MAY 00] COVENTRY CITY NEWS
Marconi In £30m Race For Arena Name
Coventry Citys new arena will be named
after a major multi-national company in a £30 million deal and one of the
frontrunners is a city firm.
A naming-package is
being negotiated to help fund the new arena in a deal similar to that negotiated by Bolton
Wanderers, whose ground is called the Reebok Stadium.
Coventry City chairman
Bryan Richardson said that a number of worldwide firms have shown an interest in signing
up to the package.
He said that it would
have to be a multi-national company because of the amount of money involved.
Marconi, who recently
announced 2,000 new jobs in a new Coventry base, have confirmed that they have held
preliminary negotiations with the club.
But a spokesperson
said that no decisions had yet been made.
THE NEW ARENA - BUT WHAT WILL IT BE
Mr Richardson said he
hoped to be able to announce who the sponsors would be within a couple of months.
He said that there are
also eight funding partnerships being negotiated, where suppliers pay to have
the exclusive rights to sell their goods in the ground.
These sorts of
deals are perfectly common. It happens all over the world.
The plans to build the
new 45,000-seater arena on the site of the disused Foleshill gasworks
are still going to
Mr Richardson said
there had been a problem with finding a new home for a family living by the final
gas-holder, but they would be moving in the summer as another site had been found.
We are still looking at August 2002 for completion.