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Wembley set for year one losses

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Wembley National Stadium Limited is expected to report a loss of more than £20m for its first year of operation when its accounts are published in mid-May.

Football Association sources insist the £800m stadium will eventually generate large profits but concede losses are again expected next year.

Including interest payments on the £346million loan, Tuesday's WNSL board meeting is set to be presented with a pre-tax deficit of around £40million.

The loss stems from heavy start-up costs in the first year of operating.

But with new broadcast rights deals worth over £550m, and there being no limit on the number of events Wembley hosts, the FA's finances appear to be in good health.

What are your thoughts on new Wembley and news of its first-year losses?

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posted Apr 25, 2008

Did anyone expect anything else

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comment by richakn (U3913112)

posted Apr 25, 2008

'Despite the O2 arena being open for only 7 months of the year, the venue sold over 1.2 million tickets in 2007 making it the 3rd most popular venue in the world narrowly behind the Manchester Evening News Arena (1.25 million) and Madison Square Garden in New York (1.23 million). In 2008 it is expected that the O2 arena will surpass all other venues, with predicted sales of more than two million'

Just to add fuel to the debate

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comment by HAYDON (U3615035)

posted Apr 25, 2008

That is not bad for a first year in business.

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comment by hiffuk (U10448555)

posted Apr 25, 2008

As visually impressive as it is, and considering the fact that i have never been to the new stadium neither will i in the future due to its obcene ticket prices and confectionary costs, this building really should have been a no go area.

Yes its in London?... Whoopey doo! but its us poor tax payer that will bail anything to doing with this waste of time and money. The prices in and around Wembley are way out of the average affordability for the average man and woman.

I had a freind who went their with his father and son. It cost him £300 just for 3 tickets and programmes, food and drink ect. The reason why its losing out is because its expensive, but the FA have no choice but to up the prices to recoup what they are so fastly losing.

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posted Apr 25, 2008

obviously you expect something like this to make a loss for a couple of years but i still don't like it. For the money spent it is really ugly. Apart from Anfield of course the most beautiful stadium IMO is the Allianze Arena.

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posted Apr 25, 2008

I bought a ticket the other day for England Vs USA friendly on the 18th of May.. I bought it for 60 pounds (cheapest was 40 but i would need binoculars to see from up there) so i ended up paying 62.5 for a ticket for a friendly between two teams that will bore me to death..
I paid this amount of money cause i want to go to see the stadium and believe me with prices like that i dont think i ll go very often.
Its ridiculous to charge so much for a friendly therefore they deserve to make losses as they charge too much for a product that doesnt deserve its money..
The product on display on the particular match is worth maximum 30-40 pounds not 60!!

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posted Apr 25, 2008

That is not bad for a first year in business
=============================
true considering how much they spent, BUT it is terrible for the average englishman who pays $14 for a burger. it is the fans who visit wembley to watch england, Playoffs, FA cup and carling cup finals that will lose out. prices will be increased.

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comment by Larry (U984015)

posted Apr 27, 2008

Agreed both ticket prices and the cost of food and drink are quite frankly ridiculous. Couple this with the fact that Wembley is in Underground Zone 4, and that adds an extra couple of pounds to your day out.

That said Wembley is in good shape, the number of musical events and other sports using it such as a now seemingly annual NFL match, coupled with the normal football activities averaging about eight international matches a year, four cup semi-finals and finals. The play-offs and such like.

As well as the business and conference angles.
One worrying factor is the fact that these figures probably include the expensive ten-year premium seats paid in advance.

If I was the FA, I would bring the catering in-house, thus deriving more profits and not giving money away.
I have also spoken to a couple of people who have worked in such outlets and they are on very basic pay (just above minimum wage), whoever runs these outlets are really raking it in at the cost of their employees who work tremendously hard in not particularly environments and of course the fans who pay extortionate prices. The OFT really must look at the ridiculous inflated prices that operate in these and other entertainment venues - it really ruins your day out having to pay such high prices.

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comment by HAYDON (U3615035)

posted Apr 27, 2008

£95 for a Cup Final ticket? Cheap smiley

Tickets for the EUFA final at Eastlands start at £300+ each.

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comment by HAYDON (U3615035)

posted Apr 27, 2008

That should be UEFA.

smiley

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