Britain's £500m legacy pit
The design for the main 2012 Olympics stadium has now been unveiled. It's going to comprise a permanent 25,000 seat "legacy" stadium built in a pit, surrounded by a temporary scaffolding structure accommodating a further 55,000. The whole thing will be "wrapped" in a giant plastic sheet covered with uplifting Olympic style images.
No, amazingly, I'm not making this up.
And the price?
It started at £280m. That's what we were told when the bid was made.
We've learned since that figure took no account of inflation or VAT or various "incidentals". Like seats. And like dismantling most of it after the Games because nobody actually wants that vaunted and much bigged up "legacy".
What's more, the new and amazingly precise £496m figure (blogged here) now turns out to be no more than "a forecast and is only 80 per cent certain of being the final cost for the stadium".