The GFA says it has made “significant progress” on the development of the new national football stadium, complete with separate residential and commercial spaces, which it says will “redefine Gibraltar’s footballing future, as well as its skyline.” 

A statement continued: “In a first for Gibraltar, a consortium of local commercial banks have come together to confirm there is an appetite to agree terms for a facility which they would enter into with a subsidiary of the GFA, Stadium Development Limited, for the purposes of financing the project. Stadium Development Limited would act as the Developer of the project and the sale of the residential and commercial elements would cover the cost of the stadium. 

“Consultants with experience in development and finance, spearheaded by Nigel Pardo, Nicholas Culatto and Albert Mena, have carefully reviewed and further developed the project, ultimately ensuring the feasibility of this iconic landmark venture. A team of professionals has been engaged to undertake the development going forward. 

“Gibraltar’s football stadium is poised for a transformative upgrade that promises state-of- the-art footballing facilities tailored for both our local pride and global prowess. A beacon of unity and achievement, this project will stand as a testament to Gibraltar’s spirited and united community.”

Michael Llamas, President of the GFA, said “The GFA eagerly looks forward to the completion of this facility so that we can finally host major UEFA and FIFA matches in a top- tier, compliant, UEFA Category 4 stadium, right here at home in Gibraltar. This dream, a decade in the making since our full UEFA membership, is becoming a reality. This project will cement our status as a footballing nation”. 

The Chief Minister commented on the progress, “We are pleased to have supported the GFA in developing the stadium and are excited about the opportunities this brings to Gibraltar – in terms of the continuity of our footballing journey and in terms of the enhancement to Gibraltar’s tourism product. This Government is happy to Stand Up With the GFA”.