World's Most Expensive Stadiums
Just as the Olympics occurring every two years is a sure thing, so is the fact that each new stadium construction project is seen as an opportunity to outdo everyone else. Beijing National Stadium, the centerpiece of this summer's 2008 Olympics, is packed with restaurants, bars and stores to service an estimated half a million spectators throughout the course of the games. Designed by famed Swiss architecture firm Herzog & de Meuron, the stadium has been nicknamed the "Bird's Nest" for its distinctive, sweeping exterior support structure.
But the stadium is on the lower end in terms of of cost, at a bargain-basement $500 million--not even enough to make our list of the ten most expensive stadiums in the world. And a higher price tag wouldn't necessarily be a good thing, either. While bigger budgets can create stadiums that attract attention and leave a lasting impression, they can also leave decades of debt.
Montreal's fiscally controversial stadium for the 1976 Olympics, for example, has been racking up interest payments for years, and was finally paid off only in 2006. The total price tag, adjusted for today's dollars, was $1.4 billion, with more than $900 million of that being interest. But that's still not enough to top our list of the most expensive stadiums in the world.
That title goes to London's new and improved Wembley Stadium, which opened in 2006 and cost a staggering $1.5 billion. However, the Brits are getting quality for their quid, unlike Montreal's stadium, which has been essentially unused since the Expos headed to Washington, D.C., to become the Nationals. Wembley already hosts the English national soccer team, and, last fall, it hosted England's first regular-season NFL game. In 2012, Wembley will also host the Olympic soccer tournament.