Cost of transforming the stadium Of the £272m costs, £15m is being provided by West Ham, with £1m coming from UK Athletics. The stadium will have an initial 54,000 capacity and has already staged other events including rugby union matches and motorsport. Work has included installing a new 45,000 square metre cantilever roof, twice the size of the original, covering all the seats - it will be the largest of its kind in the world. The local borough of Newham is contributing £40m, and national government £25m, with the rest coming from a variety of sources, including Olympic Park land sales. Retractable seating for 21,000 spectators is being fitted to allow the athletics track to be used in the summer, and the venue will host the 2017 World Athletics Championships. West Ham's vice-chairman Karren Brady says she fought for the best deal, but denies this was at the expense of taxpayers. The Hammers are paying £15m towards the transformation costs of the stadium, and reportedly £2m to £2.5m rent annually as part of a 99-year lease. West Ham will also have to fork out a different amount each year based on which division the club is playing in, with the cost rising for every position above 11th they finish in the Premier League. Additional fees will be charged if they win the FA Cup, qualify for the Europa League or Champions League, and should they triumph in those tournaments. West Ham's vice-chairman Karren Brady says she fought for the best deal, but denies this was at the expense of taxpayers.
I can literally see the Olympic stadium from where I'm sitting in my flat. To be honest I'm not massively looking forward to West Ham being there. It's gong to be a massive hassle. However the amount it get used now, and this isn't due to change, is amazing. I think it would be hard to argue that West Ham should have paid for it. If they had bought it then they should pay, but they're just the tennents.
