completion date, although it was suggested at the time relocation could happen at the start of the 2002–03 season. Work on the stadium began in the summer of 2001, and by 10 October that year it was confirmed the new stadium would be ready for the 2002–03 season. The stadium was completed on time in the summer of 2002, ready for Leicester to take up residence for the start of the 2002–03 season. However, it was not an easy start at their new stadium as they had just been relegated from the Premier League and were more than £30 million in debt. The stadium is thought to have cost around £37 million to build. Opening The stadium was officially opened by former Leicester striker Gary Lineker on 23 July 2002. He used a giant pair of scissors to cut a ribbon on the pitch after arriving at the stadium in a Walkers lorry. The first game at the new stadium was a friendly against Basque team Athletic Bilbao, on 4 August 2002. The game finished 1–1, with Tiko scoring the first goal at the stadium, and Jordan Stewart scoring Leicester's first goal. The attendance was approximately 24,000 (no official figure was recorded due to a computer problem). The first competitive match took place six days later and Leicester beat Watford 2–0 in front of a near-capacity crowd of 31,022. Brian Deane scored both goals, including the stadium's first in competitive games. Leicester ended the 2002–03 season promoted back to the Premier League, losing just two home games in the season, despite spending the early part of the season in receivership due to their huge debts, until a takeover deal was completed. Ownership The £37 million cost of the new stadium, combined with relegation from the Premiership, the collapse of the English transfer market due to the introduction of the transfer window and the collapse of ITV Digital meant Leicester went into receivership shortly after moving to the new stadium. Birse Construction who had built the stadium therefore lost a large part of their fee, and they withdrew from football ground construction. As part of the deal which brought the club out of receivership, the stadium's ownership reverted to American academic retirement fund TIAA–CREF, who had supplied £28 million via a bond scheme towards the stadium's construction, with the club taking a long-term lease while the bond repayments were made. On