Milne waiting game over stadium
Situation could become clearer in February when a location should be identified, says chairman
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Aberdeen chairman Stewart Milne last night stressed Dons supporters should wait until there is a firm site for a new stadium for the club before worrying about where the funding will be found.
Debt at Pittodrie has been reduced to £6.5million following an operating profit of £2.335million for the financial year ended June 30, but the proposed new community stadium for the club remains the priority for Milne and his board of directors.
They were quizzed by those in attendance at last night’s annual meeting, with several querying where the funding for the development will come from.
Milne told the 100 shareholders at the meeting that they may be asked to help with funding should a site be identified and planning permission granted, but he also hopes government funding and local authority money will be forthcoming.
The issue should become clearer in February when the feasibility study into potential new sites in the city is completed.
He said: “The clock has been ticking for a few years now as far as Pittodrie is concerned.
“People will say we have been claiming that for a number of years but the reality is we are having to spend more and more money every year to stay here and that investment is only going to increase.
“A community stadium is more pressing than ever and the most important issue for us. Hopefully, the situation will become clearer in February.
"I am hoping there is a clear location identified by then which will allow us to get our teeth into moving the project forward in terms of the planning and funding process. It is important we don't get caught up in funding issues at the moment as it is all hypothetical."
Following the club's most successful financial performance, largely due to the run in Europe last season, Milne admitted the absence of European football this season will hit the club financially when next year's financial results are published.
He said: “The financial results have given us a platform for moving forward.
“We have said for some time the best way to do that is by investing in the longer term. We want to invest in the squad for two or three seasons at a time.
“What Jimmy Calderwood and the team achieved last season in Europe was fantastic and I think we made a real signal of intent for Scottish football in that another club made progress in Europe outwith the Old Firm.
“We had a challenging draw all the way through and it was a tremendous achievement to reach the last 32 of the Uefa Cup. (Managing director) Duncan Fraser has projected a £600,000 operating loss for next year which illustrates how fortunate we were in terms of the teams we were drawn with and the television revenue the games generated.
“Not being involved has a massive impact financially.”
The Dons chairman and his board were given a relaxed evening by those in attendance, with the meeting lasting 53 minutes. The only occasion the tension rose came when some shareholders questioned what they perceive to be criticism about them from director of football Willie Miller, manager Jimmy Calderwood and the players for expecting too much of the team.
Milne insists the feedback will be taken on board by the club.
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