FA to bank millions as Chelsea and Spurs negotiate deal to share stadium
The FA are set to bank around £55million from Chelsea and Spurs by negotiating deals that would see the two London clubs share Wembley stadium from 2017-18.
The negotiations for the clubs to share the ground are continuing, with Chelsea needing three-years to build a new 60,000 seater stadium, and Spurs need to move for a least one season, possibly two, as they build their new 61,000 stadium, that will also host NFL games as part of the expanding UK franchise.
The FA will expect to bank £11million a year from each club, bringing it all to a total of £55million.
It’s thought that Spurs are prepared to ground-share with their Premier League rivals, but Chelsea aren’t so keen. If it doesn’t go ahead, the FA would miss out on additional revenue, with Spurs also considering Milton Keynes and the Olympic Stadium as alternatives.
A chief executive Martin Glenn admits it is possible both clubs could play at Wembley without overlapping and there are no restrictions to how often the stadium is used when the capacity is restricted to 50,000.
FA £50m windfall from the two clubs would soften the blow if there are shortfalls from the sale of the 17,500 corporate seats, which expire in 2017.
Statement
Speaking at Soccerex recently, Glenn said: ‘We are there to provide help. We can run the FA for less costs and we can raise more. There’s a range of things. Wembley is primarily a football stadium; football matches are more profitable to run than concerts and other things.
‘It’s in our interest for clubs to redevelop their grounds, make superb facilities and if it’s possible to help them in that transition by using Wembley, we are absolutely supportive of that.’
By Ben Kelly – @benkelly_10
