The security bill for events that were feared to be potential targets for terrorist attack was a major contributor to higher-than-expected running costs.
At a meeting next week, the directors of WNSL are expected to approve extending from 16 to 25 years the £433 million loan taken out in 2002. Under the proposed refinancing agreement, the overall cost of the loan will increase substantially, but annual interest payments will also decrease significantly. The FA is committed to provide £13 million a year to cover losses at WNSL.
Wembley’s schedule of concert events this year is not as busy as last year; this may make it more difficult for the stadium to reduce next year’s losses.
Last summer the stadium hosted a number of concerts, including the tribute to Diana, Metallica, Live Earth and George Michael. This year, the only scheduled concert is by American rock band the Foo Fighters, although another big act is expected to be announced next week.
