Losses of £40m for Wembley Stadium
Wembley Stadium lost £40 million in its first year of operation.
The national stadium made an operating loss of £22 million and the interest on an outstanding loan of £346 million, pushed those losses up.
FA chairman Lord Triesman wants to address the losses by refinancing the loan taken out to build the stadium.
An FA source said: "Staffing costs will be lower in the future and we will claw all that money back."
It has been suggested that Michael Jeffries, the chairman of Wembley National Stadium Ltd, the wholly-owned subsidiary of the FA, may tell board members that he intends to stand down.
The FA has signed a record £425 million TV contract with ITV and Setanta, which begins next season.
© Independent Television News Limited 2008. All rights reserved.
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