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State Aid

State Aid: Financing of new football stadium in Oslo approved

10.6.2015

PR(15)25


Illustration: Pål T. Rørby / Arkitektkontoret Lille Frøen

EN | NO

Today, the EFTA Surveillance Authority approved state aid to enable the construction of a new football stadium in Valle Hovin in the east of Oslo.

The aid will be granted through a transfer of land for NOK 1 to Vålerenga Fotball club, which will be responsible for the construction and operation of the stadium. The stadium will be built on one part of the transferred land, while the other part will be sold to a property developer to finance the construction costs.

«The new stadium will address the shortage of football facilities in Oslo and provide the football club with a site from which it can operate its sport and other community activities. Prior authorisation of the aid measure was required as the stadium will be used for economic activities, in particular by hosting Vålerenga Fotball's Elite teams», Ms. Oda Helen Sletnes, president of the EFTA Surveillance Authority, said.

The project will also include premises for a specialised upper secondary school, a kindergarten and other facilities.

In its assessment, the Authority concluded that the project suffers from a funding gap and would not be pursued absent the aid measure. The Authority also verified that the stadium project contributes to the social activities of the football club and does not result in any undue distortions of competition, in particular regarding Vålerenga's professional (Elite) football teams.


Quick facts:

  • Projected construction costs: NOK 720 million

  • Public funding through transfer of land: NOK 203.1 million (EUR 24.3 million)

  • Public funding through grant from Norsk Tipping's lottery funds: NOK 20 million (EUR 2.4 million)


Documents

 

For further information, please contact:

Mr. Andreas Kjeldsberg Pihl
Press & Information Officer
tel. (+32)(0)2 286 18 66
mob. (+32)(0)492 900 187

 




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