Still no future tenant and no prospect of having one soon. What’s even worse, time for reconfiguration has just been prolonged by two years, ruining the image of ‘Olympic legacy’.
London’s Olympic Stadium wasn’t supposed to be beautiful and iconic like the one in Beijing. It was to be useful and have a full calendar after the Olympics end. None of that has worked so far. Cost rose by 80% over the course of construction and now further funding is needed to redevelop the stadium for future tenants.
Who will those be? That is still unclear as we have no decision by the London Legacy Development Company, though it was to be announced months back. Possible date may be early December, but this isn’t clear and rumors of early 2013 for tenant selection are getting louder.
And as if this wasn’t bad enough, funding source for the retractable seating and roof changes is still unclear. Thus the reopening after necessary works is also unknown. Projected to take place in August 2014, this date was described by LLDC as ‘completely out’ on Wednesday.
News of the delay came from Dennis Hone, chief executive of the London Legacy Development Corporation, who said the stadium would not be handed over to new tenants until 'August 2015 at the absolute earliest and possibly August 2016'.
This date is not only a blow for possible tenants, but also a growing threat for 2017 IAAF World Championship granted to the Olympic Stadium. The venue shouldn’t be undergoing any major works in months preceding the tournament and if the August 2016 timeline gets further delayed, IAAF may face a vision of relocating their event. Lord Coe, who is both the organizer of 2012 Olympics and vice-president of IAAF, said his organization will be monitoring the situation.