London Stadium finds a way to save a few millions
The cancellation of planned showpiece events at London Stadium last year will help save the London taxpayer £7.4m, a new report has revealed
The London Assembly looks at the London Legacy Development Corporation’s (LLDC) running of the London Stadium and wider park.
It shows how costs fell as the Covid-19 crisis led to events including Major League Baseball in June 2020, music concerts and UK Athletics’ Anniversary Games the following month, being called off.
Staging West Ham United Premier League games without capacity crowds has also helped save money due to the reduced need for security and safety stewards.
The report says this is evidence of medium-term “structural funding pressures” and that “it saves the LLDC money when it’s not running events”.
However, the report also suggests the general financial outlook of the park is a “ticking time bomb” for the next London mayor.
London Stadium, which is owned by E20 Stadium LLP – a wholly-owned subsidiary of the LLDC – ultimately run by Mayor of London Sadiq Khan.