The London Stadium "has accounting value of zero"

Interesting piece by Oliver Wainwright in the Guardian on the  shortfall in the promised affordable housing in the Olympic Park, that was supposed to be the result of the 2012 Olympic Games. He also blames Boris Johnson for going ahead with the ArcelorMittal Orbit, a folly which is now £13 million in debt. 

There's also a revealing paragraph on the London Stadium, which points out that the London Stadium, owned by the London Legacy Development Corporation (LLDC), is losing £10 million a year. Wainwright writes: "As a damning report by the London Assembly’s budget and performance committee noted last year: “It is ironic that by having fewer large-scale events, thanks to Covid-19, the park is haemorrhaging less money than if it were business as usual.” In the latest accounts, the stadium was listed with a value of zero."

The LLDC is handing back its planning powers to Newham Council in two years' time and will eventually be disbanded. With  the London Stadium technically valued at nothing, even though it cost £760 million to build, this surely puts West Ham in a very good position to buy the stadium at a knockdown price and redesign it as the club sees fit.