Select Committee on Culture, Media and Sport Appendices to the Minutes of Evidence


Further supplementary memorandum submitted by Wembley National Stadium Limited


  A slip of the tongue by Bob Stubbs inadvertently overstated French Government financial support for the Stade de France.

  A recent State Auditors report into the hosting of the World Cup gave the total cost of the Stade de France project (from published figures) as 570mdf (an approximate equivalent of £570 million) of which the French State's contribution was 420mdf This was broken down as 250mdf direct from central government, 125mdf from local authorities and 45mdf from public enterprises.

  WNSL has undertaken considerable work on comparable costs between the development of stadia across the world. By the reckoning of our quantity surveyors, Franklin and Andrews, building inflation in the period from completion of the facilities associated with the stadium (November 1997) and the present day (to December 2000) is 17.5 per cent. Applying the same percentage to the total investment gives a December 2000 cost of 669.75mdf and a Government input 493.5mdf.

  Further adaption to the Wembley Stadium development timetable (inflation costs included up to the end of 2004 at a total of 7 per cent) would bring costs up to 716.6mdf (Government investment 528mdf).

  This figures includes the cost of transport infrastructure but not, as far as can be ascertained, land costs, company costs, financing charges or contingencies.

  The relevant section of the French State Auditors Annual Report is enclosed.[17]

March 2001

17   Not printed. Back

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