Well it appears that the Liberty Stadium aka Swansea Stadium Management Company (SSMC) have made a loss of £533k for the year to date http://www.thisissouthwales.co.uk/L...osses-report/story-13598449-detail/story.html
SSMC...is that the portly fella with a caeerfif twang who struggles with good customer relations and 'manages' the ticket office.
They were predicting a bigger deficit in fairness, and included in that is promotional costs for gigs they've put on. The council shouldn't be held to ransom over our use of the stadium just because we're in the Premiership... much to the chargrin of opposition councillors.
Thing is Scott us and the ospreys have a legal binding lease of the stadium, if for example you rented a property for £500 a month, would you suddenly pay £1k a month because you won the lotto ? The clubs cannot just give money away, there has got to be accountability with companies and paying more for something without changes to contracts, amounts to fraud ! Also the people replying on the post website saying that the clubs are playing for free, simply are wrong, the clubs are still paying the rent as per the contract ! And all losses by the management company are covered by the clubs, something that a majority of these posters over there have ignored, for clarity its the last but one paragraph on the article !
I know man, I'm aware of that, just saying that on TOP of all that you've posted,it's still not actually as bad as it looks!
Jager, Most other articles I've read on the subject hint that £118k is actually the projected loss figure for 10/11, and the £533k figure is cumulative of all the years since the stadiums opening. I'd be more than worried if we were playing out of a stadium that was losing half a million each year!
Bit of a mess this managment co, if you ask me! Swansea City council bit of a mess too................. please log in to view this image
Nothing to do with the clubs???.................................. please log in to view this image Glad to see your back to normal Dai!!........................ please log in to view this image
Think he is having to much fun on the Cardiff thread about this tut tut proph, as you know the clubs cover all losses so there is no losses to the tax payer.
