The most telling information in the Football Association’s recently published 2010 annual report and financial statements comes on page 24 of the 42-page document.
This tells us that, for all the pain and hard work that went into driving up the body’s overall financial performance, stadium and non-FA event management remained heavily in loss – to the tune of £12.1 million ($18.9 million/€13.9 million) at the pre-tax level, against £15.6 million ($24.4 million/€ million) in 2009.
In other words, the new Wembley stadium remains a costly indulgence.