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Salem6
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|  | A S H B U R T O N _ G R O V E
« Thread Started on Feb 23, 2004, 10:29am » | |
Following months of negotiation, Arsenal is today delighted to confirm that funding for its £357million stadium project has been secured and construction and regenerative work in and around the site has already resumed, thus ensuring the new 60,000 capacity stadium opens as planned for the start of the 2006/2007 season.
To finance this highly complex project, Ashburton Properties has obtained a £260million senior loan facility from a stadium facilities banking group which comprises: the Royal Bank of Scotland PLC, Espirito Santo Investment, The Bank of Ireland, Allied Irish Banks PLC, CIT Group Structured Finance (UK) Limited and HSH Nordbank AG. Interest on the senior debt is set at a commercial fixed rate over the 14 year term.
Arsenal is contributing the balance of the stadium project costs through funds from Granada, Nike and the sale of surplus land assets relating to the stadium site. Also once the Club relocates in 2006, Arsenal has planning permission for a residential development of Highbury.
Appropriate backing facilities have also been secured for other members of the Arsenal Group with the Royal Bank of Scotland PLC and Barclays Bank plc, Barclays will continue to act as bankers to Arsenal Football Club.
Commenting on the news Arsenal Director Danny Fiszman said: "We believe we have now effectively concluded the pre construction phase of the project and secured the Stadium for Arsenal with all its benefits. This is a very considerable achievement given the complexity of the project across an enormous range of issues and that, in addition to the stadium, we will also be delivering one of the largest regeneration schemes in the country."
"A lot of people have worked very hard to bring us this far but I would particularly like to thank Islington Council, who have worked alongside us from the outset, the London Development Agency and the Mayor for all their support. We now look forward to working with our banking group and chosen constructor, McAlpine, as we move into the construction phase of the project."
Arsenal Chairman Peter Hill-Wood concurred: "This is excellent news for Arsenal. Over recent years we have established ourselves as one of the leading clubs in Europe and the stadium, which we can now positively look forward to, will provide us with the opportunity to sustain and build on this position. The financing of the Group is now complex, but throughout the financing structure we have retained the twin objectives of continued investment in our outstanding playing squad and separate funding for the building of the Stadium."
Arsenal Manager Arsène Wenger enthused: "This is very exciting news. This Club has such an illustrious past but today is one of the most important dates in our history. It has been a big target of mine to participate in pushing the Club forward and relocating to a new stadium is a necessity as it will enable us to become of one the biggest clubs in the world. Also, I love the fact that the new site is so close to Highbury, it's where our heart is and from a personal point of view, I am hopeful of being the Arsenal manager when we move to the new stadium in 2006."
The stadium will be built by Sir Robert McAlpine under a £220m fixed price contract which also includes the construction of the new waste and recycling centre.
http://www.arsenal.com/thestadium/index.html
http://tinyurl.com/2td79
Also see:
http://www.sportsvenue-technology.com/projects/arsenal/
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Salem6
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| | Re: Arsenal confirms funding for Stadium project
« Reply #1 on Feb 23, 2004, 10:30am » | |
ASHBURTON GROVE - ARSENAL STADIUM, UNITED KINGDOM
English Premiership soccer club, Arsenal had hoped to move into its new 60,000 capacity stadium in time for the start of the 2005/06 Premiership soccer season. Due to a number of delays, the project completion date has been moved. It is now hoped that the new stadium will be ready in time for the start of the 2006/07 soccer season.
It is due to the complexity of the £400 million project that a number of delays have occurred. These issues cover a wide range of topics from legal, financial and transport infrastructure problems through to relocation of existing local businesses and provision of affordable housing. The development is considered one of the largest regeneration projects in the whole of the UK, which includes 2,300 new homes as well as a new state-of-the-art stadium.
STADIUM LOCATION
The club looked at a number of sites including Wembley Stadium, but decided to apply to Islington council for planning permission to build a new stadium in Ashburton Grove, north London, near to the club’s present ground in Highbury.
DESIGN
Arsenal’s proposals encompass three phases. The HOK Sport-designed stadium; the regeneration of Lough Road with housing by architects CZWG and a new sealed waste and recycling plant by Sheppard Robson; and housing on the site of the existing stadium site, by architects, Allies and Morrison.
Ashburton Grove, where the new stadium is to be built, covers 27 acres. Compared with, for example, the 100-acre Manchester United site, this may seem small, but the vast majority of Manchester United supporters arrive by car. The Arsenal situation is entirely different with almost 70% of supporters arriving by public transport; the highest in the Premier League.
The stadium architect, HOK Sport, has incorporated a number of environmentally sustainable aspects in the new stadium design, such as introducing a passive and mixed mode ventilation system to minimise the use of air conditioning in the stadium. Daylight will be maximised through the use of skylights and high levels of fenestration and photovoltaic solar power will be used throughout.
There will be 12,000m² of green roofs, increasing thermal insulation and creating substantial biodiversity benefits. All homes will be built to BREEAM Eco Homes standards, the internationally recognised standard for the building industry.
Architects, Allies and Morrison, have designed the £60 million conversion of Arsenal FC’s current stadium at Highbury. It includes converting the Art Deco stands into flats costing up to £750,000. The north and south stands, however, will be demolished to make way for mews developments, including social housing. Work is due to start in late 2006 and will take at least 18 months.
The pitch will become a grid of tall hedges, planting and hard landscaping by Christopher Bradley-Hole.
In the overall proposal there are a number of community projects. These include community healthcare facilities and children’s nurseries at both Highbury Stadium and Lough Road. There will also be office space within the Ashburton Grove scheme to be offered to the health authorities, to enable the existing former neighbourhood office (currently social services offices) on Drayton Park to be converted to a primary healthcare centre.
ARSENAL STADIUM CONSTRUCTION
Sir Robert McAlpine won the £200 million plus contract against competition from Taylor Woodrow Construction to build the complex.
As well as the stadium itself, the contract includes the construction of three bridges over railway lines, roads and site buildings, a new waste recycling centre and Council depot, offices and the new Arsenal community sports centre.
During the construction phase of the four-tier structure, energy use will be minimised by choosing, where practical, materials that are less energy intensive to manufacture. Rainwater will be collected and stored for reuse in irrigation and toilet flushing. By reusing and recycling all demolition waste the project aims to reduce concrete and ferrous waste landfill by 70%.
CURRENT STATUS
On 10 December 2001, with an overwhelming majority, Islington Council gave the go-ahead for the new stadium at Ashburton Grove in north London.
This was the first of three major hurdles to be overcome by the soccer club in obtaining planning permission. The second decision followed swiftly in January 2002, when the Mayor of London, Ken Livingstone gave his full support to Arsenal's planning application.
Secretary of State for Transport, Local Government and The Regions, Rt. Hon Stephen Byers, gave the final decision on 20 February 2002. He decided not to call-in proposals for the stadium having decided that a Public Inquiry was not necessary.
Had the planning application been rejected, it would have meant a Public Inquiry, which could have delayed the project by up to two years.
In April 2003 it was announced that the project end date of August 2005 would not be achieved. This has been attributed to a number of factors including the inability to relocate all of the relevant London Borough of Islington council operational services in the area. As not all these services had been moved in the agreed time period, it compromised the club's position which had to guarantee the main contractor, McAlpine, vacant possession of the site by a specific date in order for construction to start. This was part of the critical path to the August 2005 contracted delivery date. This prevented any further enabling work being carried out by McAlpine.
Another factor has been the funding of the new stadium. As the banks require the same assurances as McAlpine, i.e. vacant possession of the site, they are not able to provide funding for the project until that is achieved. It is hoped that work will recommence by the end of 2003.
PLANNING APPLICATION
The club, having initially lodged its first request in November 2000, has submitted three major revisions. The final revision was made in August 2001.
For Islington Council, this has been the largest public consultation ever undertaken on a planning application in the borough. Literally thousands of local residents and groups have been able to give their views, which has resulted in over 100 amendments to the plans including the introduction of a large new community health facility and a redesign of proposed housing at Highbury stadium to save a large horse chestnut tree.
Along with the application, Arsenal's Environmental Impact Assessment was independently audited by the Institute of Environmental Management and Assessment, which gave positive ratings to every single aspect of the Club's environmental impact measures.
LAND ACQUISITION
Land acquisitions have been ongoing throughout the planning application process, which have not been without problems. Sainsbury's supermarket, which owned a crucial eight-acre area of land in the middle of the Ashburton Grove site, put it up for sale on the open market. This was not the first problem to face the Ashburton Grove site. A waste disposal unit on the site had to be moved within the borough to make way for the new development, which met with some resistance from local residents.
BUSINESS RELOCATION
An area of contention has been the need to relocate a number of businesses from Ashburton Grove. Within the estimated total cost of £400 million, £125 million is allocated to the building of the stadium, with the rest going towards relocation costs which have increased due to the delay of the project.
Highbury is built in a residential area. The new stadium will be at least 100m from the main residential areas on all sides.
WASTE DISPOSAL STATION
The proposed new waste transfer station on derelict land at Lough Road near Holloway in North London will be screened to make it less visible.
Arsenal acquired the Lough Road site from Railtrack to build a replacement Waste Transfer Station. It will comprise an enclosed tipping hall up to 20m high, with ramped access. The facility has been designed to achieve high standards of noise, dust and odour control. The Waste Transfer Station will serve Islington and parts of Hackney and Camden and all of the vehicles are already on the local road network on their way to and from Ashburton Grove.
The new state of the art waste and recycling centre will be a vast improvement on the existing situation at Ashburton Grove, which operates on the basis of tipping the incoming waste on the floor and transferring it to open top bulk vehicles for final disposal. The Lough Road scheme will unfortunately result in the loss of 15 dwellings, however, 1,000 new dwellings will be created overall by the proposals.
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Salem6
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| | Re: Arsenal confirms funding for Stadium project
« Reply #2 on Feb 23, 2004, 10:35am » | |
![[image]](http://www.sportsvenue-technology.com/projects/arsenal/images/Arsenal_01.jpg)
The proposed Lough Road development
![[image]](http://www.sportsvenue-technology.com/projects/arsenal/images/Arsenal_02.jpg)
Overview of the north London area showing both the location of the current Highbury stadium and the proposed site.
![[image]](http://www.sportsvenue-technology.com/projects/arsenal/images/Arsenal_03.jpg)  
The new Ashburton Grove stadium at night.
![[image]](http://www.sportsvenue-technology.com/projects/arsenal/images/Arsenal_04.jpg)
The proposed changes to the existing art-deco east stand at Highbury Stadium.
![[image]](http://www.sportsvenue-technology.com/projects/arsenal/images/Arsenal_05.jpg)
The redeveloped Highbury Stadium from the new south end housing
![[image]](http://www.sportsvenue-technology.com/projects/arsenal/images/Arsenal_06.jpg)
The new HOK Sport designed Ashburton Grove stadium’s infield
![[image]](http://www.sportsvenue-technology.com/projects/arsenal/images/Arsenal_07.jpg)
The new Arsenal stadium
![[image]](http://www.sportsvenue-technology.com/projects/arsenal/images/Arsenal_08.jpg)
The pedestrian bridge from Drayton Park to the new stadium
![[image]](http://www.sportsvenue-technology.com/projects/arsenal/images/Arsenal_10.jpg)
Aerial view of the Drayton Park pedestrian bridge to the new stadium
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Salem6
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| | Re: Arsenal confirms funding for Stadium project
« Reply #3 on Feb 23, 2004, 5:36pm » | |
By Ian Grant
Arsene Wenger said this day is one of the most important in Arsenal’s history.
Reason: Ashburton Properties has obtained a £260million loan facility from a stadium facilities banking group comprising The Royal Bank of Scotland PLC, Espirito Santo Investment, The Bank of Ireland, Allied Irish Banks PLC, CIT Group Structured Finance (UK) Limited and HSH Nordbank AG.
ANR understands that RBOS and Espirito will also provide a standby facility of up to £15.4 million to cover unforeseen contingencies.
Director Danny Fiszman said: "We believe we have now effectively concluded the pre-construction phase of the project and secured the stadium for Arsenal. This is a very considerable achievement given the complexity of the project across an enormous range of issues. A lot of people have worked very hard to bring us this far but I would particularly like to thank Islington Council, who have worked alongside us from the outset, the London Development Agency and the Mayor for all their support.
"We now look forward to working with our banking group and chosen constructor, McAlpine, as we move into the construction phase of the project."
Arsene Wenger, who said he hoped he was still in charge of the team when they move into the new stadium, said: "It has been a big target of mine to participate in pushing the club forward and relocating to a new stadium is a necessity as it will enable us to become of one the biggest clubs in the world. Also, I love the fact that the new site is so close to Highbury, it's where our heart is." The Ashburton Grove site covers 372,000 square metres and the project will be one of the biggest regeneration plans in the capital.
The stadium will be built by Sir Robert McAlpine under a £220m fixed price contract, which also includes the construction of a new waste and recycling centre.
Total stadium costs, all in are estimated to be £357 million pounds. Arsenal said it will open for the start of the 2006/2007 season. The club reported a net debt of £45.8m, last September.
Arsenal chairman Peter Hill-Wood said the financing of the Arsenal group was "now complex" and it had two separate objectives - to fund the stadium and continue investment in Arsenal's squad.
He said that £285 million pounds was the most he expected Arsenal to be in debt, which would occur just before they opened the new stadium, and he did not expect that level of debt to affect Wenger's purchasing power.
Arsenal is contributing the balance of the costs through funds from shareholder Granada, Nike and the sale of surplus land attached to the stadium site in north London.
Arsenal also have permission to build a residential development on the Highbury site. However, ANR understands clearance is still being sought from the Office of the Deputy Prime Minister over objections to the Compulsory Purchase Orders on buildings associated with the Ashburton Grove site. Objectors had asked for an extension to the deadline for responses, which ran out at the end of last week.
http://www.anr.uk.com/articles/i-2004-02-23-13-35-10.html
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Salem6
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| | Past and present players' views on the move
« Reply #4 on Feb 23, 2004, 5:38pm » | |
Press Association
Monday February 23, 2004
Patrick Vieira: "Moving to a new stadium is obviously a big change for the club, after calling Highbury home for so long. I believe that moving from Highbury is the right decision in order to progress. The new stadium will be impressive and will definitely be the envy of clubs, not only in England, but across the world. It's great that the funding has been confirmed and the club can now look forward to moving to the new stadium in August 2006."
Thierry Henry: "Obviously I will regret the team leaving Highbury. Although I have not played here as long as some of my team-mates, it has a special atmosphere for me. But if you want to move forward and be a bigger team in Europe, you need this kind of great stadium. And for the fans it will be lovely. A lot of my friends and a lot of people in London can't get tickets for Highbury, so it's great that many more supporters will be able to go to matches in the new stadium."
Dennis Bergkamp: "I've enjoyed every minute that I've played at Highbury, it's a special place. But I think everyone knows that this great old stadium isn't sufficient for a club of Arsenal's ambitions. Certainly most games we play could be watched by thousands more who can't get tickets. Moving just down the road to a 60,000-capacity stadium seems the ideal solution to me. I don't know if I'll get to play there which is a shame, but the club deserves it."
Martin Keown: "We're a very proud old club with a wonderful heritage and a unique, special old stadium but we're now in the position where I think staying at Highbury is detrimental to the club's future progress. It's fantastic that the funding for the project is now in place and means that everyone can now fully focus on actually building the stadium. I've learned the 'Arsenal way' of doing things during more than 20 years with the club, and I'm confident that the new stadium will be built with traditional Arsenal values of respect and integrity at heart."
Liam Brady: "To take the club forward, the new stadium is absolutely necessary. Highbury is a part of my life but that is countered by the realisation that if you want to be up there with the big clubs in Europe, you need a bigger stadium. There are a lot of Arsenal fans out there who don't get the chance to watch the team at the moment. I think a new stadium would be a huge success, although it will be a wrench to leave Highbury. It's important to stay in Islington, so we are not moving home, we are just moving house."
Frank McLintock: "It's heartbreaking to hear about Arsenal vacating Highbury but it is absolutely necessary. The feelings I have for the club and the memories of those great days and nights, the atmosphere generated by our passionate supporters, the glory of winning the Inter Cities Fairs Cup in 1969 and then the 'double'. It was absolutely unbelievable. But if we are to keep up with the rest of the big clubs and remain a leading club in world football then we have to move."
· You've read the piece, now have your say. Email your comments to football.editor@guardianunlimited.co.uk.
http://football.guardian.co.uk/comment/story/0,9753,1154233,00.html
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Salem6
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| | 10 facts about the new stadium
« Reply #5 on Feb 23, 2004, 5:41pm » | |
By This is London
23 February 2004
Arsenal's new stadium at Ashburton Grove should be opened for the start of the 2006-07 season, with the club having today announced they had secured funding for the entire project.
But here are 10 things that you may not have known about Arsenal's new stadium plans:
:: The new stadium is designed by HOK Sport, who are the architects of Stadium Australia in Sydney, the English National Stadium at Wembley, Royal Ascot Racecourse and Wimbledon Centre Court.
:: The site is 27 acres in size. This compares to the 100-acre Old Trafford site and the 130-acre Wembley site but, with 70 per cent of fans expected to arrive by public transport, there is not such a need for huge car parks.
:: The project is set to cost £357 million. This will be raised with £260million of loans from a group of banks, as well as a total of £97million from media partner Granada, a lucrative long-term agreement with Nike, the sale of surplus land at the new stadium site and residential development of Highbury.
:: Highbury will be converted into residential flats, with the pitch functioning as their communal garden in the middle. Some of this will be 'affordable housing'.
:: Arsenal say that the new scheme will create more than 1,900 jobs and 2,300 new homes.
:: The stadium will be built by Sir Robert McAlpine under a £220million fixed price contract, which includes construction of a £60million waste and recycling centre.
:: With the increased capacity, 1,140,000 supporters should attend Premiership matches there in one season, compared with the current average of 722,795 - an increase of 417,205.
:: There will be 150 executive boxes in the new stadium, compared to 48 boxes at Highbury. There will also be 215 seats for the media, as well as 41 TV camera positions.
:: The height of the new stadium will be 46 metres from ground level to its highest point, while the roof will be 30 metres from ground level.
:: Six other single-day events can be held at the stadium each year, with a maximum of three music concerts, and with none on Sundays or Public Holidays.
http://www.thisislondon.co.uk/sport/football/articles/9295638
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Salem6
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| | Arsenal prepare to take £357m stadium gamble
« Reply #6 on Feb 24, 2004, 11:31am » | |
By Jason Burt
24 February 2004
http://sport.independent.co.uk/football/arsenal/story.jsp?story=494511
"Today is an historic day in the life of Arsenal Football Club," the
chairman, Peter Hill-Wood, said with understandable exuberance yesterday as
he announced that a consortium of banks had finally been persuaded to lend
the astonishing £260m needed to complete the new 60,000-seat stadium at
Ashburton Grove. But it was another comment from the urbane Hill-Wood that
stuck in the mind: "The gamble we are taking is that Arsène [Wenger] will
continue to work the miracles he has been for six or seven years."
Despite the convincing and constant protestations from the Arsenal
directors, the £357m project is indeed a risk. The club is taking on more
debt £285m at its height than any other has done before. It is managing
one of the country's biggest urban regeneration schemes in London, the
hardest place to build and it is doing it all at a time when football's
finances are under considerable scrutiny.
It has taken four and a half years to "bring the dream to reality",
according to the director Danny Fiszman, with 3,000 legal documents signed
and, incredibly, the money agreed despite Arsenal not having what is termed
"vacant possession". That is unprecedented. The final compulsory purchase
order, the club said, will be completed next month. "I can assure you that
everyone I have spoken to has said it's the most complicated scheme they
have been involved in," Hill-Wood said.
An agreement has been signed with Sir Robert McAlpine at a "£220m fixed
price" to build the stadium and a new waste recycling centre. That cost,
Arsenal insist, cannot now rise. "It's just about construction now," Fiszman
said. Furthermore, 2,000 jobs will be created and 2,000 new homes built
all part of the stipulations put on the club by the local authorities.
The existing Highbury will be converted into housing the East Stand is
listed and renamed Highbury Square. The name of the new stadium is also
under discussion. It will not be known as Ashburton Grove and may be renamed
New Highbury. Arsenal are also "open" to the idea of selling naming rights,
as Bolton did with the Reebok Stadium, if the price is right.
Arsenal insist the repayments of the loans set over 14 years are not
linked to the club's continued success in the Champions' League. Or on the
field at all although that is hard to believe. They are confident that
with 34,000 people on the waiting lists for season tickets, it will fill
easily and have committed to making 10,000 tickets available to local
residents. Eighty per cent of the fans will be expected to arrive by public
transport and six "non-football" events a year will be allowed.
"The risk of filling the stadium is being taken by the banks," the managing
director, Keith Edelman, insisted. The club have also created a company,
Ashburton Holdings Limited, which "owns the stadium". If things go wrong,
they claim, Arsenal FC will be ring-fenced. Edelman added: "It's improper
for football clubs to take the debt to run their businesses. We are taking
the debt to build a new fixed asset, highly revenue-generative, and if you
are taking a debt to do that then it's perfectly OK." It would be wrong, he
said, to use the money to buy players or pay wages, as others have done.
Arsenal also revealed they had received approaches from companies to build a
stadium for them but insisted the long-term future of the club will be
healthier if they are in control. And they do not need to share, they claim.
Edelman said there would be "more than enough" money to pay off the loans.
The rest of the costs will come from Nike, Granada and the sale of land.
Edelman said that Wenger would be handed a substantially improved transfer
fund, admitting that the manager had been limited in what he could do over
the past five years. Now they insist he can assemble a dream team. That is,
of course, contingent on Ashburton Grove still not turning into a nightmare.
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Salem6
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| | Wenger toasts Arsenal gamble on moveto new stadium
« Reply #7 on Feb 24, 2004, 11:35am » | |
By Mihir Bose
http://sport.telegraph.co.uk/sport/main.....4/ixfooty.ht ml
Arsenal announce that they had finally secured the money to build their new
£357 million, 60,000-seat stadium at Ashburton Grove.
In a message addressed as much to the outside world as the doubters within
who did not think the money would be secured, the Premiership leaders made
the announcement not at Highbury, but at their training ground at London
Colney. Arsene Wenger applauded and champagne and canapes, caviar and deep
fried prawns, were much in evidence.
Wenger said: "The project meant taking on a risk and gamble but it shows
that we move on, get better and compete with the best. We never give up and
we never accept defeat and fight to compete with the best."
To do that Arsenal have taken on a huge debt. Over the next two years they
will be borrowing a total of £385 million.
In a complex deal which involved some 3,000 legal documents, £260 million of
this debt, called senior debt, is owed to a consortium of banks led by the
Royal Bank of Scotland and will provide the bulk of the £357 million needed
for the stadium, the rest coming from Granada, Nike and sale of surplus land
assets relating to the stadium site.
However, constructing the new stadium - which should be ready for the 2006/7
season - also means regeneration of a 60-acre site and in order to do the
deal Arsenal have had to become a property company, while still running a
football club. This has led to more borrowing, called junior debt, some from
the Royal Bank, and some from their existing bankers, Barclays. All this
totals £385 million. Two months before the new stadium is due to open in
August 2006 Arsenal will owe the various bankers £285 million, more than
three times the present debt of £90 million.
But Arsenal feel this is necessary if they are to compete with Manchester
United despite the fact that even their new stadium will have 7,000 seats
fewer than Old Trafford at present.
Danny Fiszman, Arsenal's biggest shareholder, and the board director who has
driven this project said: "We are playing catch up with Manchester United,
but I do not think we have had the successful team in the past that we have
today that would have created the waiting list for tickets. We are very
dependent on success. When I came on the board in 1991 we were not selling
out. Then we could not have considered a move."
Fiszman admitted that there were moments in the last year when there were
grave doubts if Ashburton Grove would happen. "It has been a roller coaster
ride but we always had faith in the project. Last April [when work on the
site was stopped as Arsenal searched for money] was not a good day."
Arsenal's search for money was not helped by the fact that Wembley was also
searching for money and Peter Hill-Wood, the chairman, said: "Wembley
complicated matters, it made it more difficult for us."
One of the complicating factors was that the banks who lent money to finance
Wembley have not been able to pass on the debt to other bankers. Keith
Edelman, the managing director, said: "There are still underwriters holding
more of the Wembley debt than they would choose to hold. It made it much
more difficult."
Sharing Wembley was an option favoured by some at Highbury, most notably
David Dein, the Arsenal vice-chairman, who was not at yesterday's
celebrations, and Edelman said: "At one juncture sharing with Wembley might
have been possible. We evaluated Wembley. But it was a far less attractive
proposition financially than Ashburton Grove and that drove us way from
Wembley. If Ashburton Grove did not happen it would have been better to stay
at Highbury and put the prices up."
Arsenal are promising that some ticket prices at Ashburton Grove will be
cheaper, with 10,000 of the extra 20,000 new seats reserved for residents of
Islington.
Arsenal have ruled out sharing their new stadium with anyone else and
Hill-Wood has no doubts that their project will be the last on such a scale.
"It is the last big project in football, I doubt if we shall see another
project like this."
So where does this leave their great rivals Tottenham, who are looking for a
new stadium? Edelman said: "I think you'd better put that question to
Tottenham."
The Arsenal board maintain that, despite the debt, Wenger will have money to
buy players and Edelman said: "It was Arsene Wenger who was egging us on to
go for the new stadium. He is an ambitious man and we have taken some risk
to get where we are."
However new players cannot expect fantastic salaries and Hill-Wood warned:
"You will find salaries of players will not increase."
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Salem6
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| | PA: COLE HAILS NEW STADIUM PLANS
« Reply #8 on Feb 24, 2004, 11:47am » | |
By Neil Silver, PA Sport
http://www.sportinglife.com/football/new....senal_Cole.html
England defender Ashley Cole led a chorus of player approval after Arsenal
announced the official go-ahead for their ambitious new stadium at Ashburton
Grove.
Left-back Cole hailed the announcement as an "exciting new chapter in the
club's long and proud history" and said the players were determined to
ensure Arsenal were still at the top of English football when they move to
their new home in 2006.
"With a new 60,000-capacity stadium in the pipeline, it's a pretty exciting
time to be at Arsenal," said Cole, who misses the Champions League clash at
Celta Vigo.
"Obviously the players have got to make sure we are still right at the top
by the time it comes to make the move, but the new stadium should ensure
that we can compete with the very biggest clubs in Europe.
"Highbury is special to the fans of course, but also to the players. I will
certainly never forget the first time I played there. We will all be sad to
see it go but moving to a new stadium will be an exciting new chapter in the
club's long and proud history."
Swedish team-mate Fredrik Ljungberg is convinced the Gunners can fill their
new stadium every time and said: "I think it will be good for the club to
move.
"We are a big club, I think close to being one of the biggest, but if you
look at most of Europe's other top sides, the capacity of their stadiums is
in a different league to ours and I am sure Arsenal have enough fans to fill
a much bigger stadium for most matches."
Midfielder Ray Parlour agreed: "Arsenal needs to move, I know there are
massive queues for season tickets at Highbury and we would regularly be able
to fill a 60,000 stadium.
"The new stadium will definitely make the club bigger and stronger. We
couldn't move outside Islington, people have mentioned other areas, but
Arsenal just can't do that, it's a north London club.
"The new stadium is only down the road, still in Islington, which is
perfect. Now the funding is in place, it takes us another step closer. It's
still a couple of years away, but I just hope I get a chance to play there!"
Arsenal managing director Keith Edelman admitted they would consider going
down the same route as clubs such as Bolton, Middlesbrough and Southampton
by teaming up with a sponsor when it comes to naming their new stadium.
"We are open-minded at present," said Edelman. "We shall review the
situation and if we get an entity who makes us a very attractive offer, it
is something we shall consider seriously.
"We shall review the market and I am sure there will be a lot of people
trying to talk to us about all kinds of sponsorship and we are open to those
discussions.
"At the end of the day, we shall have to weigh up in our minds the extra
money vis-a-vis losing the name of the stadium, and I think that is a
balance we shall have to make a judgement of at that juncture."
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Salem6
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| | Standard: Wenger key to Ashburton
« Reply #9 on Feb 24, 2004, 11:49am » | |
By Michael Hart, Evening Standard
24 February 2004
http://www.thisislondon.co.uk/sport/football/articles/9305025
The full extent of Arsene Wenger's role in the Ashburton Grove development
emerged today as Highbury insiders acclaimed the Frenchman's influence in
persuading the board to undertake one of the biggest financial gambles in
football history.
The consistent success of the Arsenal team during Wenger's seven years in
charge, and the likelihood of further trophies on a regular basis, were
critical factors in the club's decision-making process.
'Without the success he has brought to the club it's unlikely that we would
have gone ahead with such a large scale development in football's current
financial climate,' said Arsenal chairman Peter Hill-Wood today. 'The gamble
we're taking is that Arsene continues to work the miracle of the last seven
years.'
Now within sight of a third domestic 'double', Wenger is already secure in
Highbury folklore. The extra finance generated by a 60,000-capacity stadium
- gate receipts should be worth in excess of £3million per match - could
bring the kind of sustained success that will earn the French coach a place
among the all-time greats of European football.
But Wenger, who will soon begin negotiating a contract extension that will
take him beyond the 2006 opening date for the new stadium, knows he will
remain in the foothills of Europe until he wins the Champions League.
Europe's most prestigious prize has eluded him so far but a gloriously
consistent domestic season suggests that his Arsenal team, seven points
clear at the top of the Premiership, are now better equipped than before to
challenge for the Champions League crown.
You would not have said that in October when Arsenal's progress was in
serious jeopardy after taking just one point from their first three matches.
But they bounced back with three consecutive wins - including that epic 5-1
victory in Milan - and on current form are the most likely of England's
three contestants to reach the quarter-finals.
Tonight, just 24 hours after the club confirmed the financial details of the
Ashburton Grove project, Arsenal face Celta Vigo, just one point above the
relegation zone in Spain, in the first leg of the first knockout round.
Wenger's success in the FA Cup in the last six years suggests that his team
have what is required to succeed in knockout football, though apart from the
UEFA Cup of 2000 and the Champions League quarter-finals of 2001, when they
were beaten by Valencia, Arsenal have had little recent experience of
European football over two legs.
'Tactically, Cup football over two legs is a different challenge,' said the
Arsenal manager. 'We need to be more adventurous away and more secure at
home and it would be a real bonus if we could score an away goal tonight.'
That would be an achievement in itself because Arsenal's expeditions to this
part of the world have been largely futile. In Wenger's time in charge they
have played six ties in Spain, losing five and drawing one.
'We've been caught out once or twice by teams like La Coruna, Valencia and
Real Mallorca,' said Wenger. 'The challenge for us is to start putting the
record straight tonight.'
Celta have more pressing concerns than the Champions League, though coach
Raddy Antic, a contender for the Spurs job, knows that a win against Arsenal
would significantly boost his profile in the UK.
The Serbian coach, who played under David Pleat at Luton, steered Barcelona
to the Champions League quarter-finals last season. 'It's going to be a
difficult night for us,' he said. 'Arsenal will be favourites. They have a
good squad, a good manager and Thierry Henry.'
Celta's main threat comes from the former Aston Villa striker Savo
Milosovic, who scored three goals against Arsenal during his three years
with Villa. 'If I didn't think we could win I'd pack my bags and return to
Belgrade,' he said.
Another familiar name, Silvinho, is likely to have a busier night than
Milosovic as he tries to keep track of Henry and Jose Reyes. The former
Arsenal left-back knows enough about Wenger's strategies to have warned his
team-mates about the pace of the counter attacks they will face tonight in
the 31,000-capacity Estadio de Balaidos.
'We've had a good few days and for that reason we need to ensure a high
level of concentration tonight,' said Wenger. 'We cannot afford to lose our
focus.
'We've shown great determination, after the start we made, to get this far
in the tournament and it would be a pity to throw it away now.'
The club have already stressed that Champions League involvement is not
essential to service their debt of £285m over 14 years but Wenger is not
about to take his foot off the pedal.
He's building a dynasty to leave for his successor. 'I'm delighted for
future Arsenal managers who in 15 or 20 years will have the benefit of a
wonderful stadium,' he smiled. 'But I'll be around for a while yet. The best
way to stay in this job is to win the next game.'
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Salem6
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| | Arsenal take a name cheque
« Reply #10 on Feb 24, 2004, 11:50am » | |
By Steve Stammers and Raoul Simons, Evening Standard
24 February 2004
http://www.thisislondon.co.uk/sport/foot....ning%20Standard
Arsenal will listen to offers for naming rights to their new £357million
stadium.
The Gunners, who play Celta Vigo in the Champions League tonight, could
expect to earn up to £20m over 10 years by any agreement to rename Ashburton
Grove.
Leicester, Bolton and Southampton already have ground sponsors, but the
prestige of Arsenal as a club and the prime London location could see
Highbury directors demand a deal which approaches lucrative American
standards.
Arsenal chairman Peter Hill-Wood stressed that the image of the sponsors
will be as important as the cash.
He said: 'We will not allow the name to be used unless it is right for the
club. There are some things on which you cannot put a price. If a sponsor we
found acceptable offered less than one we found unacceptable then we would
take the acceptable one. We won't let the name of the club stadium be used
by someone we did not feel comfortable with.'
That would appear to rule out any fast food outlets selling burgers or
pizzas, for instance. Former managing director Ken Friar said: 'Image is
very important to us and now that the funding is in place for Ashburton
Grove, we can start looking at the options open to us. But is has to be
right for Arsenal.'
There are three Premiership clubs whose names include those of sponsors -
the Cellnet Riverside Stadium at Middlesbrough, the Reebok Stadium at Bolton
and The Friends Provident St Mary's Stadium at Southampton.
It is not uncommon for major US companies to pay as much as £5m per season
for naming rights.
Reliant Energy pay £5.3m for Houston Texans' Reliant Stadium while Federal
Express deliver Washington Redskins' around £4m for Fed Ex Stadium.
In Europe, the figures are less impressive, although Bayern Munich broke new
ground with a 10-year £18m deal for their Allianz Arena. The most
significant UK partnership so far is Leicester's £1.5m 10-year deal with
Walkers.
Stephen Pearson, a former commercial director of the Football Association
whose Sportacus company specialises in naming rights, said: 'Some chairmen
look at America and think they are sitting on a pot of gold, but the UK
market is far less mature.
'When a stadium is built in America, there is often a bidding war among
companies for the naming rights. This is yet to happen in the UK and many
clubs have so far undersold themselves.
'For a club the size of Arsenal, they could realistically expect £15-20
million for a 10-year deal. Five years ago, figures of £30-40 million were
being suggested but I don't think that's now achieveable.'
There is also a risk element to stadium sponsorship. Three years ago,
baseball's Houston Astros signed a $100m, 30-year deal with Enron. The
energy giant then collapsed leaving the club out of pocket.
Arsenal, who lead the Premiership by seven points, are also hopeful of
securing the future of manager Arsene Wenger. The Frenchman's contract
expires next year in 2005, which will complete nine years at Highbury for
the 54-year-old who has revolutionised the club since he assumed command
from Bruce Rioch in 1996.
He has won two Premiership and FA Cup doubles - in 1998 and 2002 - and has
attracted some of the most gifted players in the world at bargain prices.
The club have promised that transfer funds will still be available during
stadium building and especially when there is increased income from the
60,000 all-seater ground.
Hill-Wood said: 'We want to keep Arsene here. He has done a fantastic job.'
Wenger said: 'I'm prepared to be committed to the club at least until we go
into the new stadium. For me, it's important that the club goes in there and
that I make sure the team are at a very good level.
'After that, whether it's me or someone else, the club will be able to
compete at the highest level. But for me to run away now would not be fair.'
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Salem6
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| | Edelman - New stadium will boost transfer fund
« Reply #11 on Feb 25, 2004, 10:03am » | |
By Richard Clarke
![[image]](http://www.arsenal.com/images/PreviousSite/root/e/edelman01092004.jpg)
Managing Director Keith Edelman
Arsenal managing director Keith Edelman has explained why moving to a new stadium will actually increase Arsène Wenger's transfer kitty.
To the layman, taking on £260 million worth of loans to fund a new home seems bound to affect the manager's spending power. But it is not quite that simple.
"Arsène has done an outstanding job and especially as he's done it by spending a lot less money than other managers," the managing director told Arsenal.com.
"That's because at Highbury, we didn't generate significant revenue for him to spend more money. The big advantage of the new stadium is that we will have a bigger budget.
"There are some revenue sources before 2006 which will enable us to spend more money on the transfer budget - receipts of land sales and some money from Granada Media.
"We can invest that money in the purchase of new players then the extra revenue from the new stadium can not only repay the debt but also give increased revenues to the Club.
"We do spend a lot of money already on a high wage bill but we've never had the big transfers of some other clubs before. Now we will have both of those together."
The first indication of this change came last month when Arsenal signed José Antonio Reyes in a deal that, depending on certain criteria being fulfilled, will be a club record.
"We weren't generating much cash to invest in new players before. The money for Reyes has actually come out of the financing structure that we put in place to take us from here to the new stadium opening."
That event is planned for the start of the 2006-07 season and, soon after its inauguration, Mr Edelman believes Arsenal will be able to match their great domestic rivals over the past few years.
"We will be in a very similar situation to Manchester United in a few years' time," he said. "That's very encouraging.
"We did take a calculated gamble in going as far as we had to go," he went on. "There was debt on the balance sheet at the end of last year. But we had to spend money to get where we are today.
"Although the debt now rises quite substantially over the next couple of years, I think we're in much calmer waters now."
http://www.arsenal.com/thestadium/story12.html
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Salem6
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| | Biggest home win for Arsenal
« Reply #12 on Feb 25, 2004, 10:07am » | |
By Steve Stammers
23 February 2004
When the question of a new stadium for Arsenal arose, Danny Fiszman was in no doubt about the answer. It had to be in Islington and now his wish will be granted.
There were other options - a share of the re-vamped Wembley, a site at King's Cross and a location off the M25 which would have avoided all the controversy and expense that the club have faced. But Fiszman and his board were insistent: Highbury is the spiritual home of the club and the new ground had to be built in the area.
That was four-and-a-half years - and several hundred problems - ago. The finance, finally, is in place. Planning permission has been granted. The go-ahead to complete the £357million 60,000-capacity stadium has been given and Ashburton Grove will the home.
"It will be world class," said Fiszman. "How will I celebrate? I will take a sleeping pill and go to bed! For the last four-and-a-half years I have had what I call my five-to-nine job - that's 5am to 9pm!
"Nothing has been straightforward about this project. We knew it would be difficult but problems came out of the ground, so to speak, which no one could have anticipated.
"These include meeting the requests to regenerate virtually all of Islington rather than just build a stadium. There have been issues all the way. Every time the complications come in, they just added to the costs. We've had to work hard to make sure the project is a financial success."
Though the decision about the site, just half a mile from the current ground, was eventually a unanimous one by the board, the "we" has largely been Fiszman, former managing director Ken Friar and his successor Keith Edelman.
They have worked hard to ensure the project proceeded and Friar said: "We've spent 18 hours a day on this, sometimes longer. It is an immense relief that it can now go ahead."
Fiszman said: "Yes, we've had wobbles. There were three or four really tough moments when it looked like it wasn't going to happen and we had to work really hard to rescue it."
Asked what was the biggest obstacle the project faced, Friar replied: "There wasn't just one. Planning was the first to be overcome and site assembly was an enormous task.
"You are trying to pick up businesses and properties and you are affecting people's lives. It has been a big, big task. But we have done it."
Fiszman and Friar drew encouragement from the reception given to their business plan for the stadium.
Friar said: "The major banks all did their own due diligence on the plan and they all approved it. That gave myself and Danny a great deal of comfort."
Fiszman admitted the financial side of the stadium "has taken a little longer than expected," as the club sought loans and finally reached agreement with seven banks. "But it is a complicated project," he said.
To which Friar added: "We've been told by all the professional lawyers that it is the most complex financial deal that any of them have ever been involved in."
The repayment on loans totalling around £250m will be high but Fiszman is convinced the club will have no problems making the commitment and that Arsene Wenger's budget will not be damaged.
He said: "The new stadium will produce a substantial amount of extra cash flow which allows the debt to be repaid quite comfortable. It gives increased cash flow to the club."
Friar added: "The business plan we have allows for us to have additional income from banqueting and conferences, things of that nature."
But what if the cycle of football success turns against Arsenal? Do the plans depend on the team continuing to challenge for honours?
"As much as any other club," said Fiszman. "We want the team to be successful but we can manage if the team are not successful.
"We would have more problems if we stayed at Highbury. You have to look at the reality of what, say, 10th place in the Premiership would have done to us at Highbury as opposed to the new stadium. We are now more protected."
Friar added: "We wouldn't be doing this unless we felt confident it would work. We are not putting the ranch on this one, as they say.
"And at the new stadium, we will be able to give the manager greater funds than he has now."
The pair also insisted that the whole of Islington would benefit from the scheme. "There will be more than 2,000 new homes, health centres, improved transport infrastructure and new roads," said Friar.
Fiszman added: "We are regenerating the centre of Islington and places that have been empty and dormant for 20 years. There is a new £60m recycling centre and there is no way under normal conditions that the council could afford to do that."
There has been opposition and among the more damaging allegations is that Fiszman and his team were involved in a dirty tricks campaign to cajole businesses to sell - playing one off against the other, saying one has agreed to sell to force the hand of another.
"That is just not true," said Friar. "It is true that we had agreed with some businesses and that deals had been done earlier. But not what was said.
"We secured Lough Road, we secured the stadium site and we secured the bridge part of the project without the benefit of Compulsory Purchase Orders," said Fiszman. "Of course we did deals, of course we spoke to others when deals had been done. But only when they had been.
"Nobody in this team who has been working on the project has bullied, bluffed or pushed people into doing something they did not want to do." There have been frustrations but Friar stressed: "We've had bad days but neither of us got to the stage where we said 'Let's pack it in'."
Fiszman then revealed that the club had set themselves "unrealistic deadlines".
He explained: "They were impossible to keep to but it ensured that we got more done in that time than if we had set later ones. This project has required huge commitment and tenacity.
"It has required patience from a huge number of people. Relationships have been hurt and it has required massive dedication. It has put a huge strain on home life and people around it have been joking that I should sort out wholesale lawyers to handle the divorces!"
Friar insisted that fans will not have to pay exorbitant prices at the new ground.
He said: "Our business plan shows that prices will be kept at a level that people can afford. It's our aim to make football affordable for all. We have to keep youngsters coming in because the youngster of today is the season-ticket holder of tomorrow.
"There are no plans to have debentures or bonds. No more than 10 per cent will be corporate. The new stadium is not about the champagne and lobster set."
"We are not looking at price increases in the new stadium to make it pay," said Fiszman.
And the future? Internationals are out because of the Wembley re-vamp but Friar said: "The Olympics might be a possibility if London is given the Games."
http://www.thisislondon.co.uk/sport/football/articles/9297563
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Salem6
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| | GUNNERS PLAN FOR NAMING RIGHTS
« Reply #13 on Feb 25, 2004, 10:54am » | |
Arsenal aim to match Manchester United in financial terms by 2007 and are open to offers for the name of their new stadium.
The Londoners could raise up to £30million or even £40million over 20 years if they sell the naming rights to their new 60,000-seat stadium at Ashburton Grove.
Fans will still be consulted over the idea if a reputable company makes a high offer, but the choice appears clear enough.
Managing director Keith Edelman revealed: "We would have to ask the fans - would you prefer a name that we would give the ground or would you prefer a better team?
"I think most fans would say a better team, because obviously if we get a few million a year then that would help us invest more in the squad.
"It all depends on the level of sponsorship someone comes up and offers us. If it's a very small amount then we might say no. If it was a very large amount of money we might say yes."
In the United States, American Football teams can raise up to £5million a season in deals, such as Federal Express's tie-up with the Washington Redskins.
Although Bayern Munich received an #18million deal over 10 years for their Allianz Arena, the figures have so far been much smaller in the UK for clubs like Leicester, Southampton, Bolton and Middlesbrough.
Arsenal should be able to generate far more interest from potential commercial partners, although they are conscious not to harm their brand image in a tie-up with the wrong sort of product or company.
Chairman Peter Hill-Wood told the Evening Standard: "We will not allow the name to be used unless it is right for the club. There are some things on which you cannot put a price."
The ability to raise significant funds through the naming rights is nevertheless just one way in which Arsenal believe their £357million stadium will enable them to catch up United financially.
They have been at a disadvantage for some time, with the 38,000 capacity of Highbury restricting their clout in the transfer market.
While they will have to pay off a £260million loan, the extra match-day revenue from 22,000 extra supporters should be self-supporting.
Edelman nevertheless insists: "The big advantage of the new stadium is that we will have a bigger budget.
"We do spend a lot of money already on a high wage bill but we've never had the big transfers of some other clubs before. Now we will have both of those together.
"I think Chelsea are a different situation now. But we will be in a very similar situation to Manchester United by about 2007.
"By then, we will have put in place the sale of Highbury and secondly we will probably re-finance this loan on to perhaps a 25-year basis, which would reduce the annual capital payments."
Arsenal have to decide whether to sell Highbury, which will be turned into flats, to a development company or to carry out the work themselves.
But Edelman is confident that the club will be able to spend significant sums in the transfer market even before 2007 - as the recent signing of Jose Reyes has already suggested.
"Arsene Wenger has done an outstanding job, and especially so because he's done it by spending a lot less money than other managers," he added.
"That's because at Highbury we didn't generate sufficient revenue for him to spend more money.
"But the money for Reyes actually came out of the financing structure put in place to take us from here to the new stadium."
The key factor nevertheless remains keeping Wenger at the club to mastermind the whole process.
"I believe, like Arsene believes, that he will be the person who leads the team out at the new stadium," said Edelman.
http://www.4thegame.com/club/afc/news/148812/
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Salem6
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| | Grove still faces challenges
« Reply #14 on Feb 25, 2004, 12:10pm » | |
By Ross Lydall, Evening Standard
24 February 2004
http://www.thisislondon.co.uk/sport/football/articles/9308105
Arsenal are facing a series of legal challenges that could yet destabilise
the building of a new 60,000-seat stadium.
The club yesterday announced that financial backing had finally been secured
for the £357 million scheme to move out of Highbury to a new ground only a
few hundred yards away at Ashburton Grove.
Due to open in 2006, this would allow Arsenal to compete financially with
Manchester United.
But the Evening Standard has learned that opponents of the stadium are
lining up three different challenges to their plans.
The first relates to compulsory purchase orders (CPOs) that Islington
council is seeking on behalf of the club that would have the effect of
driving out 38 businesses from land around the new stadium.
Deputy Prime Minister John Prescott is expected to decide next month whether
to confirm the CPOs. But a High Court challenge is already being prepared in
the event that he gives the go-ahead.
Raymond Pinn, whose firm, Alliance Spring Company, has been under threat
since Arsenal's plans emerged in 1999, said: 'It's not all over yet. I can't
afford to let it go.'
He said he had been offered £545,000 to move away - but said it would cost
more than £900,000 to find a similar factory in Islington, where his firm
has been based since 1911.
Mr Pinn said Arsenal had offered to allow him to remain on site until
December 2006 if he agreed to sell up, but threatened to evict him within
days if he refused and the CPOs were granted.
The second challenge is by two Islington residents, Ted Bedford and
Elizabeth Clare, to the European Court of Human Rights.
They say the Court of Appeal was wrong to deny them the right to appeal its
2002 decision rejecting their claim that the new stadium breached their
human rights because of its impact on the environment. If they win their
case in Europe this could force a rethink by the Court of Appeal and may
result in the entire planning application being reconsidered.
The third challenge could come from the European Commission if the CPOs are
granted and Arsenal later benefits financially when the land is sold on to
developers. Campaigners say this could be regarded as a form of illegal
state aid in breach of European law.
Under the scheme, 2,200 new homes will be built and 1,800 new jobs would
also be created.
But Alison Carmichael, of the Islington Stadium Communities Alliance, said:
'The Government's independent planning inspector said he agreed totally with
us that the plans were not in the public interest.'
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