<P> Actual construction of the stadium began once Arsenal secured funding . The club appointed Sir Robert McAlpine in January 2002 to carry out building work and the stadium was designed by Populous, who were the architects for Stadium Australia and the redevelopment of Ascot Racecourse . Construction consultants Arcadis and engineering firm Buro Happold were also involved in the process . </P> <P> The first phase of demolition was completed in March 2004, and two months later, stand piling on the West, East and North stands had been concluded . Two bridges over the Northern City railway line connecting the stadium to Drayton Park were also built; these were completed in August 2004 . The stadium topped out in August 2005 and external glazing, power and water tank installation was completed by December 2005 . The first seat in the new stadium was ceremonially installed on 13 March 2006 by Arsenal midfielder Abou Diaby . DD GrassMaster was selected as the pitch installer and Hewitt Sportsturf was contracted to design and construct the playing field . Floodlights were successfully tested for the first time on 25 June 2006, and a day later, the goalposts were erected . </P> <P> In order to obtain the licences needed to open, the Emirates Stadium hosted three non-full capacity events . The first "ramp - up" event was a shareholder open day on 18 July 2006, the second an open training session for 20,000 selected club members held two days later . The third event was Dennis Bergkamp's testimonial match against Ajax on 22 July 2006 . The Emirates Stadium was officially opened by Prince Philip, Duke of Edinburgh on 26 October 2006; his wife Queen Elizabeth II had suffered a back injury and was unable to carry out her duty . Prince Philip quipped to the crowd, "Well, you may not have my wife, but you've got the second-most experienced plaque unveiler in the world ." The royal visit echoed the attendance of the Queen's uncle, the Prince of Wales (later King Edward VIII) at the official opening of Highbury's West Stand in 1932 . As a result of the change of plan, the Queen extended to the club the honour of inviting the chairman, manager and first team to join her for afternoon tea at Buckingham Palace . Held on 15 February 2007, the engagement marked the first time a football club had been invited to the palace for such an event . </P> <P> Interest on the £ 260 million debt was set at a commercial fixed rate over a 14 - year period . To refinance the cost, Arsenal planned to convert the money into a 30 - year bond financed by banks . The proposed bond issue went ahead in July 2006 . Arsenal issued £ 210 million worth of 13.5 - year bonds with a spread of 52 basis points over government bonds and £ 50 million of 7.1 - year bonds with a spread of 22 basis points over LIBOR . It was the first publicly marketed, asset - backed bond issue by a European football club . The effective interest rate on these bonds is 5.14% and 5.97%, respectively, and are due to be paid back over a 25 - year period; the move to bonds has reduced the club's annual debt service cost to approximately £ 20 million a year . In September 2010, Arsenal announced that the Highbury Square development--one of the main sources of income to reduce the stadium debt--was now debt free and making revenue . </P>

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