20 Apr 2009Bristol City chairman sells shares for new stadium

Football Technology and Stadia

Bristol City chairman Stephen Lansdown has sold shares in another of his companies in a bid to raise funds to be put towards the building of a new stadium.

Mr Lansdown is also the chairman of the Bristol-based financial advisor Hargreaves Lansdown, in which he sold 23 million of his 132 million shares.

The shares were sold at 205p each, amounting to him receiving £47.15 million and leaving him with a 23 per cent holding in the company that he co-founded with Peter Hargreaves.

Hargreaves Lansdown said in a statement: "Monies raised from the sale will be used to help fund private projects including the proposed new stadium for Bristol City Football Club."

Mr Lansdown has stated in the past his desire to help the club build a new 30,000 seater stadium, which may help to raise the profile of the Championship side.

Bristol City are currently managed by Gary Johnson and play their home games at Ashton Gate, which has a capacity of just over 21,000.

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