Society to be created for the management of the new stadium
Club

Society to be created for the management of the new stadium

This morning, Friday the 19th, the agreement for the management and financing model to be…

Athletic Club
Athletic Club
Jan 19, 2007

This morning, Friday the 19th, the agreement for the management and financing model to be used for the new stadium has been presented. For this purpose, a society will be created which, for now, will be made up by three genuinely Biscayan institutions: Athletic Club, Biscay’s Regional Government and Bilbao Bizkaia Kutxa.

Biscay’s General Deputy, Jose Luis Bilbao, stated at the presentation ceremony held at the Regional Government’s Palace, that ever since the need for a new stadium became apparent, a series of steps have already been taken; such as deciding its location or the city-planning involved and whose management and financing model has today been presented

He also stated that the new San Mamés Stadium area will be sharing users; Athletic Club and the UPV; which is why there will be no capital gains or fast-bucks in the area. The same model used with the Guggenheim will be applied, separating property from management. There will be no grants or financial assistance; instead, it will be a proprietary society, within which each party will own accordingly to what it contributes. Later on, the society will sign all the necessary documents with Athletic Club for the use of the field. This society is still open to the incorporation of new partners, as for example the Basque Government or City Council.

Athletic Club President, Ana Urquijo, has declared that it is an especially exciting day for her as president of the entity, but most importantly as a member and that the best possible agreement has been reached. She later thanked the previous presidents and Boards for the steps taken, as well as the Mayor and City Council, for their effort so that the new field remains in the area. She finished up by stating that the new Stadium project is not only for Athletic Club, but also for Bilbao and Biscay as a whole.

Xabier de Irala, representing BBK, on the other hand stated that for them it is an honour to take part in this society and that BBK will contribute knowledge and financial resources, as well as a study of the various existing models to see which one best adapts.

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