London Stadium Cost Overruns Lead to High-Profile Resignation

(ATR) Dave Edmonds resigns as chairman of the London Legacy Development Corporation two days after London Mayor Sadiq Khan’s request for an investigation into the costs of renovations to the Olympic Stadium.

The centerpiece of the London 2012 Olympics was converted into a football stadium for West Ham United including the addition of retractable seating and a cantilever roof.

The total cost of the renovations was originally reported at $335 million while new findings calculate the cost at $397.5 million. Khan blames the administration of his predecessor Boris Johnson for the discrepancy.

The retractable seating poses the greatest financial challenge as estimates to remove the 21,000 seats for track and field events have risen from $370,000 to more than $9 million.

The inflated cost to remove the seating is a result of the original contractor for the project going bankrupt. Removing the seats is necessary to stage major events such as the World Athletics Championships in 2017 and concerts.

Former LLDC chair Daniel Moylan has questioned whether stadium owners should bite the bullet and keep the seats year-round, limiting the stadium to football matches only.

Edmonds steps down from the LLDC just over a year after being appointed as chairman in September 2015. He has been a board member of the Olympic Park Legacy Company and the LLDC since 2010.

"David has made an enormous contribution to the legacy of the London 2012 Games and he has helped to steer the organisation through some extremely challenging issues," said David Goldstone, chief executive of the LLDC.

The resignation is expected to be the first of many from the LLDC board according to The Guardian.

Written by Kevin Nutley

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