Vinci and Fayat sign contract for Bordeaux stadium
Alain Juppé, mayor of Bordeaux, and Xavier Huillard, Chairman-CEO of Vinci, representing the Stade Bordeaux Atlantique consortium bringing together Vinci Concessions and the Fayat group, have signed a partnership contract in the presence of Clément Fayat, chairman of Fayat. The contract, spanning 30 years from the date of commissioning of the facility, covers design, financing, construction, operation and maintenance of the new Bordeaux stadium, with a capacity of 40,000 places for UEFA EURO 2016.
In parallel, the Municipality and the FC Girondins de Bordeaux football club, in the presence of its Chairman-CEO Jean Louis Triaud and Nicolas de Tavernost, representing M6, the Club's sole shareholder, signed an agreement whereby the Municipality will make the infrastructure available to the club, participate in financing the project via an initial injection of €20 million and thereafter via an annual rental of €3.8 million for 30 years.
The Vinci Concessions-Fayat consortium, named preferred bidder in July this year, has completed financing of the contract, which represents a total investment of €219 million. The financing package consists of long-term debt of €114 million, without recourse to the shareholders, of a maximum maturity of 32 years, and an equity injection of €10 million, shared equally between the two shareholders. It is supplemented by a total subsidy of €75 million, spread between the State (€28 million), the City of Bordeaux (€17 million), the Aquitaine Region (€15 million) and the Bordeaux Urban Community (€15 million).
Vinci and Fayat have commissioned the international architects Herzog & de Meuron, which designed the Munich Allianz Arena Stadium and the Beijing Olympic Stadium. The project, located in the Bordeaux Lac neighbourhood, will meet UEFA criteria with a view to hosting Euro 2016 games. It will stand out from other sports stadium thanks to its unusual, almost square shape and will combine sober classicism and transparency, with tall columns holding the "bowl" of the grandstands.
Construction will be entrusted to a consortium of companies consisting of Vinci Construction France, consortium leader, through its subsidiaries GTM Bâtiment Aquitaine-Limousin and Faure Silva, and the Fayat group, through its companies SEG-Fayat, Razel et Castel & Fromaget. Upkeep and maintenance of the New Stadium will be entrusted to Vinci Facilities.
Stade Bordeaux Atlantique, a joint subsidiary of Vinci Concessions and Fayat SA, will handle operation of this multi-functional facility in partnership with FC Girondins de Bordeaux. It will cater to sporting, cultural, musical and corporate events. The operating company will be paid in the form of an annual rental from the Municipality and also through the proceeds of activities from resident club matches. Use of this new stadium as of the 2015-2016 season will allow FC Girondins de Bordeaux to generate resources to ensure its long-term competitiveness.
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