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According to RTV Rijnmond, Feyenoord has abandoned its plans to build a new stadium.
Feyenoord have had plans to build a new stadium for a while, with Feyenoord City set to be built in Rotterdam South. The plans were met with a mixed reaction with a majority of fans not happy with the idea of leaving De Kuip.
However, RTV Rijnmond is now reporting that the plans have been scrapped due to the rising price of the project. Construction group BAM has informed the parties that the cost has risen sharply due to a number of reasons, including the rising price of steel.
Feyenoord now feels it is unrealistic to continue with the project, which they hoped would cost at most €441 million. However, Rijnmond reported last month that the deal would be more than €500 million.
The fact that the plug is now being pulled from Feyenoord City does have considerable consequences. Stadium Feijenoord will go bankrupt and the failure of the plans will also cost the club at least €2.8 million. Feyenoord will look at how it can take over the debts and ownership of Stadion Feijenoord. Only then will other possibilities be explored, including a renovation of De Kuip.
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