Chairman facing 'biggest challenge'
Milne confident over new stadium proposals
Stewart Milne: biggest challenge (pic: SNS Group)
Aberdeen FC chairman Stewart Milne says he is confident the club has resolved all the outstanding issues over its new stadium proposals.
Addressing the 114th AGM at Pittodrie said 60% of funding was in place for the controversial £50m development at Kingsford.
He hopes the £10m training facility will be ready for summer 2019 and £40m stadium for the start of the 2020-21 season.
The revised plans will be discussed at a pre-determination meeting with the council on 17 January. There have been numerous objections, including local opposition to the site.
Mr Milne told about 80 shareholders that the relocation was the biggest challenge the club has taken on.
There is likely to be a share issue to fund the stadium.
After the meeting he said: “We are very confident we have addressed all the issues. We have a very solid proposal to put before the council.”
He said the club has been able to demonstrate the benefits of putting the stadium and training facilities together.
Stadium plan divides opinion
Aberdeen posted increased revenue and operating profits last year with turnover up by almost £2million to a record £15.3m and operating profit of £533,000, up from £448,000.
Directors Gordon Buchan and chief executive Duncan Fraser who retired by rotation were both re-elected unanimously.
Mr Milne said Derek McInnes’ decision to remain at the club was a “huge” boost.