FA refinances Wembley Stadium
The Football Association has agreed a £300m loan facility with three leading banks enabling it to refinance Wembley Stadium. The loan will give the FA more flexibility and enable it to reduce interest payments.
It looks as if the present low interest rate environment will continue much longer than expected with a rise in the Bank of England rate not expected until next spring at the earliest, and then a very small one. There are concerns about reduction in growth rates in the emerging economies, especially China, which have kept the world economy going since the financial crisis.
This gives football organisations and clubs a chance to reduce the amount they spend on interest payments.