Filed: Tuesday, 1st November 2016
By: Staff Writer
The cost of converting the Olympic Stadium for football has risen to an astonishing £323million, according to the new Mayor of London.
Sadiq Khan has ordered an investigation into spiralling costs at the Stratford arena after it was revealed the estimated cost of converting the stadium originally erected for the Olympic Games has risen by an extra £50million.
That's just £67million less than it cost to build Arsenal's entire Emirates Stadium, which also caters for 60,000 supporters, a decade ago - a situation that Khan blamed squarely on his predecessor, Boris Johnson.
"Last year the previous administration told the public that the costs had risen in total to around £270million, deputy mayor Jules Pipe told Sky News. "The new Mayor has now been told that cost will be over £320million.
"Understandably, Sadiq has ordered an investigation as to why those two figures are so wildly different. As the new administration at City Hall clearing up the mess of the previous administration, we need to make sure that the stadium runs on a sustainable basis and it is affordable to London."
One of the main factors behind the hike in coss is that the original contractor for the 'retractable' seating, Alto Seating Solutions, has gone bust. Meanwhile the solution provided is reportedly slow, cumbersome and nowhere near as effective as the Stade De France's 'on rails' retractable seating.
The entire project, which began more than a decade ago when Seb Coe and Tessa Jowell insisted on a permanent athletics legacy for the stadium has risen to more than £750million - just £39million less than the Millennium Dome whiohc was reportedly sold for just £1 to Anschutz Entertainment Group (AEG) in 2001.
Chelsea fan Coe was knighted in the 2006 New Year's Honours and appointed to the Order of the Companions of Honour in 2013 for services to the 2012 Games.
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