IN THE MONEY: Has Wembley lost it’s lustre? Sales for VIP seats have dropped by £36.5million
A sold-out Wembley will set a record attendance for a women’s football match in the UK today, when Chelsea play Man United in the FA Cup final – but the stadium’s finances are not so good.
A significant drop in demand for VIP seats at the National Stadium has seen sales drop by £36.5 million since 2017. The FA is now facing an ongoing financial black hole to cover the costs of running Wembley, which posted a £19.6 million loss last season despite the post-Covid return of fans and a packed calendar.
A major factor in the losses was the drop in Club Wembley membership sales. Just last month, rows of empty seats, including VIP areas, were spotted at the FA Cup semi-final as Man City beat Sheffield United.
Until a few years ago, Club Wembley tickets were practically sold out. Now there are plenty of packages available for all six sections of Club Wembley, with prices ranging from £2,466 a year to £40,000 plus for a private box.
Tickets include guaranteed seats to all senior England men’s internationals at Wembley, the Emirates FA Cup semi-finals and final, the Carabao Cup final and the FA Community Shield.
The statistics show that luxury Wembley tickets are losing their consumer appeal
Club Wembley’s revenue peaked at £58.2m in 2017 but fell to less than £40m a year in 2018 and 2019
They also offer priority tickets to the EFL playoff finals, music concerts and one-off events including boxing and NFL matches.
A Mail on Sunday investigation found Club Wembley’s revenues peaked at £58.2 million in 2017, but fell to less than £40 million in 2018 and 2019, before the pandemic hit.
Club Wembley seats were mostly sold in 10-year packs when the new Wembley opened in 2007 and those deals ended in 2017. The resale process revealed a decline in interest.
The number of Club Wembley seats was reduced by 4,000 in 2017 due to falling demand, reducing capacity to 10,000.
Last season, Club Wembley generated a turnover of £21.7 million, representing a 62 per cent drop since the capacity reduction.
FA officials say they have been bolstered by the acceptance of Club Wembley packages since the pandemic and expect revenues to rise in the next set of bills.
An FA spokesman said: ‘Club Wembley has recovered very well from the impact on the hospitality sector due to the global pandemic and the recent cost of living crisis.
“It continues to provide visitors with a unique opportunity and experience to watch world-class sporting and entertainment events at the National Stadium.
“We are working hard to ensure that our prices for Club Wembley tickets reflect the current market for premium hospitality events, and the vast majority of Wembley Stadium tickets are available at reduced general admission prices.”
DERBY ADMINISTRATION COSTS £18.8M UNPAID TAXES
The Derby County administration has cost HMRC £18.8 million in unpaid taxes, new reports have confirmed.
The taxpayer was owed £25,048,000 by the club before they fell to former owner Mel Morris in September 2021.
However, club trustees paid just 25 pence in the pound shortly after County was sold to local property developer David Clowes last year. Paperwork published this week confirmed that HMRC was forced to take the 75 per cent cut and received only £6,264,000, leaving a shortfall of £18,784,000.
Morris agreed to write off £123.4 million owed to him by the club. The transfer embargo has in any case been lifted after two years.
Reports confirmed Derby County administration has cost HMRC £18.8 million in unpaid taxes
GREAT INTEREST IN EVERYTHING RASHFORD
Manchester United star Marcus Rashford’s stellar performance is reflected in his off-field decisions, which saw the value of two of his companies triple to £33 million last year.
The striker – with 29 goals in all competitions this season – is proving to be just as keen on his business deals.
The 25-year-old saw the assets of his image rights company MUCS Enterprises Ltd reach £20.9m last year, a jump of £11.5m.
The company is holding money that the striker earns from lucrative sponsorship deals with the likes of Nike, plus image rights payouts from United and England. This amount includes £11.6 million in cash.
Meanwhile, the £200,000-a-week striker has seen his property investment company’s assets rise from £3.5m to £9.8m last year.
Marcus Rashford’s performance was reflected in his off-field decisions as his two companies tripled in value to £33m last year
MUCS Properties Ltd manages the star’s 11 investment properties, worth £6.5 million together. It has also built up cash reserves worth £3.3 million.
Burnley boss Vincent Kompany has also confirmed that Manchester is booming for investors in football players.
Kompany has amassed a fortune of £55 million, mainly thanks to smart investment in real estate, mainly commercial properties around Manchester.
His assets include £14 million in Nubis Rock Real Estate Limited, £14 million in One Silk Street Limited and a further £6.6 million in another real estate company called M4nchester Three Limited.