St. Modwen Properties plc at Stoke - The Britannia Stadium Story New Stadium does not equal more Fans.

Late 1994 - proposals announced for new stadium ;

To be located on 360 acres of derelict industrial land as part of 'Stoke Regeneration'.

More than a year of PUBLIC feasibility studies, planning commitees and sorting out funding schemes before any building began - still only 66-75% approval by fans for the move.

In the 5 seasons prior to the move, the club averaged 14,100 at the Victoria Ground.

August 1997 - first game played in new stadium

Safety certificate finally granted only 5 hours before kick-off - after almost 3 years of planning and building ! There was 'organised chaos' as turnstiles and the infrastructure struggled to cope with a crowd of 15,400.

The fanzine writes …..''We did not realise it at the time, but Stoke City were in real financial difficulties. Supporters had been assured that all the funding was in place for the new stadium, and that the playing squad would not be affected by financial considerations arising from our new home''.

''This however was far from the truth, and though it took the club a long time to come clean, few supporters were allowing the wool to be pulled over their eyes''.

In the season after the move, although 24,000 attended the opening, average attendances only rose by 900 to 15,000 a match.

The Britannia Stadium today (financial details taken from the Chairman's statement)

In the 6 seasons following the move Stoke have experienced both relegation (to the 2^nd) and promotion, and their average attendance over that time is 13,400.

In their 2 seasons back in the 1^st division the attendances have averaged 14,300 - just 200 up on 10 years ago in the old stadium !

BUT …. In financial year 2002/03 Stoke announced a loss of 1.3 million, due to reduced transfer profits and increased interest charges.

This required a short term bank loan of £600,000 and an injection by major shareholders of £800,000 in the form of convertible loan stock.

The stadium ownership, currently split between the club, the council and the regeneration company (81% St. Modwen owned) is a source of contention. The chairman complains that '' management time (is) taken up liaising with our partners in the stadium development company''. He also speaks of ''arguments about the terms of the lease'' and hopes that ''common sense previals'' in allowing the club to buy the stadium.

It has become clear that, alongside £3.7 million share capitol from the development company, the club - via it's rich Icelandic owners - have contributed £9 million to the costs of the new stadium.

POSTSCRIPT - St. Modwen making huge profits - but ….

14/02/04 - St Modwen on the up - Property development company St Modwen has posted its eleventh year of record profits. The group posted a 17% hike in pre-tax profits to £35 million.


17/04/04 - ST MODWEN FACES COUNCILLOR'S ANGER

The leader of Stoke-on-Trent's Independent group has called on council officials to end their controversial partnership with a property firm involved in the sale of Royal Doulton's last remaining factory in the city. Developer St Modwen has faced criticism this week for not revealing the pottery giant's plans to close its plant in Nile Street, Burslem, despite its long-standing relationship with the city council on Stoke-on-Trent Regeneration, an organisation aimed at revitalising derelict sites in the Potteries.


Sources - The Story of the Britannia Stadium - Stoke City Fanzine Online

http://stokecity.rivals.net and www.oatcake.co.uk

Stoke City Announce Financial Loss - taken from Chairman's Statement

http://footiethreads.com/

St Modwen Profits

http://www.bbc.co.uk/stoke/news/2004/02/140204.shtml

St. Modwen Faces Councillors Anger

http://www.thisisstaffordshire.co.uk/

ATTENDANCE DETAILS - taken from www.soccer-stats.com

Stoke City Attendances
Season	Average Attendance	Stadium % Full
03-04	14,200	51	New
02-03	14,500	52	Average
01-02	14,000	50	13,400
00-01	13,700	56
99-00	11,400	48
98-99	12,700	53
97-98	15,000	62	Moved to New Ground
96-97	12,700	53
95-96	12,300	51	Old
94-95	12,900	54	Average
93-94	16,000	63	14,100
92-93	16,600	65

Research by West Swindon resident Stephen Cannons

---

Stadium Proposal Index | SwindonLink Home

---