Friday, 19 February 2010

Wembley Stadium refinances loan

Wembley Stadium has refinanced the loan taken out to fund the redevelopment of the English national football stadium.
The deal relates to the remaining loan of £341.5m from a £426.4m financing package secured in autumn 2002.
The stadium, a subsidiary of the FA, said it had secured a more favourable interest rate on debt and extends the term of the loan from 2018 to 2023.
It comes as Wembley emerged as favourite to host the 2011 UEFA Champions League final.
In an effort to lure the final to Wembley, the government has said that players on foreign teams will be exempt from any tax.