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Wembley reports £31m pre-tax loss

By Pete Hayman    02 Nov 2009

Wembley Stadium's owners have posted pre-tax losses of £31m for the year ending 31 December 2008, despite reporting an operating profit of £5.9m compared with the previous year.

However, Wembley National Stadium Limited (WNSL) incurred interest payments totalling £26.2m and a further £10.8m in bank fees, which has pushed the company into the red for the year. The company now plans for Wembley Stadium to break even within the next five years after seeing a £13.1m decrease in total losses to £23m in 2008 compared with the previous year.

Since opening in 2007, nearly six million people have visited the venue, which has hosted 34 events since March 2009 - including the FA Cup Final, England home internationals and a range of music concerts. WNSL chair David Bernstein said: "I believe that 2008 will be seen as a watershed year in our history as the stadium reclaimed its place on the world events circuit.

"I am confident that 2009 will further underline the status of Wembley as one of the world's premier venues, catering to all ages and tastes."

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