Council approve �40m loan for Hammers Olympic stadium bid
NEWHAM Council last night approved a arranged a �40m loan to finance West Ham United’s possible move into the Olympic Stadium.
Councillors at an Extraordinary Meeting of Newham Council voted in favour of the loan in private session.
West Ham will have access to the loan, secured by the council from the Treasury, if they are named preferred bidder by the Olympic Park Legacy Company.
The council cannot comment on financial aspects of the Newham Council and West Ham United bid for the Olympic Stadium because of a confidentiality agreement with the Olympic Park Legacy Company.