Australian tycoon launches bid to rescue world-famous Walthamstow Stadium from demolition
Walthamstow Dogs threatened
An Australian tycoon has launched a last-ditch bid to save Walthamstow Stadium from the bulldozer.
Developers sparked a storm of protest after tabling plans to demolish the iconic stadium to make way for a homes scheme.
The last race at the stadium, which was featured on the front cover of Blur’s Parklife album, is scheduled for 16 August.
But a consortium led by Richard Cox is offering to buy the eight-acre site from the developers for an estimated £33m.
A demonstration is due to be held in support of the plans to rescue the stadium, opened in 1933, at the track tomorrow.
A spokesman for the consortium said: "The consortium believe in greyhound racing and they believe they can make an awful lot of money out of it.
"The stadium is completely over-staffed and needs to be streamlined. Greyhound racing is the number-two sport in the country. If the stadium was run properly, it could be very profitable."
The members of the five-strong group, which includes two City stockbrokers, are believed to be fanatical about the sport.
If the consortium's bid is rejected, it will offer £250,000 a year to lease the stadium for up to five years while the developers apply for planning permission for their homes scheme.
The stadium has been a magnet for a gallery of stars with Madonna and Brad Pitt among those enjoying a night at the dogs.
Campaigners have been fighting the joint development plans by KW Linfoot, Yoo Capital and London & Quadrant Housing, which bought the site.
Charles Chandler, whose family owned the stadium since it opened, sold the venue after suffering dwindling profits.
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