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SBD Global/June 22, 2012/Olympics

Olympic Media Center's Post-Games Future Up In Air

Advisers to London Mayor Boris Johnson are "examining the costs" of tearing down the Olympic int'l broadcast center after the games, threatening British PM David Cameron’s dreams of an east London "Tech City," according to Roger Blitz of the FINANCIAL TIMES. The int'l broadcast center cost £295M ($463M). The move comes amid a "tender competition between consortiums bidding to take over the whole media complex on a 99-year lease." A London Assembly report warned in '10 that the complex "would have to be adapted" for use after the Games, and “a public contribution may be required." At least one bidder has indicated it is "willing to absorb the conversion costs privately." However, that may "affect the amount bidders are willing to pay" to lease the building (FINANCIAL TIMES, 6/20).
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