They think it's all over for Wembley plan

Press reports are suggesting that plans for the new Wembley national stadium are on the brink of collapse after four troubled years on the drawing board. The Wembley National Stadium, the FA-backed company behind the project, has demanded up to £150m from the government to save the project. With costs spiralling to £700m, raising the debt finance with City institutions is impossible if the government fails to underwrite the project. To add to the troubles, Sport England is said to be seeking legal action following its £120m contribution to the purchase of the site. The FA agreed to return £20m to Sport England to compensate for the lack athletics following Culture Secretary Chris Smith's decision that the new stadium would be a football-only venue. The money has not yet been paid. WNS, the FA and government ministers will hold talks this week to try and save the development. If current plans are scrapped, football chiefs will be left with three options; refurbish the existing stadium, currently awaiting demolition; abandon plans for a permanent home of English football and rotate major games at club venues; or go back to the drawing board for a new all-encompassing national sports stadium.