LLDC CEO, David Goldstone gave evidence at the London Assembly Budget Monitoring sub-committee last week about the rising cost of the London Stadium which started at an estimate of £250m in 2004 before reaching the current total of £752m which is over treble the initial estimate given to the public.
The committee heard how the stadium build costs grew from an initial estimate of £250m to build the stadium for the Olympics in 2004 to £429m by the time the London Olympics opened in 2012.
The original cost from Balfour Beatty to transform the stadium for football was first budgeted at £154m which took the estimated total costs to £583m. A further £36m was later added to the transformation budget because problems with the roof and retractable seating taking the figure to £619m.
In June last year the LLDC revealed the transformation works has risen again to £272m meaning the total spent on the stadium rose to £701m. Just a few weeks ago the London Mayor admitted that they had spent another £51m to bring the final total to £752m.