Ana Urquijo: ‘The new stadium will definitely establish our club in modernity’

‘The fundamental reasons to build the new stadium are security, comfort and economic gain’

The most important project undertaken by Athletic Club in the last decades is finally taking shape. The agreement reached by President Ana Urquijo with Biscay’s Regional Delegation and BBK assures the financing of the new San Mamés, with all the warranties, and it guarantees efficient and discreet management.

In her spirit to keep all Athletic Club members informed, Ana Urquijo responds to a series of questions in the following interview that will, without a doubt, clarify specific aspects of the project.

What did you feel at the presentation of the agreement reached with the Biscay Delegation and BBK?
I must confess that, at first, I felt proud of being able to pass on such important and decisive news for our Club; an objective finally reached after many months of work. Yet, when the Deputy General gave me the floor I was truly touched, both as a member and as President, by seeing our desired objective so close to becoming a reality. It’s been wished for by so many members and preceding Boards of Directors and Presidents; a dream that will be reality in a few years time and that will definitely establish our Club in modernity.

Do you think all members share your enthusiasm?
Members have been consulted on this subject on several occasions in the last few years, and a great majority have shown their endorsement to this initiative made by the different Boards. That is, as long as the new stadium was built in the same area as the present San Mamés; an objective that’s been achieved with the help of authorities and, specifically, the willingness of the Bilbao City Council and its mayor, Mr. Azkuna, who have redeveloped the area and in so doing have granted the Club’s wishes of keeping the stadium in the vicinity.

What are, for you, the fundamental reasons to build a new stadium?
I would summarize them as three: security, comfort and economic gain, but without discarding others, among which I would highlight the fact that Athletic will now join, with a great project for a new stadium, the city’s urban regeneration plan in line with the Guggenheim Museum or Euskalduna Congress Centre.

And for Athletic members, which do you think is the most important?
Fortunately, we Athletic Club members constitute a heterogeneous society. In all the forums that I attend, I like to emphasize that our Club is probably the only project, or one of a few, that arouses all types of sensitivities.

However, as Board of directors, we have to try to satisfy them all as best we can. We are convinced that members will know how to assess the fact that the construction of the new stadium will have zero cost to them. At the same time, there will be others who value accessibility for the disabled, while others may prioritize comfort, like fully-covered stands, suitable seating and accessible service areas. The third reason, the one about obtaining greater economic gain from the stadium, combines everyone’s will.

Could you tell us how those additional revenues will be raised?
Certainly! In the first place, with more members; the Club has a waiting list of people aspiring to someday become members and, frankly, we believe that with the new stadium these requests will grow substantially. We are talking about a minimum of 3 million euros more per season. The new San Mamés will also have company boxes and group lounges for those interested in leasing them, from which we would obtain another important amount. In addition, there’s the advertising income and that generated from rents and operation royalties obtained from concessions/food-service businesses that adjust to the stadium and others that will surely surface as the project develops.

Will members have to contribute economically?
No, not at all. In this project we’ve always considered a fundamental premise: that the construction of the new stadium will not cost current members a single euro.

Can you explain how the financial project takes shape with the San Mamés Barria society?
The idea for this design comes from an extensive study of the project from a financial standpoint. As I said earlier, we intended for current members not to have to disburse a single euro for the new stadium and for the financial tools to be bearable for Athletic, both now and in future, thus not affecting the day-to-day operations of the Institution. Basically, that the Club’s operating budget be in no way involved. Numbers, no matter how manageable they may be, are ultimately obstinate and they discard any possibility that the Club could confront the project alone, even with the best possible financing that BBK was willing to provide or with important subsidies that, in no way could defray a substantial part of the project.

In this framework, the idea was conceived to constitute a holding company, thus incorporating the Delegation and BBK to the ownership of the new ground; and with the possibility for additional incorporations which would of course be welcomed. Although we should clarify that the involvement by the three organizations signing the agreement makes the project viable as well as fail-safe.

Can you be more specific as to what each party will contribute to the new company?
At this time, we can specify the intentions that the three brought to the table; later on we’ll be detailing how it will be carried out. As of today, we’ve agreed that Athletic will contribute the land on which the present ground is built, 21,000 square meters, and a third of the construction budget; the Delegation will add another third and additional land, equivalent in meters to ours; and BBK the remaining third and the financing.

By the way, consistent with your question, I would like to clarify that the present ground is entirely owned by Athletic Club.

Will there ever be any doubts raised as to Athletic’s shareholder-equity loss from this operation?
None. At the moment, Athletic enters its ground at approximately 17 million euros, of which 660,000 euros correspond to the valuation of land purchase, and the rest to constructive structure and facilities. We are talking about it becoming co-owner of a stadium in which that equity value can be multiplied by three, maintaining ownership title for the land being contributed; and all this without considering the future income this would represent for the Club and which, partly, could be invested in consolidating a greater return on equity.

Do you expect to call an Extraordinary General Meeting to approach this matter?
During all this process, as in everything we do, we’ve tried to adapt the times as most conveniently as possible for the Club. Naturally we want to keep members perfectly informed and as soon as we have more concrete information we will use the means that the Club has at its disposal, among which is the call for an Extraordinary General Meeting. In any case, we will always comply with the Statutes of the organization.

To wrap up, could you tell us how the new stadium will be? And, when will it be completed?
As we’ve already said, we want to make a 5-star ground, a stadium that is prepared to host, for example, a UEFA or Champions League final. It will have a capacity for 55,000 spectators and all the necessary facilities that guarantee comfort. It will be a safe and accessible stadium, but above all a football ground designed solely for our sport. That is to say, it will definitely not be a multi-user stadium.

The operations, management and, of course, use of the stadium will be exclusively in the hands of Athletic Club.
For now, I cannot be more specific. We are advancing with ACXT-Idom in the design of the basic project and hope to be able to inform our members and everyone in Biscay within a couple of months, perhaps at the presentation of the scale model. Probably then, we may announce a more precise timeline for the process.

In any case, I do want to stress that it will be a fantastic and modern stadium that will perpetuate the name of San Mamés as the Cathedral of football (soccer) in the decades to come; and whose construction will be undertaken with total transparency and all the legal and statutory guarantees proper of this great Club that is our dear Athletic.