WEMBLEY'S NEW £326M national stadium will provide good value for public money, MP's were assured this week in the House of Commons.
Secretary of state for the Department of Culture, Media and Sport, Tessa Jowell, confirmed that an independent study by cost consultant Cyril Sweet had showed that the price for contractor Multiplex to build the scheme was competitive in the market.
Jowell also confirmed that requirements outlined by the government last year 'had been substantially met' by the deal.
These demanded that construction costs were competitive, that the project board was changed to include major project delivery (NCE 20 April) and that full access was given to the national audit office. Government had also insisted that a temporary athletics platform was provided in the scheme.
Although these demands have not yet been met in full, Jowell said it would be unfair to pull the plug as the deal is closer to completion than ever before. She told MPs that funding for the scheme was all that stood in the path of the new national stadium construction.
German bank, WestLB is currently in advanced negotiations with FA subsidiary Wembley National Stadium Limited. A WestLB spokesman described current hold-ups as being, 'certainly not any deal-killers'.