Zurich: FCZ and GC form joint venture for new Hardturm stadium
The two Zurich football clubs, Fussball Club Zürich (FCZ) and Grasshopper Club (GC), have laid the foundations for the new stadium on the Hardturm site. They founded an operating company, Stadion Zürich Betriebs AG.
Just over a year ago, the Zurich City Council decided, on the unanimous recommendation of the jury decided on the "Ensemble" project by HRS Investment and Credit Suisse real estate investment vehicles. The project comprises the construction, financing and operation of a football stadium for 18,000 spectators, two residential and commercial towers and around 170 cooperative apartments belonging to Allgemeine Baugenossenschaft Zürich (ABZ).
The investment volume for the major project is estimated at CHF 550 million according to earlier information. The City of Zurich, which is not involved in the construction or operating costs of the stadium, is providing the approximately 55,000 square meter site as part of a long-term building lease.
Joint venture for stadium operation
With the founding of Stadion Zürich Betriebs AG, the foundation for the new Hardturm Stadium has now been laid, FCZ and GC announced. The operating company FCZ and Neue Grasshopper Fussball are each acquiring 49 percent of the share capital. The remaining two percent is held by MFT Meier Finanz-Treuhand, owned by Daniel Meier, President of Pro Sport Zürich.
Meier will also become Chairman of the Board of Directors of AG. Ancillo Canepa and Thomas Schönberger from FCZ and Stephan Anliker and Manuel Huber from GC will occupy the remaining four seats on the Board of Directors. The two city clubs will run the stadium as a joint venture, with equal responsibility for operations and marketing.
