Bristol City has received a boost to its proposed £92m stadium development at Ashton Vale. The football club chairman, Steve Lansdown, sold £58m of shares in Hargreaves Lansdown, the company he co-founded with the intention of partially funding the stadium project. Some of the money will go into a new ‘green’ private equity venture and Mr Lansdown declined to confirm that most of the cash would go towards funding the football club’s plans.
Bristol City has received a boost to its proposed £92m stadium development at Ashton Vale. The football club chairman, Steve Lansdown, sold £58m of shares in Hargreaves Lansdown, the company he co-founded with the intention of partially funding the stadium project. Some of the money will go into a new ‘green’ private equity venture and Mr Lansdown declined to confirm that most of the cash would go towards funding the football club’s plans.
Mr Lansdown is not expected to fund the entire bill. Bristol City is in advanced negotiations with J Sainsbury to develop the existing ground at Ashton Gate. However, the project does face planning hurdles. An independent inspector ruled that the 42-acre area met a ‘Village Green’ application. If accepted by the city council, this would permanently prohibit building on the site.