Welsh Rugby Union
Stadium To Be Sold?
By Lestyn - 06/10/03
October 6 2003
A consortium led by none other than JJ Williams are looking to buy the Millennium. The takeover if accepted would more than wipe out the current debts of the WRU, but the union themselves don't seem that interested in the deal.
The bid believed to be worth around £170m, would see the union relinquish it's control to the consortium, receiving £20m up front. However David Moffett isn't exactly desperate to sell, with the WRU yet to respond after ten week's to the offer - which is amazing when you consider the massive debt of over 60m they still have four years after the stadium was first opened just in time for the last World cup.
But an alternative view is the stadium is more of an asset in the WRU's ownership than out of it. But iit's hard to see a way out of administration and possibly bankruptcy for the union if they do stick with it.
The stadium has failed to consistently attract big gig's during the big gaps in between rugby internationals. With the English FA soon to move it's cup finals back to London with the new Wembley set for completion in 2005, the future does not look too bright for Glanmor's pride and joy.
As Iestyn looks all set for a return North and Ponty struggle to stay alive, it beggars belief how something like this could sit for ten weeks untouched. But even with all that and more, it really would take something special to change Moffett's mind.