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FORUMS > Hull FC > Wembley my god there selling it!
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Quote: Chris71 "Problem was the new stadium went way way over budget and cost far more than its probable (or real) value. ATEOTD it will only be worth what someone is willing to pay in terms of a structure plus the value of the land it sits on.

The land will no doubt have gone up in value due to development in and around the area and will continue to do so but the value of the stadium will probably remain fairly static or indeed decrease due to limited use of facility and the running & upkeep costs associated with such.

The simple reason the FA will be looking to offload is that they simply can not afford to pay for it.

Wembley for me lost all its tradition and feel when they demolished the twin towers, that for me was a sign the FA didn't give a knack about history and tradition when they sold out the sole of the place. So no wonder they are willing to sell it now.'"

From what I have read, they can't realistically sell it. Would have to be signed off by the government. Can you imagine if a UK businessman tried to buy Soldier Field in Chicago... there would be riots!

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Quote: Chris71 "There'll no doubt be something in to say any monies paid from government & lottery type funding would have to be paid back if sold within a time period or sold at all. That said its still owned by the FA and as such will be their decision the government may not even have a say apart from along the lines of 'in the national interest blah blah blah'

I don't imagine that Shahid Khan is buying it for just purely for an NFL fanchise more likely for the status of owning Wembley and he see's an opportunity to capitalise on owning it.'"

They have to pay back £127m, but selling Wembley shows the "class" of the FA Am sure the remainder will be divided equally between the relevant "good causes"...

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Don't know what the fuss is. First if Khan buys it he will surely want will want to see it being used for more than a handful of NFL games. And if he doesn't want the CC final its not as if that's the end of the competition, there are other venues around the country and they managed well enough when Wembley was being rebuilt.

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The 'new' Wembley Stadium may be pretty soulless and the area around it a cultural desert but it's the home of the Challenge Cup final and the competition and the sport in general will be poorer should it move to a new location. When you win a semi final you sing about going to Wembley, not about going to a final.

Hopefully a potential new owner will not mean the final has to move.

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Quote: PCollinson1990 "They have to pay back £127m, but selling Wembley shows the "class" of the FA Am sure the remainder will be divided equally between the relevant "good causes"...'"


THe whole point of selling it is due to the financial cost of servicing the debt. Hence, with the sale proceed s they would pay off the debt

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Quote: Mild mannered Janitor "THe whole point of selling it is due to the financial cost of servicing the debt. Hence, with the sale proceed s they would pay off the debt'"

The FA have been totally useless if they haven't managed to service the debts since Wembley way completed and subsequent land sales were made. I was at Wembley about 8 weeks ago, the areas around it are a building site, the FA owned most of that land.

36 posts in 3 pages 
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Subscribe | Moderators: Admin, Kosh , Roland_R , Karen
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Subscribe | Moderators: Admin, Kosh , Roland_R , Karen



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