Monday, 9 July 2012

One of poorest boroughs in Britain has £40m going spare!

I've said it before and I will say it again, £40m blown on the Olympic Stadium is a disgraceful misuse of public funds. Newham Council can say what they like about creating and safeguarding jobs, it is not their place to be involved in funding a sports stadium to be used by a privately owned football club.

How could that money be spent? How about subsidised housing for nurses? Don't they deserve help to find a decent home more than a football club?
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7 comments:

  1. Anonymous9 July 2012 at 22:48

    Hear, hear!

    MOT

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  2. Ed9 July 2012 at 23:17

    Blinkers on!

    It's not a gift to the Club, it's a loan, which the Council will make money on, as a result of it being a partnership. In many ways, it's not even a loan - it's Newham's contribution into the partnership.

    It's an investment in the future of the Borough, which helps ensure there is a major attraction for vistors, which does secure jobs.

    Football is never going to be the only function of the stadium, so though the loan may be to WHU (on paper), that's merely because WHU is the anchor tenant and hence key to the whole project.

    Bottom line is - the money, if managed properly (and we can only hope it would be) will generate more money back into Council funds, which can be used in the capacities suggested.

    Unless you are trying for a job in the gutter press, stop being sensationalistic

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  3. Bonzo's lance corporal.9 July 2012 at 23:35

    Bollocks,Hammersfan. Newham is full of Somalian gangsters on the housing list and we don't them getting priority over our beloved football club,owned by those two upstanding citizens,the two Davids.

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  4. spyinthesky9 July 2012 at 23:39

    Funny I thought local kids had an entitlement to decent sporting opportunities after all don't we all complain about facilities and sports fields being taken away and lack of facilities being responsible for much of the crime and delinquency on our streets not to mention unfit over weight kids and adults meaning we will be needing a damn sight more nurses costing more in the longer term. After all this proactive sport and fitness and job creation programme is what that money will actually be directly and indirectly used for but hey clearly such 'innovative' ommon sense foresight is clearly not wanted here yes why sort out core problems when you can simply play at massaging the symptoms and look sensible to the easily decieved. The Daily Mail will be pleased.

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  5. Old John10 July 2012 at 08:59

    It is an investment not a loan, and the beneficiary is the London Legacy Development Corporation not West Ham football club. I must admit this eagerness for Newham Council to get involved with the Olympic Stadium project has always been a mystery to me. Due to its geographical position it will always employ mainly people from Newham, so that is no reason for an investment.With regard to other benefits for the local community the LLDC as landlords could write any requirements they desire into the tenancy agreement so no reason for an investment there either.So what is the real reason for the investment?

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  6. Anonymous10 July 2012 at 09:48

    A breathtakingly poor and badly researched "article".

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  7. Anonymous10 July 2012 at 09:58

    They haven't got £40m to invest you fool HF.

    They have borrowed it from the government at preferential rates and they receive a greater rate back from the investment. Its not that hard to work out - not even for you.

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