The cost of the development has jumped in price from the 280 million pounds estimated in 2004 but Olympics minister Tessa Jowell believes it is value for money. The stadium, which will have a roof covering about two thirds of the seating areas, is surrounded by water on three sides.ĭesign chief Rob Sheard said that the Olympic flame might not be attached to the stadium itself, but placed just north of the venue.Ĭonstruction will begin next year and finish by the summer of 2011. The design includes a sunken bowl featuring permanent seating for 25,000 spectators, with the remaining 55,000 seats in a temporary structure at the top. "The stadium.is a stadium for a completely new era." "In unveiling today's images I want that to be the unveiling of a journey for the next five years," said former Olympic champion Sebastian Coe, head of the London 2012 organizing committee, at a press conference. The 80,000-seat venue in Stratford, East London will cost £496 million ($1.04 billion) and will be scaled down to a 25,000 capacity venue after the Games with its main use for athletics.
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