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Nearly 20 Years After Sheffield Staged World Student Games The Final Bill Is Revealed - £650M - And There’S Still Half To Pay

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http://www.thestar.co.uk/news/local/nearly_20_years_after_sheffield_staged_world_student_games_the_final_bill_is_revealed_650m_and_there_s_still_half_to_pay_1_3193430

THE final bill to Sheffield taxpayers from the World Student Games 20 years ago will be an “eyewatering” £650 million and won’t be paid off for another 13 years, The Star can reveal.

Less than half the debt - £296m - has been repaid so far and annual repayments of up to £30m will continue to eat into Sheffield Council’s budget until 2024.

The total, which increased dramatically through refinancing processes, is more than four times the original £147m cost of building venues for the 1991 Games.

Although Sheffield Arena and Ponds Forge - major facilities provided by the Games - have proved assets for the city, others have not.

A sports hall on the Manor was bulldozed when the old Waltheof School was redeveloped into Park Academy.

Mike Corden, chair of City of Sheffield Athletic Club whose members use Don Valley Stadium and Woodbourn Road athletics track, said: “We have the best athletics facilities in the UK but, if you asked me as a taxpayer whether the amount spent was a good idea, the answer has to be no.

“The scale for Don Valley was beyond belief and the construction cost, around £30m, eye-watering.

“At the time, Crystal Palace in London was the largest venue, holding 17,000 people but Don Valley was built to hold 25,000.

“You can’t get 5,000 or 6,000 people to an athletics event these days.

“It is reasonable to ask why such an amount of debt was taken on,” he said.

......

But Sheffield South East MP Clive Betts, leader of Sheffield Council when the Games were held, said: “The final refinancing plan was approved when the Lib Dems were last in power, between 1999 and 2002.

“Labour borrowed money to provide facilities that are extremely well-used, and an asset for Sheffield.”

Yes including the asset that was bulldozed!!!

The wonders of refinancing the debt. Still it's only £30m a year, hardly like the council is cutting back jobs is it....

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Wasnt this all to do with a failed Commonwealth games bid? Or a possible bid in the future (2020?)

If they get the games, it'll be a good investment. If not it's 'the moor' version 2.

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Wasnt this all to do with a failed Commonwealth games bid? Or a possible bid in the future (2020?)

If they get the games, it'll be a good investment. If not it's 'the moor' version 2.

We had the games in 1991, I think the council thought that the govt would give them some money to do it. Unfortunately the govt didn't want to know and gave Sheffield £0 (although they might have made a token gesture but I'm certain the city got nothing), so the council went ahead and footed the bill all on it's own, in the sense the local taxpayer got to foot the bill.

Now when Manchester got the Commonwealth games they got a govt funding.

Although I have to say that for potholes Sheffield is a world leader but then £30m a year has to be paid to the nice bankers.

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World student games , featuring events like

*Drunk 100m - drink 8 pints then stumble 100m , fastest wins

*Pot noodle making - whoever makes the best pot noodle wins

*Protesting : Loudest protester (in decibels) wins a Labour party membership

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World student games , featuring events like

*Drunk 100m - drink 8 pints then stumble 100m , fastest wins

*Pot noodle making - whoever makes the best pot noodle wins

*Protesting : Loudest protester (in decibels) wins a Labour party membership

That's about all most students are good for ! laugh.gif

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Wasnt this all to do with a failed Commonwealth games bid? Or a possible bid in the future (2020?)

Not really.

Some good facilities came out of it but I'm not sure they were worth the £650 million.

Now when Manchester got the Commonwealth games they got a govt funding.

A much better known event.

Also flying the red flag from the town hall and the "socialist republic of South Yorkshire" stuff was bound to alienate the government of the day.

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World student games , featuring events like

*Drunk 100m - drink 8 pints then stumble 100m , fastest wins

*Pot noodle making - whoever makes the best pot noodle wins

*Protesting : Loudest protester (in decibels) wins a Labour party membership

Throwing eggs and running away (v. popular in Sheffield). Points for accuracy and spinelessness.

The 100 yards smug

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I find it somewhat crazy to think that the 'students' who participated in these games will be well into middle age by the time this white elephant is paid for!

Makes you wonder what the final payable amount will be for London 2012?

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I find it somewhat crazy to think that the 'students' who participated in these games will be well into middle age by the time this white elephant is paid for!

Makes you wonder what the final payable amount will be for London 2012?

I think you just said it: £20.12bn

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Come on people it was all worth it as the Don Valley is ued by Rotherham United now. Money well spent.

Remembering what their old ground used to look like, I'd actually agree with that.

I find it somewhat crazy to think that the 'students' who participated in these games will be well into middle age by the time this white elephant is paid for!

I was 25 at the time and am now definitely middle-aged, so they can't be too far behind me.

The opening ceremony was good, in fact it wasn't until the opening ceremony was so well received in the city that demand for tickets picked up.

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I find it somewhat crazy to think that the 'students' who participated in these games will be well into middle age by the time this white elephant is paid for!

I was there at the time, doing research at the university. I even sang in an official opening concert for the event (not my choice - it was just on the concert programme). And I'm now firmly middle-aged.

Makes you wonder what the final payable amount will be for London 2012?

But that's a 'national' event, meaning there'll be upwards of 100x more taxpayers on the hook for it. Can't expect poor Londoners to pay for it all on their own (but can expect Sheffield people to stump up their share for both events).

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But that's a 'national' event, meaning there'll be upwards of 100x more taxpayers on the hook for it. Can't expect poor Londoners to pay for it all on their own (but can expect Sheffield people to stump up their share for both events).

I just wish we could pass the bill on to the idiot councillors that decided to bid for this with no real plans about how to pay the money back.

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I just wish we could pass the bill on to the idiot councillors that decided to bid for this with no real plans about how to pay the money back.

Which one? Sheffield or London? The latter seems the more relevant, since it's current rather than historic.

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Which one? Sheffield or London? The latter seems the more relevant, since it's current rather than historic.

Don't say things like that, you make me feel old.

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:lol:

You still in Sheffield? I have fond memories of the place ... :wub:

Unlike many of my schoolmates (judging from Friends Reunited), I remain resolutely in the city of my birth. I'll probably die here.

In some ways it has improved since 1991. The area around the town hall is a lot nicer (they've chased the winos away), there's Vally Centertainment, the tram, and other areas that have been spruced up in varying degrees.

The image below is certainly not a Sheffield that my father would have recognized.

july+354.JPG

Haymarket is largely neglected though, and of course The Moor looks a bit of a shambles at the moment (and for the foreseeable future).

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  • 276 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • up 5%



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