the interest on the loan until it was taken over by the municipality, but until then, Bodø/Glimt would not pay rent on the stadium. If the municipality was to finance the renovation in a regular manner, funds could not be allocated until the following year, which would cause two seasons to be lost. The new pitch included under-soil heating. In 1994, Bodø/Glimt started making plans to expand Aspmyra to allow it to host UEFA matches. The company Aspmyra Eiendomsutvikling was established to finance the project and own the stands. Details were presented in 1996, which consisted of the company being given the Aspmyra lot, worth NOK 15 million, from the municipality. The initial plans called for seated stands for 10,000 spectators—a quarter of the town's population—48 apartments and of commercial property. Funding was proposed to come from selling the residential and commercial properties and grants from NFF and the Ministry of Culture. The project also included new floodlights and a new club house. The municipal chief of administration, Svein Blix, stated that the project would also have to pay for the operation of the new venue and the construction of a new athletics venue, as the plans called to remove the running tracks at Aspmyra. The municipality gave the necessary permissions for construction in December 1997, but required that the club finance the upgrades, which the club could not afford. Kjell Ove Johansen, CEO of Bodø/Glimt's operating company, quit his job in November 1998 in protest against the mayor's and councilors' negative attitude and lack of trust towards Bodø/Glimt regarding the venue plans. On 27 January 1999, the municipal council passed a resolution allowing the venue to be sold to the club for NOK 7.9 million, with the official take-over date being 1 May. In addition, the company would pay NOK 5.5 million to the municipality at a later date, after the venue had become profitable. Construction started in October 1999, costing NOK 140 million. A new south stand was built with a roof, offices and change rooms, while a smaller stand without a roof was built to the east. The project cost NOK 40 million less than the original plans, in part because no stands were built on the west end. The two new stands had 4,350 seats and the venue was approved for UEFA matches. However, the venue was not allowed to use the old grandstand seating or