The Emirates Stadium (known as Arsenal Stadium for UEFA competitions) is a football stadium in Holloway, London, England. It has been the home stadium of Arsenal Football Club since its completion in 2006. It has a current seated capacity of 60,704, making it the fifth-largest football stadium in England by capacity. In 1997, Arsenal explored the possibility of relocating to a new stadium, having been denied planning permission by Islington Council to expand its home stadium, Highbury. After considering various options (including purchasing Wembley Stadium), the club bought an industrial and waste disposal estate in Ashburton Grove in 2000. A year later, they received the council's approval to build a stadium on the site; manager Arsène Wenger described this as the "biggest decision in Arsenal's history" since the board appointed Herbert Chapman. Relocation began in 2002, but financial difficulties delayed work until 2004. Emirates was later announced as the main sponsor for the stadium. The entire stadium project was completed in 2006 at a cost of £390 million. The club's former stadium was redeveloped as Highbury Square, an apartment complex. The stadium has undergone a process of "Arsenalisation" since 2009 with the aim of restoring visible links to Arsenal's history. The stadium has hosted international fixtures and music concerts. History Background Spectator safety at football grounds was a major concern during the 1980s, following incidents of hooliganism, and disasters such as the Bradford City stadium fire and the Heysel Stadium disaster in 1985, and the Hillsborough disaster in 1989. The Taylor Report into the Hillsborough tragedy was finalised in January 1990 and recommended the removal of terraces (standing areas) in favour of seating. Under the amended Football Spectators Act 1989, it became compulsory for first and second tier English clubs to have their stadia all-seated in time for the 1994–95 season. Arsenal, like many other clubs, experienced difficulty raising income for converted terraced areas. At the end of the 1990–91 season, the club introduced a bond scheme which offered supporters the right to purchase a season ticket at its renovated North Bank stand of Highbury. The board felt this was the only viable option after considering other proposals; they did not want to compromise on traditions nor curb manager George Graham's transfer dealings. At a price of between £1,000 to £1,500, the 150-year bond was criticised by supporters, who argued it potentially blocked the participation of those less well-off from