Aberdeen Football Club can confirm that following the decision by Aberdeen City Council to support the proposed new stadium at Loirston Loch and the Scottish Government's decision to allow the development to proceed, the Club will be working over the coming months to bring forward funding proposals for the delivery of the stadium and the proposed training and community facilities at Calder Park and to seek planning approval for the sale of the existing Pittodrie Stadium site.

Duncan Fraser, Chief Executive Officer stated. "The decision of the Scottish Government to allow the stadium development to proceed is a critical step forward and follows on from the decision of the Council to support the proposal following the most comprehensive consultation and public scrutiny. I would like to put on record our thanks for the help and support of our professional team. Also the help and cooperation of the council and its staff in what has been a long and enduring process, from the start of the site selection, through to gaining a consent. With the continuing support of our major shareholders and the bank we can now move forward in the coming months to bring together a funding package. We will also be working hard to finalise the complex legal agreements tied down with regards to the development.

"A substantial element will come from the proposed sale of the existing Pittodrie site and we hope to have planning approval for this within the next couple of months. We are also working with Cove Rangers to bring forward the plans for their new stadium as well as first class football training and community facilities at Calder Park.

"The huge funding challenge will result in a big call on our major shareholders and others. We also hope to secure a significant contribution from the naming rights, enabling funding and a manageable mortgage. The challenge is massive and we will explore all options to ensure this major project, which will benefit the whole of the region, is successfully delivered".