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The Olympic Stadium
Topic Started: Jan 21 2011, 12:27 AM (227 Views)
Dotty
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Stuck up bastard
Quote:
 
A local council has arranged a £40m loan to finance West Ham's potential move into the Olympic Stadium.

The club is going head-to-head with Tottenham Hotspur to take over the site after the 2012 Games.

Councillors at the Labour-run Newham Council voted in favour of the loan, calling it a "strong package".

A BBC London investigation had raised a series of concerns about how the decision to loan the money was reached.

West Ham will have access to the loan, secured by the council from the Treasury, if they are named preferred bidder by the Olympic Park Legacy Company at the end of January.

Council chief executive Kim Bromley-Derry said: "We are unable to comment on financial aspects of the Newham Council and West Ham United bid for the Olympic Stadium because of a confidentiality agreement with the Olympic Park Legacy Company.

"However our proposal offers a strong financial package with no further call on the public purse."

It emerged before the vote that councillors had been unable to examine all the financial details until the last minute.

A "significant number" of backbench councillors were known to have reservations but were said to be "afraid" to speak out over fear of losing out on highly-paid advisory roles.

There were also impartiality questions over dozens of gifts from the club to Mayor of Newham Sir Robin Wales.

The council has insisted the mayor had "nothing to hide" over hospitality he received from the club, although it meant Sir Robin was unable to take part in the vote.

It did not comment on the advisory roles.

Speaking after the vote, Mike Law, a former Labour councillor who defected to the Conservatives, said: "I am not surprised it went through - the whole vote was just window dressing.

"If you look at the constitution the mayor is the sole decision maker - so it makes a mockery to say he's not involved because he didn't vote.

"Elected members in Newham had not been briefed properly, and they have been hoodwinked into ratifying a decision that had already been made."

After the vote a council spokesman refused to say whether it would be liable for the debt if West Ham defaulted, citing commercial confidentiality.


Should a club in WHU's financial state be allowed a loan like this?
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footyfan000
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Changing my tune since 2008.
In answer to your question, no.

But with Labour being in power of that council, it is a small wonder that such massive risks are being taken with our money :ph43r:
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Monty
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I'm a naughty boy
Will they fill it when they're int he Championship?
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RetardedDwarf
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Hamster Molester
I think it should go to Hammers just because of where its based (as long as they can prove they can afford it). Spurs are a North London team, Hammers are an East End team and Stratford is Hammers terrority. The are quite a few clubs closer to the Olympic Stadium than Spurs. Suprised the hasnt been mores complaints from the Spurs supporters.

Saying that, if I was to be totally honest, I think no team should get it unless they are willing to pay close to what it cost to build. From what i hear, whoever gets it, is getting it at around a 10th of the build cost and IMO thats unfair to every other team on the basis that its been funded by the taxpayer.
Posted Image
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TheReturnOfTheKing
Definitely NOT a Terrorist
they should have to pay like 20m per season to lease it imo

very unfair on other clubs
no
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mcfc1975
Phorum Pimp
Quote:
 
Tottenham Hotspur are taking Olympic chiefs to court over the decision to hand the 2012 stadium to West Ham after the Games, the BBC has learned.

The Olympic Park Legacy Company (OPLC), which chose West Ham ahead of Spurs last month, confirmed Tottenham are pressing ahead with a judicial review.

Tottenham informed the OPLC of its decision this week, as construction on the Olympic Stadium was completed.

A spokesman for London's mayor defended the stadium bidding process.

Tottenham have sought the review to challenge the process the OPLC followed in making its decision to choose West Ham as its preferred bidder for the stadium.

An OPLC spokeswoman said: "We can confirm that a letter before action in relation to potential judicial review proceedings has been issued.

"The Olympic Park Legacy Company ran a very rigorous and transparent process in its selection of the recommended preferred bidder.

"We have been supported by independent experts in their field in terms of legal, financial, commercial and technical advice."
Continue reading the main story
London view

* Sport, news and more 2012 information

* BBC London 2012

The spokeswoman added: "We have been consistent, fair, objective and entirely equal in our dealings with the bidders from start to finish.

"We are confident that if these judicial review proceedings are pursued, our approach will be entirely vindicated by the courts."

The UK government and the office of the mayor of London are joint owners of the OPLC and will both be involved in the court action.

They have four weeks to respond to the letter in writing, then Tottenham must decide whether to go ahead with the action by serving papers to the High Court.

The office of London Mayor Boris Johnson confirmed he had received a letter confirming Tottenham's action.

A City Hall spokesman said: "We are advised and believe that the decision to choose West Ham as the preferred bidder was properly taken."

Judicial reviews allow bodies to challenge decisions on grounds of illegality, irrationality and unfairness.


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#prayforuwe
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Skywarp
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Tadpole's Excrement
Dimitar
Jan 21 2011, 01:22 AM
Will they fill it when they're int he Championship?
They wouldn't even fill it in the Premiership much less the Championship.
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mcfc1975
Phorum Pimp
west ham rejected

spurs have come across as a bunch of whiney bitches tbh

i hope that no one wants it now and they are stuck with an athletics stadium that is used once every 2 years


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#prayforuwe
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UwesGrandad
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El Mago
Skywarp
Mar 30 2011, 04:31 PM
Dimitar
Jan 21 2011, 01:22 AM
Will they fill it when they're int he Championship?
They wouldn't even fill it in the Premiership much less the Championship.
Not sure what the overall Westham fanbase is but 25-30 thousand fans in a 60 thousand seater stadium!

It'll be terrible to watch and attend games there. Pointless :doh:

Also think spurs have made themselves look like a bunch of sad beggers. Their fans dont even want the move ffs
Will be keeping Cech in my pocket for the next 3 months. Thanks Pedro :thumb:
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tebroc
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Beetlejuice's Body Double
should have been located in the midlands anyway :whistle:
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