Saturday 29th September will mark a year since the issuance of the Stevenage FC Bond, the first ever in English football...
As we approach the first anniversary, there is plenty to share on the progress of the North Stand and related issues.
As of last week and as per the terms of the bond, we have now issued the first annual interest payments to all bondholders in line with the first anniversary of the bond issuance.
Work on the project had to stop when UK Power refused to allow the Club to construct a stand around their existing substation as planned, on the basis that they held an expired lease for this land from over 50 years ago – something which was unknown to the Club and, it appears, unknown to the Council. It would have been useful if this had been determined at the planning application stage or in the extensive correspondence had with UK Power three years before. As it wasn’t, the Club have had to work hard with the Council to provide an alternative site for the substation.
The Club are now close to a solution with UK Power to re-position the existing substation in a new location, adjacent to the stadium. Stevenage FC hope to provide a cleared site for them to install their substation by 17th September and are hopeful that they will then divert the existing mains supply away from the North Stand to this new site within four weeks of the cleared site being available. This will allow contractors to finish the sub structure works during October, allowing them to start installing steels on site during November and December.
By the end of January Stevenage FC hope to have the main frame of the stand in place, with the concrete terraces on site, ready to accept seating (featuring SFC in red on white) during February/March. Work will then start on the internal fit out, the turnstiles and the exterior works.
In other news, the Club have ordered a new 5m x 3m LED screen to sit in the North East corner of the stadium. The screen will be complete and ready for delivery by the end of September, with a plan to wait until the steels have been fitted before installing this screen.
Finally, the old scoreboard above the South Stand has now been removed and will be replaced within the coming weeks.