28th Sep 2009 - 00:00
Abstract
The Welsh Rugby Union (WRU) Group has renegotiated its current partnership with foodservice provider Compass Group to produce a new 15-year deal which it says will significantly increase revenue for the Millennium Stadium.
The catering, hospitality and conferences services contract is worth £100 million in revenue to Compass over the duration of the contract. The partnership also includes a five-year extension to the original deal, which Compass signed when the stadium opened in 1999. The new terms will run until 2024 and include the Millennium Stadium's acquisition of the kitchen and catering facilities installed on site at the time of its creation. Roger Lewis, group chief executive of WRU Group, said: "Our Group Finance Director has been instrumental in the creation of one of the most significant commercial deals for Welsh rugby, guaranteeing significant income streams and incentivising both Millennium Stadium and WRU staff to maximise the potential of events for the next 15 years. "Both Steve and our friends at Compass deserve high praise for the huge contribution they have made to ensuring the bright future of Welsh rugby and the Millennium Stadium and all its partners for many years to come." Matthew Thompson, managing director of Sport Leisure and Hospitality at Compass Group UK & Ireland, said: "Compass Group has a very positive relationship with WRU and the Millennium Stadium and I am pleased that we could forge a new deal that will provide significant financial support for rugby in Wales."
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