West Ham’s Olympic Stadium Deal Collapses
West Ham’s deal to move into the Olympic Stadium following London 2012 has collapsed, according to multiple sources, with an official statement expected later today.
All indications are that the board of the Olympic Park Legacy Company (OPLC) have ended negotiations with West Ham in the face of the ongoing legal challenge from rival bidders Tottenham Hotspur.
Both Spurs and Leyton Orient are contesting a £40 million loan to West Ham from Newham Council that is central to the Championship club’s plans – with another mystery complaint also hanging over the deal.
The BBC reported: ‘Spurs are seeking a judicial review of the decision and the next hearing at the High Court was due to be held next Tuesday. But to complicate matters further, an anonymous complaint was made to the European Commission last week which could have meant even further delays.’
The stadium is now expected to remain in public ownership. It is thought its capacity will be reduced from 80,000 to 60,000 seats after the Games, and an anchor tenant will be sought. Their expected seven-figure annual rent will go towards the operating costs of the venue.
The row has overshadowed London’s bid to host the 2017 World Athletics Championships, which is facing rivals Doha.
West Ham United vice-chairman Karren Brady confirmed today that the football club still hope to move to the Olympic Stadium in 2014.
