Swansea City have announced that they are closing in on taking over full control of their stadium, the Liberty Stadium, after discussions between themselves and the Swansea Council concluded on Monday.
Subject to the approval of the Cabinet at the council later this month, Swansea City will be given full operational control of their stadium.
The stadium is currently run by a tripartite agreement between the council, the Swans and the Ospreys, all of whom have representation through the mutually controlled Swansea Stadium Management Company (SSMC).
The agreement will allow the football club to have sole control of SSMC and the stadium in the future. The agreement would also allow the council to receive direct revenue from the stadium, give the Swans the ability to tap into new revenue streams at the stadium and allow the Ospreys to continue playing at the stadium on a long-term lease.
Swansea City’s Chief Operating Officer, Chris Pearlman, has said that the deal would put the Welsh side in control of their own destiny on and off the pitch.
"We’ve always looked at the big picture. Under the old agreement, Swansea City did not see any direct revenue from the Liberty Stadium's operations.
"The new agreement would allow us to be more active in exploring the likes of stadium expansion, naming rights, sponsorship, catering revenue and enhancing supporters’ matchday experiences,” he said to Swansea City's official website.
Cllr Rob Stewart, Swansea Council Leader, said that the new agreement is "beneficial to all parties" and that it provides both sports clubs with "a platform to further develop".
The new arrangement will also allow the football club to fund the construction of new 3G pitches throughout Swansea in the next few years. The Cabinet at Swansea Council will decide on the 16th of November on whether to approve the new deal or not.
Swansea will take sole control of the Liberty Stadium after agreeing a deal with the council. Swansea will pay £300,000 a year for 37 years.— Dan Thwaite (@DanThwaite) November 6, 2017
As for the Swans on the pitch, they will hope for better results after the international break after a dismal performance against Brighton on Saturday.