Wembley may not be ready for Cup Final

Multiplex has warned that Wembley may not be completed in time for the May 2006 FA Cup Final.

The company said it was working to a revised handover schedule and said there were “material risks” that the stadium may not be handed over in time for the final.

In a statement to the Australian stock exchange Multiplex said that such a delay would lead to significant additional costs.

A spokesman for Multiplex said: "The project is currently tracking to a revised programme which permits progressive handover of the stadium commencing in January 2006, with works substantially completed by the end of March. Some works that are not critical to the operational status of the stadium continue past this date, but still permit the FA Cup final to be played on May 13 2006."

There remains a material risk that these dates will not be achieved and the stadium will not be available for the FA Cup Final.

Multiplex statement

But he said: "There remains a material risk that these dates will not be achieved and the stadium will not be available for the FA Cup final. As previously stated, such delay, if it was to occur, would be likely to lead to significant additional costs, including liquidated damages."

On Monday Multiplex announced to shareholders that profit for 2006 would be 77% lower than previously forecast. It said that problems at Wembley would contribute to an approximate reduction in 2006 profits of £70m.