Even with freebies taking the numbers up, the venue – with its capacity of 19,000 – is going to be pretty empty.
And the financial cost to the party will be huge.
But the plan was never to make money anyway. The idea, backed by figures including Karie Murphy, was to put on a show of political strength. Even if the business plan for the party had been met and something north of 15,000 full price £35 tickets had been sold (with the rest going as discounted or free), the party banked on losing £100,000.
The leadership had even wanted the loss to be greater – with tickets going for just £15. All based on a sell out event, of course.
A senior Labour source said: “The loss now will be magnified not just by lost sales but also by the loss on volume sales of drink and food. In short it is going to be a financial disaster.
“Politically, though, the costs could be greater still. The only upside would be if it made some in the leadership abandon their belief that all they have to do is wait for the inevitable collapse of May and they will sweep to power. What are the chances of that?”