Football
9y

Olympic Stadium costs increase by £35.9m as LLDC agrees to foot bill

The London Legacy Development Corporation (LLDC) will pay a further 35.9 million pounds needed to help complete renovation of London's 2012 Olympic Stadium rather than future tenants West Ham.

Reports emerged on Monday confirming builders Balfour Beatty had asked for extra money to fund the closing stages of the project. The stadium is due to become a new home for the Hammers at the start of the 2016-17 season.

And the LLDC announced in a statement on Wednesday that the 154 million-pound contract Balfour Beatty signed in January has now been increased to 189.9 million pounds due to the soaring costs of installing the world's "largest single-span cantilever roof."

The statement added that the extra money will come from "the project contingencies and additional income we [the LLDC] will generate from our other developments."

While taxpayers' money already accounted for will be used, the LLDC said it anticipates "no additional call on the taxpayer and no impact on our current programme."

With the cash flow issue with builders not related to making the stadium fit for Premier League football and West Ham, the East London club have not been asked to foot the bill for the extra investment.

The total costs of the stadium now top 600 million pounds and the LLDC says work will be completed in time to stage five matches at the 2015 Rugby World Cup.

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