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FA to make savings of at least £12m a year after refinancing Wembley Stadium debt

Football - Secured a debt refinancing with creditors - SantanderCB

Football Association chief financial officer Andrew Crean has revealed that the organisation has secured a debt refinancing with creditors Santander, HSBC and Barclays for Wembley Stadium, resulting in savings of at least £12m a year. The new loan facility means that revenues from the stadium will begin to be redistributed throughout the game rather than going towards repayments. Crean said the new financing arrangements, which allow for a facility of £300m, of which £225m will be drawn down, affords the FA more financial room for manoeuvre.

 

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