Showing posts with label Olympic Park Legacy Company. Show all posts
Showing posts with label Olympic Park Legacy Company. Show all posts

Tuesday, September 21, 2010

Bid Deadline Nears for London Olympic Stadium Takeover

A deadline is approaching for private firms to submit bids to take over operations of the new Olympic stadium being built for the 2012 Summer Olympics in London.

So far only three parties are known to have expressed an interest but a "handful" of others are expected in the next fortnight.

They have until September 30 to submit their bids to the Olympic Park Legacy Company (OPLC).

The OPLC is the body which is tasked with finding a tenant for the 80,000-seater venue in Stratford, east London.

Who'll Take Over London Olympic Stadium?
Sky News
September 16, 2010

Saturday, July 17, 2010

Ownership Questions Threaten Future of London's Olympic Stadium

THe UK Government is reportedly stalling the handover of ownership of the 2012 Olympic Stadium in London to the Olympic Park Legacy Company, which is in charge of securing renters and users for the stadium after the 2012 Olympics end. BBC Olympics Correspondent Adrian Warner says this could cause business entities interested in operating the stadium after the Olympics to walk away.

The problem is that the last Government promised to hand over ownership of the Olympic Park to the OPLC, debt-free, so that it could do the financial deals to sell or rent out the venues to the private sector after 2012.

It's a pretty fundamental action to take. Would you be able to sell your house if you didn't have ownership of it or possess the deeds? No chance.

But the new coalition Government has now put that decision on ice, while the Treasury reviews financial decisions taken by Labour.

Delays will make 2012 'white elephant' fear a reality
BBC
July 6, 2010