The new Wembley stadium - the centerpiece of England's bid to host the 2006 soccer World Cup - may be funded in part by a securitization. Investec, the investment bank, is advising Wembley National Stadium on how best to fund the GBP355 million ($574 million) needed to complete the redevelopment. The total cost is expected to be GBP475m, with GBP120m of that sum to be provided by public lottery funds from Sport England.

Andrew Neill of the specialised finance division at Investec says that securitisation is "certainly one of the options that will be explored. Our aim is that we should be deciding on the type of funding by March 31, 2000, with the redevelopment starting by next summer."

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