Date: 1st August 2008 at 9:09pm
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Rotherham Borough Council agreed on Wednesday to put forward to the full council, a recommendation that a £500,000 bond was given towards the bond for the Football Foundation.

The bond would only come into force if substantial progress has not been made towards the building of a new stadium within four years time but would show commitment to a new community stadium.

In a statement to The Advertiser Council Leader Roger Stone said, ‘The local authority had sent a letter of commitment but the football foundation were looking for a greater deal of reassurance. Rotherham Borough Council has made no secret that it supports the idea of a community stadium but we hope the offer of this bond is concrete proof of our commitment to see a 15,000 all seater stadium built in the town that will provide both sporting and community facilities for the people of Rotherham.

‘Obviously, there are no guarantees. That is the risk the authority will have to take and it will be carefully monitored.’

Cabinet members heard that the Foundation had concerns and needed reasurances from the Council that the club will eventually move back to Rotherham and hopefully the promise of the bond would prove this.