The London Stadium has been valued at just £1.5m by stadium owners London Legacy Development Corporation in a report due to be presented to the LLDC Audit Committee tomorrow. The Arcelor Mittal Orbit with its slide is valued five times as much at £7.7m.
The Queen Elizabeth Park has been valued at £195m and even the multi-storey car park owned by the Corporation is valued more the stadium at £4.2m.
The cost of building the Olympic Stadium in time for the 2012 Games then converting it so it can be used for football and concerts has already reached more than £753 million and is still rising.
Also revealed in the draft financial accounts for E20 Stadium LLP and LLDC is that revenue for the London Stadium for the year up to 31 March 2017 is recorded as £6.588m against cost of sales £10.614m The operating loss is listed at an incredible £205.206m with a total comprehensive loss recorded as an eye-watering £268.245m.
They explain that £200m of the losses relate to liabilities for onerous contract provisions that have with West Ham United and UK Athletics with a further £62.3m loss relating to impairment which is the reducing value of an asset you own, namely the Stadium.
I’ve been saying we will buy the stadium for less than £10M within the next 5 years. I now revise my prediction to we will buy the stadium and the Orbit for £10M 😂😂
Deal. Of. The. Century – B. Hearns.
I don’t know why we would buy it and assume responsibility for all the operating costs, match day expenses and future maintenance when it is so cheap to rent.
You know Sparrow you might be right mate but somehow I think if we operated it 365 days a year we would make it worthwhile with catering and naming rights. I also think Sully will not be able to resist ownership.
I am surprised to see a fan on one of our websites who is cheerful
I thought all our websites were the domain of the misery guts and full-time grumble guts Lol
I’m on hard drugs Shifty. I’m a horrible git when I’m coming down.
All the misery guts are on whtid.They are the equivalent of the piped supermarket music thats gets under everyones skin but it just doesnt go away.
Someone just said Levy puts S&G to shame because he is selling Walker to City for £50M. Am I missing something? So shame on us for not selling Antonio for £30M after paying £8M. Shame on us for not selling Lanzini for £35M when we bought him for £8.5M. Cresswell Reid Obaing Kouyatte all on long term contracts. Shame on us for not being a selling club like Spuds. Dier next. Praise Levy. Give me strength.
Please dont mention that place lads,all it does is make some of them come here & dig out the regulars with their stupid undercover,secret squirrel accounts 😂😂
I prefer the peace these days 😀
I slung my hook from there months and months ago.Its a lottery which one will invent the biggest pile of **** everyday.
Thank goodness that are no soiled nappies on here today, there are some who believe everything the media tells them & lose it when another ‘target’ isn’t signed.
It’s getting really boring, different article but with the same comments every day. Moan moan moan źzzzzz
You must remember the owners had agreed to buy the stadium & it was only Levy & co making a fuss that pushed the government to say it would keep the stadium despite the fact everybody had already advised them it was not possible To make a profit by using it for athletics & football, now the chickens are coming home, watch this space The government will not tolerate these losses for much longer they will try to sell it or at least buy out the athletics contract thereby cutting down the costs of moving the seating. Sullivan & Gold will be watching to see if they can get a bargain
They get called every name under the sun for being useless businessmen with regard to the club but thats from fans who dont know their arse from their elbow in business..
G&S will have the last laugh.
I am sure if we read the papers and put a bid in for the Stadium we will find Everton hae outbid us followed by Leicester hehehe
So what did West Ham bid to own the stadium? And what would they have had to spend to get it (at least) to where it is now? Presumably the £232M of which they contributed £15M of it?
I recall they bid £200M so the stadium as it is now would’ve stood them £450M is that right Sean?
My God, this really could be some deal for West Ham if they do buy it. Spuds. Hearn. Coe. The government at the time. They really do have a lot to answer for and as for the Dave’s they’ve pulled off a blinder haven’t they? They’ll spend another £50M on doing away with the athletics track and moving the seats forward and hey presto 70,000 stadium and all for less than £100M. Eat your heart out Levy. £800M debt for the WHL toilet. Levy puts D&G to shame 😂😂😂