London Stadium chief quits after board given warning on lack of profit
David Edmonds, chairman of the board responsible for West Ham's London Stadium, has resigned, the London Legacy Development Corporation (LLDC) has announced.
Edmonds' resignation comes amid the ongoing row over the rising costs for converting the London Stadium for use by West Ham, who moved into the venue this season.
The bill has increased by a further £51 million to a total overall cost of £752m, with London mayor Sadiq Khan having ordered an investigation into the escalating costs.
LLDC statement on chairman's resignation pic.twitter.com/xNZdn2dna2- Paul Kelso (@pkelso) November 3, 2016
Khan's investigation will look to set out a plan to make the stadium self-sufficient, though the LLDC was previously told that that may not be possible.
"Members were told that it may not be possible for the stadium to make a profit," someone present at the meeting told The Times. "There may have to be a level of cost which it is judged as acceptable to cover in terms of everything that the stadium provides to the community.
"There are stadiums all around the country and the world which cost money to keep them operational, the question is at what level is one prepared to keep them going."
West Ham have a 99-year lease on the London Stadium and pay an annual rent of £2.5m, which covers nearly all their costs. They also contributed £15m towards the conversion costs, with the public purse paying the rest.
This has led to widespread criticism from politicians, supporters of other clubs and campaigners for accountable and transparent government.
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