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| The real price of stadia ![]() The cost to build a new Wembley may soar to �660m By BBC Sport Online's Saj Chowdhury As Wembley is proving, new ideas come with a price - and a hefty one at that. The estimated cost of the new Wembley Stadium has spiralled to an estimated �715m. If talks between the Football Association and the government find a way to meet the costs, then the structure will become one of the most expensive venues in the world. The proposed arena is expected to hold 90,000 spectators and will feature state-of-the-art facilties - a sliding roof, 23 escalators to replace the dilapidated steps and 2,000 toilets, which will help with the queues at half-time. But why has the initial cost of �200m risen so dramatically? Additional costs According to Wembley National Stadium's communications manager Chris Palmer, the current figure being bandied about is a misleading one. "People are assuming that the �660m is the cost of the stadium, whereas the cost of the actual stadium is just �326.5m," said Palmer. "The �660m figure is the cost we show to the banks so that they know that we can finance that amount should we need to." Of course, they may have to. Even though �326.5m will fund the cost of the arena, there are additional sums, such as the cost of buying the site - which will amount to �103m cash. Then there is the sum of �17m in stamp duty. So, the total amount is now at �446.5m - so far so good. But then there are the construction costs, like the labour and the fee architects HOK will require for designing the new arena. Groundkeeping equipment needed to preserve the 'new' turf, the hire of new staff, plus costs to promote the new stadium along with a 200-bed Hilton hotel, two banqueting halls and a visitor attraction centre will take the sum nearer to the �660m figure. So how do Wembley's rapidly-rising estimates compare to other recent stadium projects? Here, BBC Sport Online breaks down the cost of living the high life: New York Yankees - Manhattan - to be finalised
The New York Yankees, who are currently involved in a battle-royale with neighbours New York Mets in the World Series, are planning to build a US$1bn (about �687m) stadium on the west side of Manhattan. There are legal wrangles involving the club's owners and the state. Bell Pacific Park - San Francisco Giants
The San Francisco Giants moved into the modest �175m Bell Pacific Park, this year. The 42,000-seater baseball stadium (the old 3Com Park held 63,000) was built with the help of private financing from naming rights and a �100m loan secured by the Giants. It was the first Major League arena to be built solely with help of private backing. Stade de France - Paris
Around �260m was spent on the setting for the 1998 World Cup final - the Stade de France. However that sum rose to over �480m, financed out of public funds, after the costs for its implementation, the planning work around the site aimed at facilitating its servicing and integration in the urban network of the Plaine-Saint-Denis were included. Stadium Australia - Sydney
Despite the fact that the 110,000-seater Stadium Australia in Sydney (the Olympic Stadium) cost an initial �260m, it is now estimated that over �80m will be spent to knock down sections and remove the track to accommodate sports such as Aussie-rules football and rugby league. Those examples show that while Project Wembley may well be an innovative and ambitious architectural showpiece, it may, like the similarly grand Millennium Dome, be a costly one. |
See also: 25 Oct 00 | Business Internet links: The BBC is not responsible for the content of external internet sites Top Wembley stories now: Links to more Wembley stories are at the foot of the page. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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