Swansea’s Liberty Stadium Continues to Make Losses
October 20, 2011
English Premier League newcomers Swansea FC’s Liberty Stadium is continuing to make losses, leading to an estimated deficit of over half a million pounds.
The draft figures contained in a Swansea council report show a projected loss of £118,000 ($186,300) for 2010/11.
The stadium, run by Swansea Stadium Management Company (SSMC), is the home of Swansea City and the Ospreys.
The Swans and the Ospreys moved to the £27 million ($42.6m) Liberty Stadium in 2005 after the council paid most of the money to build it.
The figures will be discussed by the council on Thursday, along with facilities such as the national pool.
A report to the council cabinet said the projected loss of £118,000 ($186,300) meant the stadium now had a cumulative loss of about £533,000 ($801,507).
“Under the joint venture signed by the parties, responsibility for guaranteeing all losses rests with the clubs,” it said.