Football Stadium in Kochi by KFA and GCDA

2 July 2013
Kochi

Kerala Football Authority (KFA) and Greater Cochin Development Authority (GCDA) have conjectured to jointly develop the Ambedkar stadium as a football-only venue. The KFA and GCDA are expected to sign an accord in this regard on Thursday.

The stadium, which is owned Solely by the GCDA, is to be leased out to the KFA for a period of 50 years at an annual rate of Rs. 50,000 per year. The rate will the be hiked by 15 percent every 3 years. The KFA are expected to be allowed to use the stadium for 200 days every year for football puposes. On the remaining days, the GCDA are expected to host football events.

The development fund allocated by Hibi Eden, an MLA, is expected to be used to furbish the viewing gallery and accommodate a maximum spectator capacity of 1,000 fans. Venogopal has indicated that construction on the stadium will begin after Kochi corporation gives its not to the master plan which has been submitted to them by the GCDA.

With the work expected to be completed within a year from the date of start, an agreement has also been reached on the advertising rights and revenue front. It has been adjudicated that the KFA will hold all rights to advertisements within the stadium whereas all external advertisement revenues would be collected by the GCDA.

Source– http://www.goal.com/en-india/news/136/india/2013/07/02/4087993/development-of-ambedkar-stadium-being-planned-by-kfa-and

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