park, whose new playing surface is designed to take extra wear and tear.
He said: The primary impact of the World Cup is on the timing of phases of building. We are planning to start Phase 1 as early as possible next year, but subsequent phases will depend on the success of the stadium as a venue, and the success of the club."
He added: "The club will also not have to find the capital to build the new stadium. The aim is to have a debt-free club, although that may not be immediate, and then operate the club within its means."
Mr Todd, an Argyle supporter since he was a pupil at Hyde Park Junior School, said he was surprised that majority shareholder Yasuaki Kagami had still not attended a home game, though he followed Argyle's results each week.
"We need to correct this and get Kagami and his family over," he said.
He was also candid about the financial headaches which accompanied relegation last season.
"There is no question we have to provide the best opportunity to bounce straight back to the Championship whilst trying to ensure that the club is financially stabilised," he said.
"I totally under-estimated how difficult it is to get the finances sorted.
"Cost-cutting is not straightforward because of the nature of players' fixed-term contracts, and revenue generation is directly tied to performance .
"So with poor results, income goes down but costs don't very easily."
- SUBSCRIBE TO THE F.C. BUSINESS RSS FEED
- BECOME A FAN OF F.C. BUSINESS ON FACEBOOK
- FOLLOW OUR TWEETS ON TWITTER
- LINKED IN TO FOOTBALL INDUSTRY PROFESSIONALS
If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk
Google
Yahoo
Live
del.icio
DiggRelated Articles
SAPCA Appoints New Technical Manager
Wed 23rd May 2012 | Football Stadiums & Facilities
SAPCA, the Sports and Play Construction Association, has appointed Mike Cox as its new Technical Manager. Chris Trickey, CEO of SAPCA said, "One of the most important areas of SAPCA’s activity...
Gary Neville becomes Football Foundation ambassador
Wed 23rd May 2012 | Football Stadiums & Facilities
Gary Neville has become the Football Foundation’s latest signing after he agreed to become one of its ambassadors. The Football Foundation is the country’s biggest sports charity and funds...
Synthetic Turf Top Of the Agenda For Football League
Fri 18th May 2012 | Football Stadiums & Facilities
The European Synthetic Turf Organisation (ESTO) has pledged its commitment to profiling the benefits of synthetic turf in sport, as it champions a positive decision in advance of the Football...
Southgate Calls For Investment In Grassroots Facilities
Thu 17th May 2012 | Football Stadiums & Facilities
Gareth Southgate, Head of Elite Development at The FA, believes investment into the country’s grassroots football facilities is crucial to the technical development of the next crop of English...
