Inquiry opened into West Ham's Olympic Stadium deal

https://www.theguardian.com/sport/20...iry?CMP=twt_gu

The mayor of London has ordered an independent inquiry into the soaring conversion costs for the former Olympic Stadium that is now home to West Ham United, after it emerged the bill had risen by another £51m to £323m.

The increase, partly accounted for by increased costs involved in moving the retractable seats installed to convert the stadium into “football mode”, takes the overall cost of the stadium to £752m.

West Ham, the anchor tenants in the stadium during the winter because of a controversial deal in which they pay a basic £2.5m a year in rent, contributed £15m towards the overall conversion costs with the rest largely borne by the taxpayer.

This whole thing has been a mess. I don't understand why the government is paying for all the work that needed to be done. It would have been cheaper to knock the whole thing down than do this deal. The option to sell the land to Spurs and have them build a custom stadium as a better idea too.

[denphone]

The trouble is it was not designed for football matches and no matter what they do significant flaws in many aspects of the stadium are still likely to remain so yes the cheapest and wisest option would have been to bulldoze it.

l wonder what TD's thoughts are on this?.

I saw this on the news and I am thinking, some hospitals are facing closure due to serious budget cuts, we have had a hospital closure in another district not that long ago and now people have to travel in to our district if they need Accident and Emergency care and now I can see why. I cannot believe Tax payers are being levied here, when majority of them won't ever use or visit this Stadium, ever in their life time.

[denphone]

Originally Posted by Mick

I saw this on the news and I am thinking, some hospitals are facing closure due to serious budget cuts, we have had a hospital closure in another district not that long ago and now people have to travel in to our district if they need Accident and Emergency care and now I can see why. I cannot believe Tax payers are being levied here, when majority of them won't ever use or visit this Stadium, ever in their life time.

This reveals quite a lot into the deal as yes it seems some can easily get taxpayers money willy nilly while many of our important services struggle and have to cope with closures and cuts.

http://www.telegraph.co.uk/football/...ding-25m-annu/

Absolutely ridiculous and demonstrates that there is money about but it's being wasted on things not in the national interest by people and organisations happy to squander public funds. Sorry but if west ham need a new ground they should pay all the costs of constructing or converting they can keep their £2.5 million and we'll keep our £740 million.

[heero_yuy]

The FA have pocketed £billions from TV deals. Is it too much to expect them to stump up a few £million instead of the taxpayer?

Originally Posted by heero_yuy

The FA have pocketed £billions from TV deals. Is it too much to expect them to stump up a few £million instead of the taxpayer?

Why should the FA cough up? West Ham should.

[Kursk]

Originally Posted by Mick

I cannot believe Tax payers are being levied here, when majority of them won't ever use or visit this Stadium, ever in their life time.

Nor me. Bungs in plain brown envelopes must be changing hands daily.

[denphone]

l think its pretty obvious that friends in high places played a large part in West Ham getting this type of deal.

[papa smurf]

Originally Posted by Kursk

Nor me. Bungs in plain brown envelopes must be changing hands daily.

if there's one thing we learned from slap splatter its that football is bent ,from the bottom to the very top its a festering cesspool of corruption ,it beggars belief that people are surprised by this .

[TheDaddy]

Originally Posted by Damien

This whole thing has been a mess. I don't understand why the government is paying for all the work that needed to be done. The option to sell the land to Spurs and have them build a custom stadium as a better idea too.

Good idea, give the stadium to the people that scuppered the origional deal that would've seen west ham purchase the stadium rather than rent it for 25 days a year

Originally Posted by Mick

I saw this on the news and I am thinking, some hospitals are facing closure due to serious budget cuts, we have had a hospital closure in another district not that long ago and now people have to travel in to our district if they need Accident and Emergency care and now I can see why. I cannot believe Tax payers are being levied here, when majority of them won't ever use or visit this Stadium, ever in their life time.

The deal will make a profit for the taxpayer in the end besides if the money wasn't spend here you really think it'd be available for hospitals because I don't, anyone that does probably believed the referendum poster about giving the nhs all that cash to

Originally Posted by RizzyKing

Absolutely ridiculous and demonstrates that there is money about but it's being wasted on things not in the national interest by people and organisations happy to squander public funds. Sorry but if west ham need a new ground they should pay all the costs of constructing or converting they can keep their £2.5 million and we'll keep our £740 million.

We'll keep a white elephant. At least with the hammers there it'll make a profit over the course of the lease

Originally Posted by Damien

Why should the FA cough up? West Ham should.

Why? They're tenants for 25 days a year

---------- Post added at 21:24 ---------- Previous post was at 21:23 ----------

Originally Posted by denphone

l think its pretty obvious that friends in high places played a large part in West Ham getting this type of deal.

You clearly have absolutely no knowledge of the deal to say that

[Pierre]

Originally Posted by TheDaddy

Good idea, give the stadium to the people that scuppered the origional deal that would've seen west ham purchase the stadium rather than rent it for 25 days a year



The deal will make a profit for the taxpayer in the end besides if the money wasn't spend here you really think it'd be available for hospitals because I don't, anyone that does probably believed the referendum poster about giving the nhs all that cash to



We'll keep a white elephant. At least with the hammers there it'll make a profit over the course of the lease



Why? They're tenants for 25 days a year

---------- Post added at 21:24 ---------- Previous post was at 21:23 ----------



You clearly have absolutely no knowledge of the deal to say that

I think we can safely assume you're a West Ham fan.

Twice you stated in your replies that this deal will make a profit for the taxpayer.

The taxpayer has paid £323m to convert the stadium. West Ham are paying £2.5m a year.

So at that rate it would take 123 years to break even. That's a great deal for the taxpayer!

I just hope it's London taxpayers that are copping for it.

[TheDaddy]

Originally Posted by Pierre

I think we can safely assume you're a West Ham fan.

Twice you stated in your replies that this deal will make a profit for the taxpayer.

The taxpayer has paid £323m to convert the stadium. West Ham are paying £2.5m a year.

So at that rate it would take 123 years to break even. That's a great deal for the taxpayer!

I just hope it's London taxpayers that are copping for it.

Joy, yet another person with absolutely no idea what they're talking about

Originally Posted by TheDaddy

Joy, yet another person with absolutely no idea what they're talking about

Can you show me how me the taxpayer will recoup the extra money spent and HOW SOON?

Besides these are the questions I assume the inquiry might help answer.