Saracens follow up fine and point reduction with exciting announcement
Despite a challenging few weeks, Saracens are expanding the club by building a new grandstand at their home stadium in North London, at a cost of £23m.
The 3000-capacity stand is being financed by public money in the form of a £22.9 million loan from the local London Borough of Barnet.
Construction work on the new West Stand at Allianz Park will start soon, with the existing 55-year-old stand closed since the start of the season.
The loan from Barnet Council has an interest rate of six per cent, and is due to be paid back in 30 years’ time, according to documents released under freedom-of-information requests made by local residents.