Originally Posted by
Stupie82
Stewart Milne :
“Even more fundamental than that, roughly 50 per cent of the funds to deliver the stadium are going to come out of us selling Pittodrie. We have got consent for a residential development. The cost of redeveloping Pittodrie would be comparable with building a new stadium and we will lose £18 to £20 million of the funding.”
It would also involve extending the main stand halfway across Pittodrie Street. Milne continued: “We currently get dispensations from UEFA because our plan is to move to a new stadium. If it doesn’t happen some time soon we will reach a point where they will say ‘you've got one more year to go’. It also costs us upwards of £500,000 for essential maintenance every year. Around £500,000 is just being thrown down a hole. ”
So according to SM, redeveloping Pittodrie we would lose £18-20m of funding from the sale. We would also lose income from the reduced capacity while work is carried out, as I said I reckon £1.5m a season over what 2- 3 seasons? So that’s around £4.5m in lost revenue … best case scenario. Let’s take Hearts new stand for instance, whats that costing? £13m I think I read, so lets say for arguments sake we build 4 of them, that’s £52m. So in total, roughly around £56.5m to redevelop Pittodrie, without having the £20m from the sale of the ground…