Page last updated at 11:29 GMT, Saturday, 18 April 2009 12:29 UK

Chairman's boost for new stadium

Steve Lansdown
Steve Lansdown said his actions show he means business

The chair of Bristol City FC has revealed he has sold shares in his stockbroking company to raise funds to build the club's new stadium.

Steve Lansdown, who is the co-founder of Bristol-based stockbrokers Hargreaves Lansdown plc, said the £47.2m raised shows he means business.

He told the club's website: "It's been documented we need to raise money for the stadium. That's what I've done."

The club's new home would be at Ashton Vale, close to its current stadium.

'World cup venue'

Mr Lansdown, who still owns 22.9% of the company, said the sale of 23 million Hargreaves Lansdown shares had raised "considerable funds".

It is not known how much of the money raised by Mr Lansdown will be put towards the project, the cost of which has not been revealed by the club.

Bristol City Football Club wants to build the new stadium complex on 42 acres of land at Ashton Vale.

Speaking in February, Mr Lansdown said he hoped Bristolians would rally behind the club and support the plans.

The stadium could accommodate 30,000 fans but would be expanded to house 40,000 if the FA bid to host the 2018 World Cup in the UK came to fruition

If plans are approved the complex could be completed by 2012.

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