The new Wembley
Cost a lot of money - around £750m, which according to the BBC is roughly 1,000 times the amount the old Wembley cost in 1923. Is this dearer in real terms? Yes, by a long way. Using the RPI (or its predecessors) £750,000 in 1923 has the same purchasing power as £28.5m today. So the new stadium is around 26 times more expensive than the old one in real terms. Even using the GDP as your deflator, the old stadium would now have cost only £215m. So even terms of the UK's much higher income now than in 1923, it was still about three times more expensive.The costs break down something like this:
* £325m to build the stadium
* £120m to buy land
* £50m for improving infrastructure
* £23m for demolition
* £40m for development costs
* £80m in financing costs
Labels: sport
posted by Matthew @ 5/18/2007 03:06:00 PM
Comments: 4
