Swansea City FC's deal to lease Liberty Stadium approved

Swansea council built the stadium which opened in 2005 at a cost of £27m

Swansea City FC's bid to lease its Liberty Stadium home has been backed.

The Swans will pay Swansea council £300,000 a year for 37 years, give it a cut of stadium naming rights revenue and build 3G pitches in the city.

Both Swansea and the Ospreys rugby region have played at the £27m venue since 2005, paying a nominal rent to the management company running it.

Swansea council's cabinet rubber-stamped the deal on Thursday but will retain ownership of the ground.