We would like to issue an apology for an article that was written by one of our writers about the London Stadium. It included incorrect facts about the financial situation of the stadium operators. We would like to apologise for any misunderstanding that has occurred and the facts should have been checked before we reported them.
Our articled stated that the operator of London Stadium is close to bankruptcy. VINCI, are the operators of London Stadium. E20 are the owners of London Stadium. We re-reported other reports of financial distress at E20, the stadium owners, without verifying the facts of the matter. For clarity, E20 is owned by LLDC and the London Borough of Newham. They in turn awarded a 25-year contract to VINCI to operate the stadium. E20 are not the operators and have no shareholding in VINCI. Similarly, VINCI has no shareholding in E20.
There is no financial distress at VINCI and this should have been made clear in the article.