Wembley Stadium Owner May Break Terms: Sunday Times
(Corrects headline to state owner of Wembley Stadium may break loan terms.)
The owner of London’s Wembley Stadium said a big slide in income or a delay in large payments may force it to break terms of bank loans, the Sunday Times reported, citing accounts filed by Wembley National Stadium Ltd.
The company’s cost of building the facility, home of England’s soccer team, saddled it with 367 million pounds ($592 million) of debt and 21.4 million pounds of interest owed in 2011, the newspaper said. Record revenue of 99.6 million pounds yielded pretax profit of 83,000 pounds, a result enhanced by a refund from the local municipal council, the paper said.
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