Wembley Posts £31m Pre-tax Losses
Wembley Stadium has revealed pre-tax losses of £31m for 2008 but has reiterated 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.
However 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.
‘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.
