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Olympic stadium costs soar to over £700m

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The total cost of building, striping back and then transforming the Olympic Stadium in to a new home for West Ham football club has broken the £700million barrier

According to The Guardian, the costs of converting the Populous-designed stadium into a multi-purpose venue which is to be shared by the East London football club and UK athletics has risen to £272million, meaning the total costs - including the original construction - now stand at £701million.

When London bid for the right to hold the 2012 Olympics in 2005, the stadium was originally priced at £280million. That figure rose to £429million in the run up to the Games.

At current levels of spending the new home for West Ham FC will cost marginally less than Wembley, which is the most expensive stadium in the UK.

The announcement comes as the last contracts to transform the stadium have been signed. The transformation of the former Olympic venue has been handled by the delivery authority for the Olympic Park, the London Legacy Delivery Corporation (LLDC)

Once complete, the reconfigurated roof will be the largest cantilevered roof in the world and 84m wide at it’s furthest point.

West Ham are expected to move into the new home in 2016, though work on the stadium will pause later this year when it will host five matches for the Rugby World Cup.

The extra costs are not expected to delay the construction schedule.

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