Meridian Delta’s plans (pictured) to turn the Millennium Dome into a sports arena will not be granted planning permission until May 2003.
The Conservative Shadow Culture Secretary Tim Yeo has reacted angrily to the news saying that the delay will cost the public even more money.
A spokesman for the DTLR, the government department handling the deal, said: “Obviously people want to know who picks up the bill in the meantime. At the moment it’s up for negotiation, but we would expect it to be half-and-half between the government and the consortium.”
Although the company expects to sign a joint venture agreement with the government this May, it says that it will take another year to get planning consent.
Under the terms of the 25-year joint venture the government will not receive any money from the consortium until the end of 2004, when Meridian Delta expects to make profit from property development and the sports arena.
EGi News 04/02/01
