GFA says £2 million Government loan to be repaid within weeks

The Football Association says the funds it was advanced by the Government for the new stadium will be reimbursed "in the next few weeks".

The Chief Minister recently said in Parliament that the Government had loaned £2 million towards the stadium's construction.

The new category 4 stadium complex was first announced by the GFA in November 2022.

The Government said the project, which was said to be valued at £100 million, would be financed by the Savings bank and not by using taxpayers' money.

The GFA later updated this by saying a consortium of local commercial banks would provide the financing.

Demolition plans for the old stadium were finally approved by the DPC last December.

In response to GBC questions, the GFA says the estimated cost of the new stadium is still being finalised, and is "commercial sensitive information" which can't be disclosed yet.

It says final design plans will be completed and submitted to the Development and Planning Commission in the next few months.

The GFA says the sale of units associated with the new stadium will happen after the design is completed.

It says demolition works are set to resume in September or October, as originally planned - and that further details on the timeframe for completion will be provided once a main contractor is appointed.