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Rebuilding of Hungary’s Puskás Stadium to cost more than Chelsea FC’s new EUR 577 million home

The new stadium building project of Chelsea FC, one of Europe's leading football clubs, is expected to cost less than the rebuilding of the Puskás Stadium in Budapest, reports 444.hu.

The costs of rebuilding the Puskás Stadium – formerly known as Népstadion, i.e. the Stadium of the People – has currently run up to HUF 190 billion (EUR 613 million). The initial costs of HUF 90 billion were doubled at the end of February, after the withdrawal of Budapest's bid to host 2024 Summer Olympics. The current costs are unprecedented in Europe, especially as the stadium will be built exclusively for football matches, as opposed to the original plans, according to which it was supposed to hold events of about 20 different sports.
By way of comparison, building the new stadium for Chelsea – a professional football club with a highly successful business model – costs "only" Ł500 million or EUR 577 million (HUF 179 billion). However, it is still a gigantic project, which had to be approved by London Mayor Sadiq Khan. Chelsea also agreed to invest Ł 12 million to community projects (such as employment and skills development programmes), as well as to give Ł 3.75 to an urbanistic project that aims to provide affordable housing.
No similar undertakings have been made by the government so far for the development of the area around Puskás Stadium. The new Puskás is going to be one of the venues of the 2020 European Football Championship held in different cities across Europe, provided the construction works will be finished by then.
Source: 444.hu; politics.hu

Last Updated on Tuesday, 14 March 2017 08:51

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