London Stadium owners living on borrowed time

London Stadium owners London Legacy Development Corporation (LLDC) are living on borrowed time.

The Mayor of London, Sadiq Kahn has previously made it clear that LLDC, as a Mayoral Development Corporation, has a time‑limited role that should not be unnecessarily prolonged.

The mayor said he would be disappointed if the public body was still in existence by the end of his second term as Mayor which is due to end in 2025.

The LLDC responsibilities are due to be split up and divided between the four local authorities which include Newham and which previously bailed out of the ownership of the London Stadium.

The London boroughs won’t be keen on taking over loss-making venues with the Queen Elizabeth Park, the biggest of which is the London Stadium and perhaps there lies the motivation behind yesterday’s press statement by LLDC CEO Lyn Garner.

The press statement could in fact be a ploy by the public body to put pressure on West Ham into taking over the loss-making London Stadium on a long lease.