Does anyone actually KNOW who exactly owns the new stadium and if there is any time limit on the ownership?
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Does anyone actually KNOW who exactly owns the new stadium and if there is any time limit on the ownership?
Why???
It's jointly owned by the IRFU and the FAI, with the Rugby fellas the majority owners. The FAI's share runs out in 50 years or something like that.
Because the rumour persists that the current arrangement expires after 50 years and ownership reverts to the IRFU. This all seems to stem from a single line written by Vincent Hogan last April (http://www.independent.ie/opinion/co...y-2143079.html)Quote:
Originally Posted by ArdeeBhoy
This just seems a bit implausable to be honest, but if it's true, why is it a secret known only to Vincent?
My understanding is that the IRFU and the FAI jointly own the stadium but the IRFU own the land.
To be technically correct I think they jointly own (as in completely 50/50) the company that owns the stadium (formerly "The Lansdowne Road Stadium Development Company")Quote:
Originally Posted by gspain
The Stadium Company pay the IRFU something like €1m a year ground rent. So, as pointed out above, the IRFU own the land and what is built on it is 50/50. The IRFU have a similar arrangement for Thomond Park - its owned by a Stadium Company (50% IRFU/50% Munster branch). The Munster Branch have a €10m interest free loan from the IRFU though, which they have to pay back within 10 years when the Munster Branch will then own the stadium.