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Wembley reveals 31m pre-tax loss

Wembley Stadium
Wembley Stadium was completed in 2007 and cost over 750m

Wembley Stadium has revealed pre-tax losses of £31m for 2008 but says it is on course to record a profit within five years.

The owner, Wembley National Stadium Limited (WNSL), actually made an operating profit of £5.9m in the year.

But interest payments of £26.6m and £10.9m in bank fees associated with financing the new stadium put the company in the red.

After tax and interest, the loss was £23m, an improvement of £13.1m on 2007.

WNSL chairman David Bernstein said: "I believe that 2008 will be seen as a watershed year in our history as the stadium reclaimed its place on the world circuit.

606: DEBATE

"I am sure 2009 will underline the status of Wembley as one of the world's premier venues, catering to all ages and tastes."

Since the stadium reopened in 2007, almost six million people have been through the turnstiles. All of England's home World Cup qualifiers were played there and this year there have been concerts by U2, Take That, Oasis and Coldplay.

The stadium has also played host to NFL American football fixtures.



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see also
Wembley Stadium refinances loan
26 Sep 08 |  Business
Wembley Stadium owner posts loss
15 May 08 |  Business
Patriots pound Tampa at Wembley
25 Oct 09 |  American Football
Wembley record 'broken by U2 gig'
15 Aug 09 |  Entertainment


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