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This is how much the Austria stadium is worth to the City of Vienna!

Vienna Austria's home ground, the Generali Arena in Favoriten

(Bild: GEPA)

It is now available - the eagerly awaited appraisal for the City of Vienna's planned purchase of Austria's home ground, the Generali Arena in Favoriten!

The stadium was valued at 42.3 million euros, according to the office of City Councillor for Sport Peter Hacker. After deduction of eligible subsidies from the construction, the purchase price will amount to 39.4 million euros (excluding land transfer tax, please note). The rent was also quantified. Accordingly, Austria must transfer 1.4 million euros annually to the city for the use of the stadium. Hacker informed the members of the provincial sports council about the current status on Monday. The project met with broad approval in the committee, it was subsequently reported. There were no votes against. The next steps have already been decided: The takeover of the stadium is to be decided by the Vienna City Council on April 23.

Peter Hacker

(Bild: Groh Klemens)

Building rights agreement to be replaced by lease agreement
As part of the process, the existing building rights agreement will be terminated, replaced by a lease agreement and the UEFA four-star stadium will be transferred to the ownership of the City of Vienna. According to Hacker, the operation of the Generali Arena will remain with FK Austria Wien AG, which will also continue to be responsible for the management of the facility. However, the city has a right of control here via MA 51 (Sport Wien).

The multifunctional use of the facility will also be contractually fixed. This has been worked out with Austria in recent weeks, according to reports. In addition to Austria's regular match operations, it is planned to host ÖFB team matches, cup finals and other sports such as American football, if required. It is also intended to ensure that the stadium can be used by other Viennese soccer clubs in the event of promotion to the Bundesliga. There will also be space for amateur events in popular sports.

Harald Zagiczek

(Bild: GEPA)

"The city's departments have done a very good job in recent weeks. We have reached agreement with Austria on the conditions and can now implement the announcements we made in December," emphasized Hacker: "The Austria Stadium is one of the city's most important sports venues. My goal was and is to secure this important infrastructure and guarantee that it will benefit Viennese sport in the long term."

"Tight rules of the game" for Austria
The city's willingness to take over the stadium is subject to "tight rules of the game", the head of department announced. These include - as Hacker emphasized - by far the highest rent of any Austrian Bundesliga club. Harald Zagiczek, Chief Financial Officer of FK Austria Wien AG, expressed his satisfaction and assured: "We will continue to manage the stadium in coordination with the future owner in the interests of Austria Wien and Sportstadt Wien as general manager." Proceeds from additional events would remain with Austria.

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(Bild: GEPA pictures/ Armin Rauthner)

"With the sale, we are taking an important step towards improving the club's economic situation and at the same time securing the home ground for our fans and supporters in the long term," emphasized Zagiczek. As the city has owned the land since the stadium was built, the association with ownership of the property is the best solution for both sides and represents a "win-win situation".

According to Hacker's office, a total of eight out of eleven domestic Bundesliga stadiums are owned by the respective city - after the transfer of the Favoritner Arena. It is also not uncommon in international soccer for local authorities to take over stadiums from clubs, for example when their existence is threatened, it was pointed out.