Council Defers Loan Repayment

Last updated : 22 May 2005 By Bournemouth Co-Ordinator
Back in May 2001, Bournemouth Borough Council were granted a loan of £250,000 plus a grant of £250,000 to help with the finance of the new Stadium - peanuts when compared with the investment made by Swansea City Council (£30 million) and Hull City Council (£42 million) on new stadiums in their areas!

So on Wednesday, the Council debated the (so far) non repayment of the £250,000 owed by AFC Bournemouth, or find some additional community services that can be offered in lieu of payment.

Councillor Alan Fudge is quoted in the Bournemouth Evening Echo as saying: "This extension to the loan gives the club the opportunity to submit proposals for sustaining and further developing its provision of community services for the future. We feel it's important to support the club to maximise the benefits they can bring to the local community and this solution is a realistic approach to achieving a return on the loan".

Peter Phillips, for AFCB, is quoted on the Clubs Official Web Site as saying: "It is heartening that the council recognises the importance of the local football club to the local community and the opportunities for us working together to achieve even more. We share the council's vision for the development of Kings Park into a vibrant sporting and social venue for local people and will be working with them to ensure that the opportunities presented my major investment into park facilities over the next few months are maximised".