Representatives from the London Legacy Development Corporation are to attend a GLA committee hearing tomorrow to discuss the Olympic Stadium’s cost to the public.
David Goldstone, chief executive of LLDC, and Gerry Murphy, executive director of finance and corporate services, will give evidence relating to West Ham United’s move to the ground.
The stadium was estimated to cost £250m in 2004 but the price tag today is £700m. West Ham will pay £15m to take over the stadium, however, the team is thought to only be paying £2.5m in annual rent.
The committee will assess the details of the deal including the length of the contract, who will occupy the ground during football’s off season and what would happen if visitor numbers were to fall in the future.
