Wembley In Frame For 2011 Cl Final
Wembley Stadium is back in contention to host the Champions League final in 2011 following a government U-turn on tax charges on overseas players’ earnings.
Under current law, players could be liable to pay tax on earnings from bonuses and endorsements if they appear at UK events even if they are based overseas – an issue that had ruled Wembley out from hosting the climax of Europe’s flagship domestic club tournament.
UEFA had awarded the 2010 final to Real Madrid rather than Wembley because of taxation system for overseas teams.
However the Treasury has now agreed to relax the tax charges freeing Wembley up to host the Champions League final.
If Wembley is now awarded the final the event could be worth more than £30m to the economy from tourism visits.
Football Association chairman Lord Triesman said: ‘UEFA has publicly acknowledged that Wembley would be an outstanding venue for the 2011 Champions League final, and we are hopeful that with the tax obstacle removed our bid will be successful. It is also a positive indication for our 2018 World Cup bid.’
The cost to the Treasury is an estimated £1.5m a year but the tax has not been collected at similar events in the past, such as when the final was played between two Italian sides at Old Trafford in 2005.
A decision on the 2011 venue will be taken by the European football’s governing body in the autumn and Wembley, which last hosted the European Cup in 1992 when Barcelona beat Sampdoria, is among the frontrunners.
