After failing to win financial support from the City for the Sir Norman Foster/Mott Macdonald-designed 80,000 seater Wembley National Stadium, developer Wembley National Stadium Ltd will not now launch a new bid for project finance until after the general election. The developer said the Football Association has agreed to increase its equity stake in the scheme at the same time as turning financial guarantees into cash.
Wembley National Stadium Ltd is looking for ways to reduce investors' risk. Construction cost will be £326.5M. Total project cost is expected to be in the region of £600M.
You might also like...
Developer banned over missing Northampton stadium cash
The property developer behind the incomplete Northampton Town football stadium redevelopment has been banned from running companies for a decade.
Heathrow Southern Rail and DfT at loggerheads about track access
Plans for a southern access rail link into Heathrow are stalling because the Department for Transport (DfT) is unable to agree track access arrangements, New Civil Engineer can reveal.
Carillion collapse | State of industry one year on
It is 12 months to the day since Carillion entered liquidation, which saw 20,000 jobs lost and the pensions of nearly 30,000 staff and former employees compromised. And ever since, the search for “the next Carillion” has captivated the imaginations of the nation.
Crossrail delay to cost £2bn
The cost of the Crossrail delay is likely to be between £1.6bn and £2bn according to the emerging findings of an independent review by accountancy firm KPMG.
Have your say
You must sign in to make a comment
Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Please note comments made online may also be published in the print edition of New Civil Engineer. Links may be included in your comments but HTML is not permitted.