Tranmere Rovers joint owner Mark Palios says he is in discussion with ‘big names’ interested in funding the club’s proposed new stadium. Tony McDonough reports
Tranmere Rovers FC chairman joint owner Mark Palios says he is in discussions with “big names” over possible investment into a new stadium.
LBN revealed in January that Mr Palios was seeking new investors for the Wirral-based League Two outfit. He said fresh money into the club was essential if it was to fulfil its growth potential and build a new stadium to replace its current Prenton Park home.
“The club does not have the capital to complete these projects without external investment and, to that end, the directors are currently seeking investors who have the means and the appetite to take some or all of these projects forward,” he said.
Now Mr Palios, who owns the club along with his wife Nicola Palios, has offered an update on the search for new investors. And he said a new arena could provide a catalyst for the regeneration of the Wirral waterfront.
At an Insider Media round table event held at Wirral Chamber of Commerce, he said: “I’m trying to tie in the potential of the club with the geography.
“Outside of the football pyramid, is there potential outside of what happens on this pitch? Tranmere has been a Championship club and can be again.”
He added: “People can see its growth is linked to the potential on the south bank of the river. It is one of the few rivers that goes through a major city or conurbation that isn’t developed on both sides.”
And referring to plans for a new stadium, he revealed: “I advise my children, if ever they invest in property, invest in the south bank of the river. As sure as apples fall from trees, this place is going to get developed.
“We believe Tranmere can be a catalyst and can provide volume if we have Sport City Wirral there. We have been talking to interested parties for investment, including some fairly big names, in a new stadium.”
In June 2021 Wirral Council’s Economy, Regeneration and Housing Committee considered plans for a £100m ‘Sports City’ complex at Bidston Dock that would become Tranmere Rovers’ new home.
This development would comprise a 15,000-capacity stadium, digital golf driving range and retail outlets. It would also include a hotel and conference facilities. Prenton Park would be demolished to make way for housing.
However, Mr Palios has long insisted that any proposal to leave Prenton Park for a new stadium would only move forward in consultation with supporters.
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In January Rovers posted its annual accounts on Companies House for the 12 months to June 30, 2023. They cover the 2022/23 football season and show widening financial losses.
Revenues for the reporting period were £5.45m, just a fraction down on the £5.48m reported a year earlier. However, pre-tax losses widened significantly from £290,000 in the previous year to £1.37m.