Select Committee on Culture, Media and Sport Appendices to the Minutes of Evidence

Annex 24

Fax, 2 March 2001, from the Football Association to Sport England

  Many thanks for your letter of 20 February, which follows our earlier telephone conversation.

  I do however, need to clarify some of the points you make in the letter.

    1.  The FA Board has approved in principle the idea of supporting the revenue guarantees and we are currently undergoing a risk analysis on this to ensure that we can afford it and in what way it should be provided.

    2.  On the issue of a construction guarantee we are hoping to agree with the banks that it is not required. I do not believe the FA would put yet more funds into the project, over and above the revenue guarantees. We are all hopeful that the banks will agree to this.

    3.  With regards to the £20 million payment in respect of Athletics we are all aware that there is no obligation on the FA to pay this, though it currently remains in the plan. This will be discussed further by the FA Board in due course.

  Finally, whilst this is the current situation I am sure that you will understand that there is still much work to be done to bring this project to fruition. It is a huge investment for us and we must be certain that it is in the best interests of football. As you requested I will contact you next week to arrange a follow up meeting.

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