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Cabinet backs Liberty Stadium lease deal

A DEAL for Swansea City AFC to take operational control of the Liberty Stadium has been backed by Swansea Council's cabinet.

The stadium from the footbridge

It will see the Premier League club pay annual rent to the council for the first time as well as providing a share of any money from the stadium naming rights. The Swans will also commit to building 3G sports pitches in communities in Swansea.

The council-owned stadium, which was built in 2005, is currently run by a tripartite agreement between the council, the Swans and the Ospreys - all of whom have representation through the mutually controlled Swansea Stadium Management Company (SSMC).   

As part of the new agreement, the football club would have sole control of SSMC and the stadium moving forward. The agreement would also:

* Allow the council to begin receiving direct revenue from the stadium for the first time ever through guaranteed rental payments

* Give the Swans the ability to control its own destiny and stay competitive with other Premier League clubs by tapping into new revenue streams at the stadium 

* Allow the Ospreys to continue playing at the stadium on a long-term lease.

Swansea Council Deputy Leader Cllr Clive Lloyd said: "I'm delighted that the report was agreed by my fellow cabinet members today, which gives us the agreement to move forward to discussing the detail for the new lease.

"The underlying principle of us getting to this stage was that we could demonstrate best value which we are required to do by law.

"For the first time the council tax payers of Swansea will see revenue income from the stadium that they funded and built.

"This is a deal that benefits both the Swans, Ospreys and the council tax payers of Swansea who will receive a core income, additional money from any stadium naming rights and shirt sponsor deals and a commitment to develop and build two new 3G pitches every five years. This lease is good news for everyone."

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