Earlier this week, the Mayor of London Sadiq Khan approved the change of ownership of the London Stadium moving from the London Legacy Development Corporation (LLDC) to GLA Holding Limited, a fully owned subsidiary of the Greater London Authority (GLA) with a nominal one-pound changing hands.
Owners E20 Stadium LLP and operating company London Stadium 185 will now be fully owned subsidies of GLA holdings Limited.
GLA holdings also purchased SELH (Stratford East London Holdings) Limited for a nominal fee of £1 which owned 1% of London Stadium LLP.
The mayoral decision objectives include rationalising the stadium’s operation and creating a new London Stadium board will now concentre commercial arrangements for the stadium.
The GLA funds operating losses of the London Stadium to the tune of over £17m each year.
The Mayoral decision approval paperwork seen by Claret and Hugh and signed by Sadiq Khan on 14th January shows the transfer of the London Stadium will fully complete on 31st March 2025
