Netherlands-based football club Feyenoord has scrapped plans for a new stadium in Rotterdam, after cost estimates from the project developer BAM soared.

The Feyenoord City project, which included a new 63,000 capacity stadium on the banks of the River Nieuwe Maas as well as shops and houses, was originally projected to cost £385M, but BAM informed the club that the price would be significantly increased. This is due not only to increasing building costs, but BAM’s new direction for the project, which will see the price reach at least £425M.

The construction company also recently announced a new policy by with they will withdraw from any projects they consider to be risky.

An official announcement is yet to be made by either Feyenoord or BAM, but sources close to the club say they are outraged at the developer’s new proposals and will cancel the project. This is inevitable, especially considering its financial situation.

Local sports journalist Arno Vermeulen has said that “Feyenoord is financially on the edge of an abyss”. The club is already £8.5M in tax debt and faces the repayment of a £25M bridging loan to Goldman Sachs if the new stadium plan does not go ahead. Feyenoord’s current stadium De Kuip is on the line as collateral should they fail to make payments.

Fans of Feyenoord will be in quandary. They opposed the building of the new stadium, preferring to stay in the beloved De Kuip. However, it could soon be owned by the American firm.

If the club manages to keep hold of the stadium, it will look to expand it in lieu of a whole new project. This in itself is likely to cost around £200M, and will mean reduced capacity – and income – while the stadium expansion project is undertaken.

BY ROB HAKIMIAN

Formula 1 Race Director Michael Masi has expressed confidence over the construction of the Jeddah Corniche Circuit ahead of its debut event.

Formula 1 is due to visit Jeddah on December 3-5 for the Saudi Arabian Grand Prix, the penultimate round on this year’s 22-event calendar. A 6km 27-turn quasi street circuit, which is set to be among the fastest on the schedule, is being developed on Jeddah’s Corniche adjacent to the Red Sea.

Photos and videos that emerged from a recent preview segment carried out by Formula 1’s broadcast team highlighted the work that is still required. But Masi has asserted that everything will be ready in time for the circuit’s debut at the start of next month. “There is a lot going on there,” said Masi at the Mexico City Grand Prix. “There is a huge amount of work happening.

“The FIA and F1 are getting daily updates of where things are at, and it’s progressing very, very quickly. “Yes, there’s a lot to do – there’s nothing to deny there, I think everyone will acknowledge there’s a lot to do – but I’m still confident of the race going ahead, no problems.” Masi pointed to previous circuit builds in conceding that “there’s always an element of worry with everything” but outlined that “having been involved [with] Korea in 2010, and I think India was talked about, [and] both of those went off with no problems, I’m quite confident Saudi will be exactly the same.”

Masi is due to make another visit to Jeddah ahead of its inaugural grand prix, either shortly before or after the preceding event in Qatar. “There are areas absolutely complete [and] the quality of work is first class,” Masi asserted. “They will finish, I have confidence. Given that the Jeddah Corniche Circuit is being built in record time, it was always the case that timings would be tight. Construction remains on schedule and will be completed on time ahead of F1’s arrival next month,” said Saudi Arabian GP CEO Martin Whitaker in a statement.

Saudi Arabia has a 10-year contract to host Formula 1 races and next year’s event, set to be held in late March, will also take place at Jeddah. Long-term the plan remains to move the event to the Qiddiya entertainment facility under construction on the outskirts of capital Riyadh. The Jeddah circuit will then form part of the Corniche’s regeneration that includes sustainability and environmental projects, along with recreational areas for residents.

Morgan Sindall Infrastructure and Arup have been awarded an extension to deliver the remaining term of the Infrastructure Strategic Alliance (ISA) contract by Sellafield Ltd. The ISA is an alliance between Sellafield Ltd, Morgan Sindall Infrastructure and Arup that delivers a programme of infrastructure projects for Sellafield’s aging asset portfolio.

The ISA is one of several long-term strategic supply agreements aligned to the Sellafield acquisition strategy. Initially awarded in 2012, the ISA is responsible for a £1.1bn contract to provide essential infrastructure assets to the Sellafield site.

Over the past nine years, the contract has played a significant role in supporting Sellafield’s mission, as well as delivering socio-economic benefits across Cumbria.

Simon Smith, managing director for Morgan Sindall Infrastructure, said: “Securing the third term and extension to the ISA contract, is another great opportunity for Morgan Sindall Infrastructure. Alongside our role on the programme and project partners partnership, which is also being delivered on the Sellafield site, we can continue to work with local organisations and the community to help build sustainable local economic growth. Creating greater opportunities for future generations as part of our commitment to being a responsible business.”

Arup’s digital leader for UK, India, Middle East and Africa, Jim Johnson, said: “We are committed to maintaining a positive presence wherever we operate – and as such we look forward to continuing to play a key role in supporting the local economy in the years to come. The extension of this contract is great news and testament to the hard work of all partners in this alliance.”

The contract is primarily aimed at utility assets, such as electricity, water supply and compressed air, bulk chemical storage and distribution, civil infrastructure, the site’s drainage networks and other facilities including roads, bridges, car parks and general buildings. It also includes some non-utility assets such as analytical services facilities, transport systems, flask maintenance plant and emergency management systems.