GLA to continue to fund London Stadium

The Greater London Authority budget is up for consultation again for the financial year 2021-2022.

The London Stadium will again be looking for funding from the Mayor of London and the London Assembly.

The budget documentation says that £11.8m is budgeted as a contribution from the GLA to London Stadium running costs for 2021-2022 dropping to £11.1m for the year 2022-2023.

The London Legacy Development Corporation (LLDC) are also seeking an additional £3.5m of capital for improvements to the London Stadium in the financial year 2021-2022 which will drop to £2.9m in 2022-2023.

E20 Stadium the public company that owns the London Stadium made a loss of  £29.1 million in the financial year 2019-2020.

Operating costs of the stadium reduced by £9.5m last year due to the venue’s closure around COVID restrictions.

Any shortfall from the GLA funding is made up by E20’s parent, the London Legacy Development Corporation (LLDC)  who leased land on the Olympic Park.