Welsh fans enjoying an international weekend

Owner the Welsh Rugby Union (WRU) says it wants the benefits the "iconic" stadium has brought to the city and Wales since 1999 to be recognised.

It commissioned a report to highlight its �725m worth to the economy.

Cardiff Council, which does not set the venue's business rates, said it had helped the WRU land the maximum rebate.

The WRU said it wants the Welsh Assembly Government and Cardiff Council to reflect its contribution.

The WRU said it was not seeking "any handouts" but the findings of an independent report it commissioned would be used as an argument for the benefits the stadium brings to be recognised.

Currently the Welsh Rugby Union holds all the risks and the liabilities while much of the reward is enjoyed by the wider community Roger Lewis, WRU

It said it was launching a dialogue with important stakeholders to establish what would be a "fair and realistic financial recognition" of its iconic status and financial contribution.

The priority, said the WRU, was to ensure the stadium continued to flourish and develop in its location at the centre of the city.

Group chief executive Roger Lewis said: "The stadium is recognised around the world as an iconic and modern image of Wales.

"We all know it is at the heart and soul of Welsh rugby, but the magnificent Joe Calzaghe unification world title fight at the weekend proved how it works so well as a multi-event stadium.

He said: "We say to the Welsh Assembly Government and Cardiff City Council - this is our present to you, we've done the work, we've invested in the report, we've paid for the analysis.

"Now here this is something for you to pick up, the ball for you to pick up with and run because this will generate even more money for Cardiff and for Wales, if you're prepared to back it."

STADIUM SURVEY FINDINGS �105m generated each year for Welsh economy �88m of that spent in and around Cardiff each year That income helps support the equivalent of 2,400 jobs each year More than 9m visitors to the stadium in seven years Attracts far more visitors than any other Welsh tourist attraction In the top 10 tourist attractions in the UK Source: Welsh Rugby Union report

The stadium has become well known for staging pop and rock concerts. It also staged the FA Cup final between 2001-2006, as well as other major football events while Wembley was rebuilt.

"The stadium is a jewel in the crown of Wales and the UK as a whole and we believe it is fair for that status to be properly recognised and acknowledged," said Mr Lewis.

"Currently the Welsh Rugby Union holds all the risks and the liabilities while much of the reward is enjoyed by the wider community.

Mr Lewis said the "clear and favoured option" was to align the stadium's development to Cardiff Council's strategic plans for the development of the city centre.

The WRU said a "fair reflection" of the stadium's iconic and financially beneficial status to Wales would be to remove its rate burden entirely, and it suggests a dialogue on the issue.

It would also allow instead for a proper level of investment on its land around the stadium, including developing conference facilities, hotels, bars, restaurants and possibly even a rugby hall of fame museum.

The assembly government has been asked to comment.

In a statement, Cardiff Council said it had worked in partnership with the WRU and the stadium for 10 years to ensure the venue was built and its bids for major sporting events were successful.

It read: "Another important part of the support we show to the stadium is with the many events they hold by ensuring the necessary infrastructure such as park and ride, street cleansing and enforcement are all in place at a considerable cost to the council purse."