The decisions to replace Scandinavium and Valhallabadet with a multi-arena and central bath have been clear for a couple of years, with a large majority in Gothenburg's municipal council supporting the project. The municipal board tabled the matter five times since January before approving the financial strategies document on Wednesday. The administration assesses that the cost corresponds to about six percent of all investments over a ten-year period and is therefore possible to manage, with sharp decisions on how the arenas will be paid for not needed until next year.
Opposition parties, including the Moderate Party, Democrats, Liberals, and Centre Party, argue it is not serious to not already have a clear idea of where the money will come from. They point out that the city's total loan debt last year increased by 5.8 billion and reached 66.8 billion – an increase of 28 billion over ten years. These parties advocate that a large part of the arena project should instead be paid by the city selling properties, such as making it more affordable for residents living in leasehold rights to buy them out.
The financing issue has unfortunately not been possible to solve jointly.
Alternative financing proposals have emerged, with the Social Democrats and Left Party rejecting the line of selling properties and saying that the municipality's ongoing surplus and, if necessary, a tax increase can handle the cost. The Christian Democrats and Sweden Democrats say no to the main proposal and, in slightly different ways, want another review to build simpler and cheaper, while the Green Party also wants another review, primarily fighting for Valhallabadet not to be demolished. A six-party group perceives the idea of another failed arena plan as extremely difficult to digest and a sign that politics cannot be trusted. Hours before Wednesday's municipal board meeting, the Moderate Party, Democrats, and Liberals submitted a statement mentioning that the financing issue has not been possible to solve jointly and wrote that the up to 14 billion need to be shaken out without borrowing. The Centre Party is not in agreement with the Social Democrats and Left Party but has written a separate statement on the same theme, stating that the city must actively work to free up its own capital. In response, the Left Party and Social Democrats have formulated a statement where they write that the long implementation time of the project also means that it is neither possible nor desirable to lock financing conditions too early in the process.
The exact total cost estimate for the arena project and which specific properties are being considered for sale to finance it remain unknown, as do details on how much a potential tax increase might need to be.
Without a joint financing solution, there is no project.