Converting the Olympic Stadium into the new home of West Ham United is to cost £272 million, meaning over £700 million will be spent on the stadium overall. Of that cost, West Ham will pay only £15 million with the rest of the money being stumped up by taxpayers.
Our Campaign Director, Andy Silvester, said the following:
"The cost of renovating the stadium continues to spiral - much like every sports project the government gets involved in. Taxpayers will be astounded that West Ham have been gifted a stunning new stadium for the same price that they paid for Andy Carroll.
"You can't blame the owners for taking advantage of this generous subsidy but such a cut-price deal simply isn't appropriate when you consider the extraordinary windfall coming the Premier League's way as a result of the new TV deal."
You can read more about the story so far and why this is such a bad deal for taxpayers on the BBC website.