Swansea Council have agreed to sell Swansea.com Stadium to Swansea City, with the football club saying it will safeguard their future.<\/p>\n
The Championship side have been in discussions with the council over the proposed purchase of the venue, their home since its opening in 2005.<\/p>\n
The local authority built the \u00a327m stadium, with the Swans taking operational control of the ground in 2018.<\/p>\n
Council leader Rob Stewart said the sale price would be in excess of a “fair open-market value”.<\/p>\n
A report put before cabinet said: “Following lengthy negotiations, terms and conditions have been tentatively agreed which generate a large purchase price, plus additional contingent fees in the event of promotion, as well as retained ticket and hospitality benefits.”<\/p>\n
The Swans say the purchase of the stadium will create opportunities to increase income and attract investment.<\/p>\n
Labour councillor Stewart said the owners of Swansea City – whose investors in the American-owned club include Real Madrid and Croatia star Luka Modric and hip-hop musician and businessman Snoop Dogg – wanted to get the club back into the Premier League and invest in the stadium and create a better fan experience. <\/p>\n
“It’s very difficult for them (the football club) to do that if they’re not in control of the asset,” Stewart said.<\/p>\n