Swansea City finally take full control of the Liberty Stadium
19 February 2018
Swansea City have finally taken control of the Liberty Stadium.
The club has concluded talks with Swansea Council and the Ospreys by signing a new long-term lease agreement, which means the Swans will take sole control of the Stadium Management Company, and all other stadium matters.
The Ospreys will continue to play at the Liberty under the new deal.
Majority shareholders Steve Kaplan and Jason Levien say the agreement will put the club firmly in control of its own destiny - on and off the pitch.
“This is a tremendous achievement and one the club has been working towards for many months,” said Steve Kaplan.
“This deal is a hugely important step towards the sustainability of Swansea City Football Club and certainly begins a pathway to stadium expansion, which we have always said was a key part of our plan for the club.”
Chris Pearlman, Swansea City’s chief operating officer, added: “We believe this agreement will help push the club forward by tapping into new revenue streams at the stadium.
“It will now allow us to be more active in exploring the likes of stadium expansion, naming rights, sponsorship, catering revenue and enhancing supporters’ matchday experiences.”
Included in the new arrangement is a commitment by the club to fund the construction of two new 3G pitches in Swansea every five years for community use.
Jason Levien said: “I’d like to pay tribute to Chris Pearlman and everybody at the club who have worked tirelessly in getting this deal over the line.
“This is the realisation of months of planning and work that allows the football club to take control of its destiny.
“We want to give Swansea City the greatest chance of success and the option to potentially expand and allow more people the ability to come to games is a major leap towards that goal.”
Swansea council leader Rob Stewart said: “This is great news for all concerned. For the first time the council tax payers of Swansea will see a return on the investment they made in the Liberty Stadium.
“This is a deal that benefits the Swans, Ospreys and the council.
“It provides the Swans with the freedom to commercialise the stadium, while the council tax payers who will not only receive an income, but also additional money from any stadium naming rights, plus the provision of new 3G pitches across the authority.”