Firm 'won't jeopardise' Olympic legacy to repay debts

Responding to the claims of MPs in a post-Games review, the London Legacy Development Corporation said it will not jeopardise the "long-term legacy" of the Olympic Park by rushing to repay its debts.

We have to look at the longer term impact and to balance that with our obligations not just to the Lottery but also to the Greater London Authority in terms of receipts going back.

While there is a drive to maximise receipts and get the taxpayers' money back, no one would want us to act as some kind of rapacious developer at the risk of jeopardising the long-term legacy of the Park.

It is a balance and we have to work that through over the coming months.

– LLDC chief executive Dennis Hone

Also responding to the Public Accounts Committee's review, the Culture department said there are "many lessons learned" from London 2012 which the Government was "sharing for future projects".

The Government is committed to delivering a tangible, lasting legacy from the Games and work is well under way on this.

We have been crystal clear that the lottery has an entitlement to receive £675 million from land sales from the Olympic Park, that is bound by a legal agreement between the Government and Mayor of London. We will respond to the PAC report in full in due course.

– Culture department spokesman

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London 2012 legacy warning

Lessons can still be learned from hosting London 2012 despite the event's "undoubted triumph", MPs have said. They warned the Games' volunteering legacy risks "fizzling out", while the Lottery's £2bn Olympic Park donation may not be repaid.