The loan leaves the Millers just £2.7 million short of the total £17.7m needed to finance the building of the stadium.
Despite opposition from Conservative councillors, RMBC backed the loan with council leader Roger Stone saying; “This is about working in partnership. If we went back to how it all started and look at the path it’s taken, it’s been amazing and will no doubt regenerate that whole area.”
“Everybody benefits as a result of this investment. It’s about supporting local businesses. “It’s about community facilities and meeting the needs of the fans who religiously travel out to the Don Valley and soon they will be able to watch home matches at home. “It’s about footfall and the feelgood factor that this will generate. “This is a really strong example of a local council promoting regeneration within its local area.” added Council chief executive Martin Kimber
Millers chairman Tony Stewart said; “From day one of my tenure at Rotherham United Football Club the council have been as determined as I to make this happen, not just for the football club but for our town,”
“By continuing to work as a team, in partnership, we’ve managed to overcome all the trip wires and hurdles throughout the long journey that this project has presented and now we can all look forward to witnessing the stadium being constructed.” he added.
Meanwhile commercial director, Steve Coakley, added; “This isn’t just about the football club, this is about the town where too often people don’t appreciate what work goes on here,”
“The town does punch above its weight and this is a testament to the key individuals saying this is what can be achieved. Today is a really proud moment for everybody involved.”