Swansea Conservative Leader questions Liberty management

Swansea Conservative Leader Councillor René Kinzett has been featured on TV news and in local newspapers after he expressed concerns about the sustainability of the Liberty Stadium. Now home to a Premiership football club, as well as the Ospreys rugby team, the governance and finance of the Stadium is being subjected to more scrutiny than ever before.

The facility is run by the Swansea Stadium Management Company, (SSMC) which is made up of representatives from Swansea Council and the two sports clubs, but a Wales Audit Office study, dated from January this year, concludes the "financial position of SSMC remains precarious and the current revenue sharing arrangements are considered unsustainable".

It also reveals that Swansea Council made a further loan to the SSMC in 2005, for £2.6 million, which it later wrote off, even though auditors "were not aware of any reason why such a loan could not have been sought from a commercial lender".

The report also reveals that, to date, Swansea Council has not received any repayments from the SSMC — despite additional, well attended concert events from artists such as The Who, Rod Stewart and Pink.

Swansea Conservative leader Rene Kinzett told the South Wales Evening Post: "It is a fantastic facility for Swansea but who is accountable for public investment? SSMC is supposed to be able to pay money for repairs but if no money is in the pot, then who is liable?"

For more information go to the South Wales Evening Post story.