London Mayor Sadiq Khan ordered an "independent inquiry into the soaring conversion costs for the former Olympic Stadium" that is now home to EPL side West Ham after "it emerged the bill had risen" by another £51M ($62.7M) to £323M ($397M), according to Owen Gibson of the London GUARDIAN. Khan, "elected to succeed his Conservative predecessor Boris Johnson in May this year," claimed that the finances of the London Stadium had been left in a "total and utter mess by the previous administration" as the cost of the conversion "ballooned." The increase, "partly accounted for by increased costs involved in moving the retractable seats" installed to convert the stadium into "football mode," takes the overall cost of the stadium to £752M ($925M). A spokesperson for Khan said, "The mayor is deeply concerned about the finances of the Olympic Stadium, which have clearly been left in a total and utter mess by the previous administration at City Hall" (GUARDIAN, 11/1). In London, Murad Ahmed reported West Ham "won tenancy rights following a long and bitter battle" with Tottenham Hotspur, which wanted to "demolish the stadium to build a football-only venue." After agreeing to maintain an athletics track, West Ham was awarded a 99-year tenancy agreement. When the tenancy deal was signed in '13, the price of converting the stadium was estimated at £154M (FINANCIAL TIMES, 11/2).
INQUIRY DRAWS PRAISE: In London, Matt Law reported Kahn’s move has been praised by the Olympic Stadium Coalition, which was set up by 14 supporters’ trusts and groups "to campaign over the financing of West Ham’s new home" that is on course to cost £753M. Summer concerts "are due to begin three weeks after West Ham's last home game," with Depeche Mode due to play its first U.K. stadium gig in 23 years there on June 3. But the seating issue "threatens the stadium's summer 2017 schedule," which also includes athletics, and could even delay West Ham's return for the start of the new football season to September. While the seats are described as "retractable," the job of moving them "is largely manual and it has been claimed it will take 15 days to remove them at the end of the season" and another 15 days to put them back in (TELEGRAPH, 11/2). In London, Hatty Collier reported London Deputy Mayor Jules Pipe said that the investigation "would look at all aspects of the stadium." He added that renegotiating the deal with West Ham "would be difficult." A spokesperson for Khan said, "Sadiq has ordered a detailed investigation into the full range of financial issues surrounding the stadium. We remain committed to the future of the stadium as a venue for football and other sporting and cultural activities" (EVENING STANDARD, 11/2).
'ABSOLUTELY RIGHT': The BBC reported Newham Mayor Robin Wales -- whose borough co-owns the stadium after investing £40M ($49.2M) -- said that he "fully supported" the call for an independent review into the rising costs. He added, "We have a duty to taxpayers to scrutinize this." TaxPayers' Alliance CEO John O'Connell said, "For too long the details of this shabby deal were kept in secret and lacked proper scrutiny so Sadiq Khan is absolutely right to look again at the case" (BBC, 11/1). The BBC reported in a separate piece campaigners "have welcomed the start of an investigation" by Khan. A statement from the Olympic Stadium Coalition said, "This is a breakthrough in our long campaign to highlight the intolerable burden on taxpayers. We have never objected to the idea of West Ham playing at the stadium; the question is simply one of how much the club should pay, and how much the taxpayer should be expected to fund." The Olympic Stadium Coalition, which is comprised of 14 supporters' trusts and groups, said that taxpayers deserved to be made "fully aware" of how much they are paying (BBC, 11/2).
