World Sports Congress: Financing Stadia
Richard Cheesman joins international panel at the World Sports Congress
Richard Cheesman will join an international panel of leading stadium finance experts at the World Sports Congress in London on 26th-27th February 2013 to discuss the difficulties and challenges surrounding the financing of stadium projects. Richard has been invited to join the panel to share his expertise in the project finance market and experience from many stadium projects such as Wembley Stadium where Richard was part of the team that led the £426m debt financing.
The panel will be moderated by Michael Cunnah, former CEO of Wembley Stadium, and will focus on some of the most pertinent areas of the current market including the lack of traditional project finance, the need for robust business plans backed by comprehensive market research that is provided by ISG's in-house stadium research Comperio Research, which was responsible for the research that enable the financing of Wembley Stadium, and, although there are many similarities between each project (for example the need to plan in advance of designing the stadium in order to create the optimal long term predictable revenues streams which are crucial to provide a return on the upfront cost of the facility), the different approaches each stadium requires.
The panel will also discuss the requirement for all stadium projects to optimise the potential profitability of a stadium and how for government financed projects (such as stadia for FIFA World Cups, UEFA European Champions or the Olympic Games) this is the only way to create a true legacy for the major events and hence treat the stadium as an investment and not a cost.
Other speakers at the Congress include Roger Maslin, CEO of Wembley Stadium, Mark Pannes, CEO of AS Roma and Kirsten Nematandi, President of the South African Football Association.