supporting Arsenal. A campaign directed by the Independent Arsenal Supporters' Association brought relative success as only a third of all bonds were sold. The North Bank was the final stand to be refurbished. It opened in August 1993 at a cost of £20 million. The rework significantly reduced the stadium's capacity, from 57,000 at the beginning of the decade to under 40,000. High ticket prices to serve the club's existing debts and low attendance figures forced Arsenal to explore the possibility of building a larger stadium in 1997. The club wanted to attract an evergrowing fanbase and financially compete with the biggest clubs in England. By comparison, Manchester United enjoyed a rise in gate receipts; the club went from £43.9 million in 1994 to £87.9 million in 1997 because of Old Trafford's expansion. Arsenal's initial proposal to rebuild Highbury was met with disapproval from local residents, as it required the demolition of 25 neighbouring houses. It later became problematic once the East Stand of the stadium was granted Grade II listing in July 1997. After much consultation, the club abandoned its plan, deciding a capacity of 48,000 was not large enough. Arsenal then investigated the possibility of relocating to Wembley Stadium and in March 1998 made an official bid to purchase the ground. The Football Association (FA) and the English National Stadium Trust opposed Arsenal's offer, claiming it harmed England's bid for the 2006 FIFA World Cup, which FIFA itself denied. In April 1998, Arsenal withdrew its bid and Wembley was purchased by the English National Stadium Trust. The club however was given permission to host its UEFA Champions League home ties at Wembley for the 1998–99 and 1999–2000 seasons. Although Arsenal's time in the competition was brief, twice exiting the group stages, the club set its record home attendance (73,707 against Lens) and earned record gate income in the 1998–99 season, highlighting potential profitability. Site selection and development proposals In November 1999, Arsenal examined the feasibility of building a new stadium in Ashburton Grove. Anthony Spencer, estate agent and club property adviser, recommended the area to director Danny Fiszman and vice-chairman David Dein having scoured over North London for potential areas. The land, from Highbury was composed of a rubbish processing plant and industrial estate, 80% owned to varying levels by Islington Council, Railtrack and Sainsbury's. After passing the first significant milestone at Islington Council's planning committee, Arsenal submitted