FA to pay more to Multiplex to finish Wembley

Final details are being put together of a deal between the Football Association (FA) and Multiplex that will speed the completion of Wembley stadium over the next few months.

In an announcement due later this week, the FA will agree to pay £70m to Multiplex in addition to the original agreed fixed price of £458m, but will claw back £35m in compensation for late delivery.

Stung by recent criticisms, the Australian property developer announced last month that in the future it will build its own schemes in the UK only once its current workload is complete. A number of its senior staff are leaving, including Martin Tidd, its md for UK construction.

[Contract Journal, 18 October 2006, p 3]