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[Sir Tigger KC]

Wembley Stadium opened in 2007 and cost £757 million.  In 2018 they have been offered £600 million for it and we are being told its a good deal. 

Is it me?    or do the old farts at the FA need a basic lesson in property development/investment?    

If so I think I'll offer my services as a consultant, as whatever figure that Yank is offering should be followed by nine zeros, not six!   

[BazaJT]

The two figures I heard mentioned this morning were 800 and 900 million so at least the numbers sound to be going the right way.

[Sir Tigger KC]

As I've read it he's offered £600 million for the stadium and will allow the FA to continue to use Wembley as a base for their hospitality business which apparently is worth £300 million.  Hence the £900 million that's being reported. 

They should be making a significant profit on the stadium alone in my opinion.  Especially as public money was put into it, which should be paid back if it's to be sold. 

[BazaJT]

Ah,I hadn't heard about the offer+hospitality bit,just the headline figure-it was the BBC after all-in that case I agree the figure for the stadium alone should be such as to show a profit and then add on the hospitality figure.

[STEMO]

Did the FA pay to have it built?

[Migv6 le Frog Fan]

My understanding is that taxpayers paid for it, or at least most of it. So, they should either have no right to sell it, or should repay taxpayers, with interest, if they do.

[Rods2]

Our balance of payment deficit problem has to be funded somehow and that is why more and more of the UK PLC family silver is being sold off to cover it. Most league football clubs are now owned by people from abroad, likewise much residential and commercial BTL property and much of UK industry.

Selling capital items that produce turnover and profits for the FA at a loss making price and using the proceeds for consumption by giving it to grass roots football with no quantifiable ROI in terms of producing world class players above and beyond the current league club scouting and development systems is as good an example of commercial insanity as I have seen in a longtime. Buy high, sell low to make profits Gordon McRuin & Tony BLiar would be proud.

A good analogy would be to make a quick sale of your house at a loss on the basis that you will invest the proceeds over the next 10 years in lottery tickets, which have no ROI value, but you might strike lucky with a win. How many of you on here think this a good sensible business plan? Apart from STEMO, who would use it to make daily investments at his local bookies.

[Sir Tigger KC]

My understanding is that taxpayers paid for it, or at least most of it. So, they should either have no right to sell it, or should repay taxpayers, with interest, if they do.

From the Daily Mail. 

WHO PAID FOR WEMBLEY STADIUM?

Wembley Stadium opened in 2007 at a cost of £757m after work began to demolish the old ground in 2002.

Funding for the new stadium came from the FA which secured huge loans for the project as well as from Lottery-funded Sport England which paid £120m; the Department for Digital, Culture, Media and Sport which put up £20m with a further £21m coming from the London Development Agency.

In January the FA said it would finally finish paying for Wembley by the end of 2024, 17 years after it opened.

A debt of £142m reportedly remained.