Ashburton Finance In Place - Daily Mail

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nnn

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Daily Mail , Monday 8th Decmber 2003

Go Ahead Gunners

Arsenal Clinch Cash Deal At Last


Arsenal will give their fans the best possible christmas bonus this week, by declaring the go ahead for building to start on their new £400 million stadium at Ashburton Grove.

The project has been in cold storage for most of the year due to serious funding problems, but lead investor the Royal Bank of Scotland has now agreed details on the pivotal £260m loan as part of a six bank consortium.

Arsenal have also negotiated the other obstacale blocking progress, with the imminent announcement of the inquiry into their request for compulsory purchase orders on the five small manufacturing buissness still remaining on the site.

This will be granted to finally allow the builders to start their construction work early in the new year, with a fixed-price contract already in place with the McAlpine Group. The 60,000-capacity stadium with a turnover enabling Arsenal to compete on level terms with great rivals Manchester United, is due to open for the start of the 2006/2007 season - shortly after the new Wembley.

The green light for the new stadium is a personal triumph for Arsenal's major shareholder Danny Fszman, who has been overseeing the ground move for over four years.

He has kept faith in the highly complex property initiative when other board members preferred the option of being tennants at the new Wembley, which seemed to make more fianancial sense given the complexities of Ashburton Grove.

Now the extra income generated from Arsenal's dedicated new stadium is also likely to guarentee Manager Arsène Wenger's future at the club, as well as star players such as Thierry Henry and Patrick Vieira.

Another big bonus of moving will be the influx of £30 million from Granada as part of the media rights deal signed in september 2000. The TV network took a five percent share in the club with the promise of a further 4.9% shareholding when all the Grove funding had been signed off.


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I had to type all that out so be appreciative :D :D :) :)

BEST. NEWS. EVER.
 

Natnat

Active Member
Elite
nnn you are a superstar thank you very much for all your effort
It is very much appriciated.
What nice news to read on a Monday morning.
Mind you fans of the wrong side of North London will be chocking over their cornflakes :lol:
 

JazzG

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Elite
Good news and cheers for typing it up :) The evening standard are reporting this as well
 

lewdikris

New Member
Elite
Cheers for the type-up, but believe NOTHING until it's officially announced.

The compulsory purchases will be resolved this week, but i doubt that means it'll all go now through.

Hope i'm wrong.
 

Andrew

New Member
Great stuff. I love how our club deals with the finance and stuff. I think we are the best run club in the world. We don't spend too much and still have a great team. And now they are being 100% sure about the finances before the stadium is started. Another certain Yorkshire club should take note.
 

Superdudes

New Member
i say.. hip hip hooray.. :D evrythings gonna go our way.. a boost to the team spirit.. we might.. thrash loko dare i say.. 5-1.. and if it does.. we can thank the royal bank of scotland..
 
lewdikris said:
Cheers for the type-up, but believe NOTHING until it's officially announced.

The compulsory purchases will be resolved this week, but i doubt that means it'll all go now through.

Hope i'm wrong.

Once the CPO's come back it's all systems go. I've been telling you for a while that the finance was sorted pending the CPO's. and if they (FINALLY) get approved this week, it's time to start packing!
 

Beany

ITK
Elite
ExiledInNewcastle said:
lewdikris said:
Cheers for the type-up, but believe NOTHING until it's officially announced.

The compulsory purchases will be resolved this week, but i doubt that means it'll all go now through.

Hope i'm wrong.

Once the CPO's come back it's all systems go. I've been telling you for a while that the finance was sorted pending the CPO's. and if they (FINALLY) get approved this week, it's time to start packing!

Excellent, though it was always going to happen.

Can't really blame the banks; they've caught a bit of a cold recently on footballing deals.

CPO's will go through deffo; just a question of money. It's a Court of law not morals and the law has said yes; those of the diehard residents intent on recreating Custers last stand are about to get an arrow up their jacksies...
 

lewdikris

New Member
Elite
You've been telling us .... but it don't mean i'm not too stoopid to listen.

Makes absolute sense though. Can't see why CPOs wouldn't be granted, but if they're not, never fear, i'll be down with a sledgehammer friday morning first thing.
 

JGooner

New Member
Trusted
never mind £450m for the stadium, i would pay £450m to see the look on the face of that ***** you has been protesting against our new stadium over recent years. Alison Carmichael or something. Hahahahaha!!!! Eat that, you Islington hippie!
 

Adam

New Member
Elite
JGooner said:
never mind £450m for the stadium, i would pay £450m to see the look on the face of that ***** you has been protesting against our new stadium over recent years. Alison Carmichael or something. Hahahahaha!!!! Eat that, you Islington hippie!

Lol! I have seen her on the tele. So annoying, Argh!
 

JGooner

New Member
Trusted
and, a few months ago when the banks withdrew from the original finance agreement, she sent out a press release saying that the stadium would never be built and that AFC should have listened to whining communists like her in the first place. What happened to that, eh Carmichael? I am going to find out her address and send her a lifesize cardboard cutout of Danny Fizsman.
 

Stim

New Member
Elite
Wasn't there supposed to be a case in the European court or something to stop the stadium being built? What happened to those people protesting? Sounds a bit dodgy that they just stopped protesting.
 
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