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DEPARTMENT FOR CULTURE MEDIA AND SPORT STATEMENT ON THE FUTURE TENANCY OF THE STADIUM
DEPARTMENT FOR CULTURE MEDIA AND SPORT STATEMENT ON THE FUTURE TENANCY OF THE STADIUM
Press Release 11/10/2011
The Government and Mayor of London have decided to end the current process to dispose of the Olympic Stadium, which has become bogged down in a number of legal and other challenges.
The Stadium will now be retained as a public asset and the Olympic Park Legacy Company has been asked to start a new process to secure tenants for the venue.
Athletics will remain at the heart of the facility, as has been promised as part of the 2017 World Athletics Championship bid, but the Legacy Company will also seek leasehold football tenants, as well as considering alternative options. This ownership model is used very successfully in other stadiums across the UK and across Europe, and is also in-keeping with the other venues on the Olympic Park and the management of them after the Games.
Minister for Sport and the Olympics, Hugh Robertson, said:
“The Government is committed to securing a legacy from the Olympic Stadium, and wants to see it re-opening in 2014.
“The process to sell the Stadium has become bogged down. We are acting today to end the legal paralysis that has put that legacy at risk. Ending the current sale process and looking for a leasehold solution will remove the current uncertainty and allows us to help secure the future use of the Stadium with more confidence.”
Please note: The above statement was originally released by the Department for Culture, Media and Sport (DCMS).