The IAAF was given a signed legal document from the British government in 2011 guaranteeing the athletics track would be maintained at the former Olympic Stadium regardless of which football club moved in after the 2012 Games. Under the terms of the agreement, it guaranteed that the stadium would remain in public ownership and that athletics is guaranteed at the Stratford venue for 99 years.
The legal agreement was a condition of hosting the 2017 World Athletics Championships which was hosted last summer.
The existence of this contract will come as a blow for those who want Athletics to relocate to Birmingham to reduce the cost of moving the seats each summer. The cost of moving the seats this summer for the World Athletics Championship rose to £11.8m against forecast losses £24m this year.
The mayor has appointed a Chief Restructuring Office called Alan Fort to reorganise stadium owners E20 who are in financial distress. Last week Newham bailed out of the partnership after investing £52.2m after they refused to invest any more funds. They have lost their 35% stake in the stadium and any chance of recovering their £40m loan.
The Government can easily persuade the Athletics association to agree to terminate this contract all they have to do is threaten to stop funding the Birmingham & any future games
Without funding they cannot survive no track event has ever made money on ticket sales
Good luck getting that through Claret 😀 UK Athletics won’t give up it’s golden crown unless there is something spectacular on offer, either way it will end up costing a lot just shows what muppets they were Coe, Johnson, Livingstone and all, they could have offloaded all this expense onto us but allowed themselves to be bullied by a couple of wide boys and a tosser from CAST.
Personally I would like Athletics to relocate to Outer Space- & keep going. But we are saddled with it 😠😠😠