The deal to give away the Millennium Dome to Meridian Delta has suffered an unexpected delay, reports The Times.
Lattice wants an immediate £45m windfall to cover its share of the increased value of its former gasworks site where the venue now stands, the newspaper says.
However, the Financial Times and The Independent maintain Lord Falconer is expected to announced a deal to give the Millennium Dome to Meridian Delta today.
The Financial Times quotes a Meridian insider who said the taxpayer would continue to foot the cost of maintaining, securing and insuring the Greenwich, south-east London, venue until planning permission was given.
This could take at least 18 months.
The newspaper says the minister in charge of the Dome is expected to say the property consortium will turn the Dome into a sports and entertainment arena surrounded by homes and offices.
Meridian will not pay anything for the 999-year lease of the structure and the surrounding land initially.
It will pay for the land in tranches as it is developed. The government will receive half the profits once the property is sold to occupiers.
The taxpayer will get a share of the profit from the arena which is due to open at the end of 2005.
Financial Times 29/05/02 page 4
The Times 29/05/02 page 2, page 24 (Commentary)
The Independent 29/05/02 page 6, page 15 (Analysis)
