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.