Wembley loss

25 April 2008

Australia: Multiplex expects to make a loss of AU$ 251 million (US$ 186 million) on the construction of Wembley Stadium in London, UK. The Australian contractor is building the stadium for an agreed fixed price of UK£ 445 million (US$ 778.4 million). However, disputes with sub-contractors, most notably steel erector Cleveland Bridge, have lead to losses of time and money. The stadium was due to be handed over in time for the FA Cup final – the highlight of the UK soccer season – on 13 May, however, the event has been transferred to Cardiff's Millennium Stadium because Multiplex cannot guarantee Wembley will be ready.

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