The Olympic Stadium: it's ours

  • by Staff Writer
  • Thursday, 29th November 2012

West Ham are set to be named as the preferred bidder for the Olympic Statement next week, according to reports this morning.

The London Legacy Development Corporation board, which is meeting next Wednesday (5th December), are expected to confirm West Ham United's approval as the chosen candidate to take over use of the iconic stadium which hosted this summer's Olympic games.

Although a decision was initially expected to be made in January, the LLDC are thought to have given West Ham the green light to become anchor tenants after the club agreed to contribute a larger portion of the redevelopment costs needed to convert the stadium for football use.

That conversion - the cost of which has been estimated at arond £200million - includes the addition of a roof covering all seats plus retractable seating in order to bring the supporters closer to pitch-side. Additionally, considerable structutral amendments to the existing design are also required.

The club's improved offer is reported to include a £15million advance lump sum, £2.5million annual rent plus £6million per year from naming rights and match day revenue.

West Ham are one of four parties bidding to take control of the Stratford stadium; the others being Formula One, Leyton Orient and a Preston-based sports university.

The stadium is not expected to re-open for at least three years, with 2016 - the same year that the next Olympic games will be staged in Rio, Brazil - a more likely date.

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