Olympic Stadium cost soars


Published: Wednesday 22nd October 2014 by The News Editor

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The cost of renovating the Olympic Stadium ahead of West Ham’s 2016 move will rise by £35.9million but the extra funding will not be paid for by either the Hammers or the taxpayer.

The iconic venue in Stratford is due to host five matches at next year’s Rugby World Cup before becoming West Ham’s permanent home for the 2016/17 season.

The original stadium cost £429m to build and a fixed conversion fee of a further £154m was agreed with constructor Balfour Beatty.

That figure, however, has now risen by £35.9m to £189.9m due to the complexity of extending and strengthening the roof, but neither West Ham nor the taxpayer will be covering the added cost.

“Providing adequate support for the new roof has required significantly more strengthening work to the main roof truss, which was originally designed to be taken down after the Games,” a statement on queenelizabetholympicpark.co.uk read.

“We have therefore today agreed to increase the value of the Balfour Beatty contract by £35.9m to £189.9m.

“We will meet these costs from the project contingencies and additional income we will generate from our other developments.

“There will therefore be no additional call on the taxpayer and no impact on our current programme.”

Measuring approximately 45,000 square metres and 84m at its deepest point, the new roof will be the longest cantilevered roof in the world, with construction experts consulting similar technology to that used on North Sea oil rigs.

Despite the total bill for the stadium now amounting to £618.9m, West Ham will contribute only £15m for a 99-year lease together with annual rent and a share of income as was agreed last year with the London Legacy Development Corporation, chaired by London mayor Boris Johnson.

The renovated venue will have 50,000 seats and will also serve as the national competition stadium for athletics in the UK, hosting regional and international events.

Published: Wednesday 22nd October 2014 by The News Editor

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