London Stadium operating costs dropped by £5.3m the London Legacy Development Corporation Investment Committee heard yesterday.
Papers published by the stadium owners revealed the savings to the taxpayer in 2020/2021.London Stadium:
Stadium operating costs had been budgeted at £16.6m but amounted to £11.3m. Capital expenditure was budgeted at £15.9m with only £10.4m spent saving another £5.5m for the taxpayer.
The report said: Most of the savings have been delivered from the London Stadium where, due to the pandemic, the venue has been closed to spectators and its summer events have been cancelled or postponed. As a result, the Stadium has incurred significantly lower operating costs in 2020/21, particularly relating to the cost of moving the seating between football and summer events mode. The full cost of moving the seats to allow for a more efficient seating system in the North and South Stands has now been capitalised. In addition, there was a refund of business rates for 2020/21, as well as savings from West Ham United matches played behind closed doors.
The report also revealed ongoing legal disputes with the Stadium without naming who the legal dispute is with.