York City Football Club’s hopes for a new community stadium were boosted after the Football Stadia Improvement Fund agreed to extend the terms of their £2 million loan to the club.
The Minstermen used the finance to buy back Bootham Crescent in 2004, but under the FSIF terms it the money had to be settled by September 2012. However, FSIF has now extended the deal by a further year after being impressed by stadium redevelopment plans which could be ready for the 2013/2014 season.
The FSIF stated they reconsidered the deadlines associated with the outstanding £2 million loan to York City Football Club: "In light of the commitment and significant progress being made on the community stadium. The Directors, in reaffirming the FSIF’s support to York City Football Club and the community stadium project, would be prepared to alter the current Deed of Variation, to extend the date by a further year, to 30 September 2013."
The consultation process regarding the new community stadium project has shown that 78% of people who responded are in favour of the plans. In response to the good news, York City chairman, Jason McGill said: "We are so grateful to the FSIF for their extended support."
"Without them, York City Football Club would not be here today," he added. "This further boost is justification for the extensive work which has been going on behind the scenes to deliver a community stadium for York."
Posted on 15/09/2011