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Wednesday, 25 September, 2002, 10:04 GMT 11:04 UK
The cost of Wembley
Wembley Stadium
The cost of redeveloping Wembley has soared
The new Wembley is expected to cost a staggering 750m, making it the most expensive sporting arena in the world.

Years of political wrangling and funding delays have pushed the price of building the new stadium through the roof.

  Cost of other stadia
Stadium Australia: 340m
Stade de France: 480m
Yankees Stadium: 687m

The 750m cost of redeveloping Wembley is in stark contrast to the 190m spent to build Cardiff's impressive Millennium Stadium.

Rival bids from Birmingham and Coventry were also half the price now being put on a new Wembley.

The breakdown of costs for the new Wembley project is as follows:

  • 325m to build the stadium
  • 120m to buy land
  • 50m for improving infrastructure
  • 23m for demolition
  • 40m for development costs
  • 80m in financing costs

Fees to bankers and lawyers alone are reported to add up to 82m, double the cost of building a stadium for a First Division club.

About 170m has come from public money, comprising 120m from the National Lottery and 50m from the Government and London Development Agency.

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 ON THIS STORY
Former sports minister Tony Banks
"Overall it's very good value for money"
Supporters Federation chairman Ian Todd
"We do need a national stadium"

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