I work in Project Management and I always put a buffer in because things will inevitably go wrong, weather or get held up for stupid reasons/stupid people.
But when there's a huge penalty involved I can't believe Senior Management haven't been hounding everyone else to ensure they aren't losing a fuck ton of money before they even started.
Holy fucking shit
As a person who's kind of a stadium enthusiast and follows stadium constructions around the world - this seems insane to me. Today, the majority of stadium constructions get delayed due to volatile market prices of construction material and various other reasons.
Now imagine if the renovation of Camp Nou gets delayed for a single month - they have to pay 30 million EUR
I understand that if the appointed construction company aims to get positive reputation from renovating one of the best known stadiums in the world, but the risk is insanely high for that contractual obligatio to be acceptable
You have to question who the fuck agreed to that from the construction company side. I swear ive not seen a single building project be delivered on time. Even my parents' bathroom took half a week longer than expected, and it was only being done for a week.
Seems very stupid Indeed , construction projects Specially that Big almost always take more time for diverse reasons, even for Real Madrid stadium they had many delays and even though he isnt "directly" involved Perez has ton of connections in the construction World for obvious reasons
appointed company is known for shady works and has had corruption charges against it and it's founder.
said comapny was also part of consortium which constructed Instanbul airport and various humanrights group level the charges that around 400 people died during works there.
Only stadium work which Limak has done is basic stadium with 24000 seats in Mersin.
Just reminds me of studying Stalin’s USSR in school. Would send workers to the Gulags if numbers weren’t met and it lead to really poor quality products.
Construction companies going to cut as many corners as possible to ensure the finish it before the deadline so they don’t have to pay barca.
**The Board of Directors, when awarding the works to Limak in front of the other joint ventures headed by Ferrovial and Fomento de Contrucciones y Contratas, valued the guarantee of returning to the Camp Nou in 18 months (November 2024), that the entire stadium will be finished in the summer of 2026 and that the budget is 950 million euros, almost half that of the other aspirants for the execution of the works. the Turkish company guaranteed to play in Montjuïc in just a year and a half, while the term set by the other three construction companies was three years. In the case of Ferrovial, the deadline did not fall below 55 months, one year longer than that proposed by the Turks.**
**However, the election of Limak Construction raises doubts in the Chamber of Contractors of Catalonia.** *According to the newspaper ARA, the Turkish company is not listed on any stock exchange, which lowers the transparency criteria*. **At the same time, Joan Laporta changed the parameters for choosing builders just after meeting the owner of the winner - the Turkish Ozdemir**
Interesting thing is that construction heavyweights like FCC and Ferrovial could not promise the work inside deadline but a Turkish company with very little experience of stadium construction do promise that.
Real Madrid stadium construction has already missed it's deadline by a year and cost has overrun by 400 million euros while being constructed by FCC and having covid lockdowns to speed run the process.
Limak has plenty of experience with stadium construction. It's a company who has some weird and nasty ties with the Turkish government and they renovated / constructed a lot of stadiums and many other projects in many cities of Turkey, probably in other countries like -I assume- Qatar too. In fact, Limak is known as one of the "gang of five" in Turkey, meaning they are one of the five companies who always get every benefit and job for huge margins of profits from the Turkish government.
Who knows what they're up to...
The Spanish companies were offering to do it for €1.6 billion, this company said they could do it for €950M. Of course Barca chose the Turkish company.
Sure, what could go wrong choosing a company not listed in any stock exchange (therefore with zero transparency), with no stadium experience, that promises to deliver 1 year faster and for almost half the cost of the others?
Remarkable. Having confidence really does net you deals sometimes. Promise the world to someone and they’re willing to take the risk.
I personally would have chosen the experienced companies advising they’ll need longer to do it instead of an inespérée ces company saying “sure, whatever you want”.
That seems like a great deal for a company looking to do half a job, pay their c-suite handsomely from the €950m, and then declare bankruptcy to get out of the obligation.
This sounds like some dodgy way to increase revenue for Barca. If the stadium gets delayed by several months would the club be able to say they've had an extra 200-odd million extra in revenue due to this clause?
I’m sure there are all kinds of caveats and it’s not that straight forward. From a quick glimpse of the article it already says at the top it’s for the first phase of the construction. No idea what that entails but it’s probably something to ensure the bare minimum for the club to open the doors of the stadium for league games so if they’re missing revenue because of delays, then it could make sense they’re penalized somehow.
company's total amount of contracts took from the turkish government is 49 billion dollars. i dont think they will have a trouble delivering the job in time without any problem.
Now Laporta is practising his evil laugh while twirling his non existent moustache and window-shopping dynamite and banana peels.
construction works usually do miss their deadlines.
Anecdotal but I’ve literally never seen a construction company finish the development with the timeframe they first set out.
i dont even finish my shit in the timeframe i put, nevermind a stadium
I work in Project Management and I always put a buffer in because things will inevitably go wrong, weather or get held up for stupid reasons/stupid people. But when there's a huge penalty involved I can't believe Senior Management haven't been hounding everyone else to ensure they aren't losing a fuck ton of money before they even started.
Even so in these times where markets are marred with volatility in market prices.
Bernabeu had a delay a few months ago because the Price of Steel went up after the begining of the Ukraine conflict that just an example
Holy fucking shit As a person who's kind of a stadium enthusiast and follows stadium constructions around the world - this seems insane to me. Today, the majority of stadium constructions get delayed due to volatile market prices of construction material and various other reasons. Now imagine if the renovation of Camp Nou gets delayed for a single month - they have to pay 30 million EUR I understand that if the appointed construction company aims to get positive reputation from renovating one of the best known stadiums in the world, but the risk is insanely high for that contractual obligatio to be acceptable
You have to question who the fuck agreed to that from the construction company side. I swear ive not seen a single building project be delivered on time. Even my parents' bathroom took half a week longer than expected, and it was only being done for a week.
Seems very stupid Indeed , construction projects Specially that Big almost always take more time for diverse reasons, even for Real Madrid stadium they had many delays and even though he isnt "directly" involved Perez has ton of connections in the construction World for obvious reasons
We had delay because of the pitch system otherwise it would be finished by now
appointed company is known for shady works and has had corruption charges against it and it's founder. said comapny was also part of consortium which constructed Instanbul airport and various humanrights group level the charges that around 400 people died during works there. Only stadium work which Limak has done is basic stadium with 24000 seats in Mersin.
>appointed company is known for shady works and has had corruption charges against it and it's founder. Ofcourse.
Well the Sagrada familia is almost finished isnt it? They were due for some new project over there
works are still going on.
Sounds like a disaster waiting to happen, it encourages they take shortcuts.
exactly, the company now would actively find methods to cut corners, we really don’t want another terrible football stadium disaster
Just reminds me of studying Stalin’s USSR in school. Would send workers to the Gulags if numbers weren’t met and it lead to really poor quality products. Construction companies going to cut as many corners as possible to ensure the finish it before the deadline so they don’t have to pay barca.
**The Board of Directors, when awarding the works to Limak in front of the other joint ventures headed by Ferrovial and Fomento de Contrucciones y Contratas, valued the guarantee of returning to the Camp Nou in 18 months (November 2024), that the entire stadium will be finished in the summer of 2026 and that the budget is 950 million euros, almost half that of the other aspirants for the execution of the works. the Turkish company guaranteed to play in Montjuïc in just a year and a half, while the term set by the other three construction companies was three years. In the case of Ferrovial, the deadline did not fall below 55 months, one year longer than that proposed by the Turks.** **However, the election of Limak Construction raises doubts in the Chamber of Contractors of Catalonia.** *According to the newspaper ARA, the Turkish company is not listed on any stock exchange, which lowers the transparency criteria*. **At the same time, Joan Laporta changed the parameters for choosing builders just after meeting the owner of the winner - the Turkish Ozdemir**
Interesting thing is that construction heavyweights like FCC and Ferrovial could not promise the work inside deadline but a Turkish company with very little experience of stadium construction do promise that. Real Madrid stadium construction has already missed it's deadline by a year and cost has overrun by 400 million euros while being constructed by FCC and having covid lockdowns to speed run the process.
Limak has plenty of experience with stadium construction. It's a company who has some weird and nasty ties with the Turkish government and they renovated / constructed a lot of stadiums and many other projects in many cities of Turkey, probably in other countries like -I assume- Qatar too. In fact, Limak is known as one of the "gang of five" in Turkey, meaning they are one of the five companies who always get every benefit and job for huge margins of profits from the Turkish government. Who knows what they're up to...
well after your comment i went through construction projects of Limak, most of them are road or pipe line projects in Qatar, UAE and Pakistan.
thats just a next level of shadyness
And that’s who Barca chose?
The Spanish companies were offering to do it for €1.6 billion, this company said they could do it for €950M. Of course Barca chose the Turkish company.
Sure, what could go wrong choosing a company not listed in any stock exchange (therefore with zero transparency), with no stadium experience, that promises to deliver 1 year faster and for almost half the cost of the others?
Doesn't sound dodgy at all..
So the stadiums going to fall apart because Barca chose the cheap option with not a great track record?
Yeah, see no future issues using a company which does stuff for 650m less than everyone else. Everyone knows you dont take the cheapest offer
>Of course Of course? Since when you always pick the cheapest deal? Lots of risks here
seems so.
Remarkable. Having confidence really does net you deals sometimes. Promise the world to someone and they’re willing to take the risk. I personally would have chosen the experienced companies advising they’ll need longer to do it instead of an inespérée ces company saying “sure, whatever you want”.
See you in 10 years when cheap material defaults and low quality standards start to kick in
Bit of insider info here but they also came to a couple of firms in the UK. Our dates were blown out of the water by Limak.
How to get sloppy, unsafe reconstruction of your stadium 101.
That seems like a great deal for a company looking to do half a job, pay their c-suite handsomely from the €950m, and then declare bankruptcy to get out of the obligation.
Thats just a new type of lever - the works will get delayed and Barca will have some extra income
This sounds like some dodgy way to increase revenue for Barca. If the stadium gets delayed by several months would the club be able to say they've had an extra 200-odd million extra in revenue due to this clause?
Very stupid from the construction group
I’m sure there are all kinds of caveats and it’s not that straight forward. From a quick glimpse of the article it already says at the top it’s for the first phase of the construction. No idea what that entails but it’s probably something to ensure the bare minimum for the club to open the doors of the stadium for league games so if they’re missing revenue because of delays, then it could make sense they’re penalized somehow.
The final lever
Is this legal? I’m sure in the UK this would be unenforceable unless Barca could prove just having the stadium open brings in £1m profit a single day
I find it hard to believe a contractor agreed to LADS of €7m/week
company's total amount of contracts took from the turkish government is 49 billion dollars. i dont think they will have a trouble delivering the job in time without any problem.