We bought Sportlifecity, which already had a project fully approved and had all the permits and were ready to build. We are now asking the council to change the design to make a bigger stadium. The rules allow for a certain percentage of your project area to be built up, lets say you can only build on 120% of your land, volumetrically. That for SLC was a certain number that allowed for buildings and a stadium for 20,000. We want more, so what we did was we bought more land surrounding the SLC plot. That allows us to keep the same 120% percentage, but increase the total volume. What's happening now is that we are asking for approval to do this, and to show all the repercussions because of the increase in load (people and services) and how it affects the transport network. This has all been approved previously, we're just amending. It's not a feasibility study or anything like that. We have the permit ready to go for the original 20k stadium and old design of the project, and this makes it a LOT easier to move forward. Once they approve the variant to the design, which is supposed to happen in a few months, then we are all good to go. We will start the actual designing of the project and do all the design integrations with the road networks and figure out policing and get the final ok from the council. At this point we will start spending a LOT of money, which means we would have had legal guarantees that everything is good to go.
So basically the only road block left is for the council to approve the variant soon. After that happens, we move forward as if we were SLC going ahead with their amended project.