Back in 2017, the GOG announced with fanfare that the construction of the new Victoria Stadium would come “at no cost at all to the taxpayer.” 

The money to develop the stadium, as did the money to purchase the old Victoria Stadium grounds would be provided by the GFA, who would also invest further UEFA/FIFA funding “in the region of £15m in the redevelopment of the (new) Victoria Stadium and the old Sports Hall.”

This weekend, as new plans for the development of the Victoria Stadium emerged, we were informed of a new arrangement in which the Gibraltar Savings Bank will “sponsor” the development as an “investment … in the economic plan for Gibraltar.” Together Gibraltar would like to remind the general public that the Gibraltar Savings Bank is not a commercial bank, and that (as per GSB ACT 2019) “the repayment of all moneys deposited in the Savings Bank together with the interest thereon is guaranteed by the Government.”