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I like the seats going from £300k to £8m. That's an impressive amount of 'issue'.
Edit: From £14.29 per seat to £380.95
Dramatic_Hammer-
It's a standard way of getting the building contracts.
Nearly all tenders are won by the cheapest bidder, then once you win you go bust. But that's just a company going bust, you can set up another and save the project for the real profit-making bid using a new company. At which point the entity paying doesn't have a lot of choice in the matter.
It's for this reason that Wandsworth Council were brilliant with regards to the power station chimney restoration. They used planning law to prohibit work on all four chimneys simultaneously and this meant that the company doing this couldn't easily go bust after winning the contract and demolishing them... they had to actually demolish one and fully restore it to get paid and then proceed, leaving the big money to roll in later but receiving enough funds to keep going after the first chimney. Slowing the whole process down prevented the typical smash and grab.
Velocio
Funny that, whenever Sadiq Khan investigates the finances of anything done under Boris Johnson these days, it turns out to be a total mess.
https://www.theguardian.com/sport/2016/nov/01/sadiq-khan-mayor-london-west-ham-stadium-inquiry
Who would have thought? (Only everybody who was paying attention at the time.)