“Building and opening the Millennium Dome on the very short timescale required was a tremendous achievement. But the New Millennium Experience Company has experienced severe financial difficulties this year and has required considerable additional lottery funding.
“The main cause of these difficulties is the failure to achieve the visitor numbers and income required. The targets were highly ambitious and inherently risky leading to a significant degree of financial exposure on the project. In addition, the task of managing the project has been complicated by the complex organisational arrangements put in place from the outset, and by the failure to establish sufficiently robust financial management.”
9 Nov 2000