From the Argus
he new Falmer stadium will cost £2,267 per seat to build. It is just one of the bills the club's attention must turn to as the euphoria of Friday's yes verdict from John Prescott dies down.
The club must now focus on how to raise the £50.723 million needed to build the 22,374-seat arena.
Albion are working from estimates produced by construction consultants Currie and Brown.
Chief executive Martin Perry said: "The stadium costs have been scrutinised throughout the public inquiry process because we had to satisfy the Secretary of State it was affordable.
"Even Lewes District Council agreed with our costings and said they were affordable."
The new 90,000-capacity Wembley Stadium has cost about £3,918 per seat, the City of Manchester Stadium £3,000 and the Telstra Stadium in Sydney, Australia, £3,468. But both Sunderland's Stadium of Light and Bolton Wanderers' Reebok Stadium were built for less than £1,000-a-seat.
The stadium alone at Village Way North and coach park will cost £28.91 million, according to the plan.
Infrastructure works such as building a new pedestrian footbridge over Falmer railway line, constructing an A270 flyover and new University of Sussex link road are likely to cost about £4.364 million.
A sum of £3.327 million has been set aside for the builders' overhead costs. Professional fees to solicitors, architects, surveyors and other consultants are likely to be about £3.6 million.
The land at Village Way is jointly owned by Brighton University and Brighton and Hove City Council. While the council is donating its share, the university's portion will cost Albion £5.3 million.
Currie and Brown have budgeted for inflation of £3.332 million and set aside £1.83 million for unexpected costs which may crop up.
Mr Perry said: "We are confident the budget is entirely realistic and we should get prices inside that total when we put out to tender."
Mr Perry is now hard at work securing the funding.
The club anticipates raising £8.8 million through grants and is applying to Government funding bodies including the South East England Development Agency and New Deal for the Communities as well as the Football Foundation.
It is thought applications will benefit from the fact the stadium will be in east Brighton, near the deprived communities of Moulsecoomb and Whitehawk.
A further £5.5 million will come from commercial opportunities like selling the stadium naming rights and private investment. Already local employer American Express is being linked with the stadium name, and Hove brothel Swallows is tendering for the naming rights for the relief road.
The club predicts it will make about £12 million through the sale of assets including leasing parts of the stadium.
The remaining £24,122 million will be borrowed in the form of a mortgage at an interest rate of 6.5 per cent. The annual repayments would be £1.9 million-a-year, which would represent 20.1 per cent of the club's predicted annual turnover of £9.7 million. That is based on an average crowd at home games of 12,000.
he new Falmer stadium will cost £2,267 per seat to build. It is just one of the bills the club's attention must turn to as the euphoria of Friday's yes verdict from John Prescott dies down.
The club must now focus on how to raise the £50.723 million needed to build the 22,374-seat arena.
Albion are working from estimates produced by construction consultants Currie and Brown.
Chief executive Martin Perry said: "The stadium costs have been scrutinised throughout the public inquiry process because we had to satisfy the Secretary of State it was affordable.
"Even Lewes District Council agreed with our costings and said they were affordable."
The new 90,000-capacity Wembley Stadium has cost about £3,918 per seat, the City of Manchester Stadium £3,000 and the Telstra Stadium in Sydney, Australia, £3,468. But both Sunderland's Stadium of Light and Bolton Wanderers' Reebok Stadium were built for less than £1,000-a-seat.
The stadium alone at Village Way North and coach park will cost £28.91 million, according to the plan.
Infrastructure works such as building a new pedestrian footbridge over Falmer railway line, constructing an A270 flyover and new University of Sussex link road are likely to cost about £4.364 million.
A sum of £3.327 million has been set aside for the builders' overhead costs. Professional fees to solicitors, architects, surveyors and other consultants are likely to be about £3.6 million.
The land at Village Way is jointly owned by Brighton University and Brighton and Hove City Council. While the council is donating its share, the university's portion will cost Albion £5.3 million.
Currie and Brown have budgeted for inflation of £3.332 million and set aside £1.83 million for unexpected costs which may crop up.
Mr Perry said: "We are confident the budget is entirely realistic and we should get prices inside that total when we put out to tender."
Mr Perry is now hard at work securing the funding.
The club anticipates raising £8.8 million through grants and is applying to Government funding bodies including the South East England Development Agency and New Deal for the Communities as well as the Football Foundation.
It is thought applications will benefit from the fact the stadium will be in east Brighton, near the deprived communities of Moulsecoomb and Whitehawk.
A further £5.5 million will come from commercial opportunities like selling the stadium naming rights and private investment. Already local employer American Express is being linked with the stadium name, and Hove brothel Swallows is tendering for the naming rights for the relief road.
The club predicts it will make about £12 million through the sale of assets including leasing parts of the stadium.
The remaining £24,122 million will be borrowed in the form of a mortgage at an interest rate of 6.5 per cent. The annual repayments would be £1.9 million-a-year, which would represent 20.1 per cent of the club's predicted annual turnover of £9.7 million. That is based on an average crowd at home games of 12,000.
Can but hope
