Back in 1997, The British Olympic Association began the long and arduous task of putting together the bones that would eventually become London’s bid to host the 2012 Summer Olympic Games.
Three years later, the association disclosed its findings to the government departments involved in the process, and plans were put in place to launch London’s bid to follow up on three previously unsuccessful UK attempts (Birmingham 1992, Manchester 1996 and 2000).
After years of structuring and restructuring, 2005 saw the games handed to the capital, with a projected budget of £2 billion worth of spending over the seven years leading up to the event.
The Cost
Unfortunately, as with most budget estimations, £2 billion ended up being a little short of the mark. Some figures suggest that £9 billion is perhaps a little more accurate for the total spend, with the cost of the various stadiums and venues accounting for a large percentage of that total.
The Olympic Stadium itself, which played host to many memorable moments from the track and field events, saw £429 million worth of building costs initially. While this may not seem like a large amount when compared to the total, that figure is set to rise considerably as plans as set in motion to convert the stadium for use as the new home of West Ham United.
West Ham’s takeover of the Olympic Stadium is the result of the work of the London Legacy Development Corporation (LLDC), who were keen to ensure that the buildings created for the 2012 games wouldn’t then lie dormant and underutilised, the way that the costly Millenium Dome did for so many years.
However, in order to make it suitable for use as a Premiership football stadium, various alterations will have to be made, including making retractable seating that can sit over the running track, and adding a new roof.
It’s the latter that is causing the headaches. As the Olympic stadium was designed for its original purpose only, converting it has proven to be more costly than previously imagined, with an additional £154m on top of the original price being the latest estimation.
The LLDC has now ventured an estimate of a further £15m needed to finish the roof, which requires strengthening of the structure that is to support it.
The extra conversion costs will see the total spend on the stadium double from the original proposal outlined in the 2012 bid, with this latest increase adding fuel to the fire for dissenters who have already voiced their anger regarding the escalating costs and apparently reckless planning of the Olympic organisers.
Work is due to be complete on the conversion by next summer, with West Ham moving in for the start of the 2016-17 football season.
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