A CHRISTMAS promise of up to 20,000 jobs and new housing has been made to Greenwich residents by the basketball billionaire leasing the Dome.

Oil magnate Phil Anshutz, who owns the LA Lakers, pledged to invest £4bn in developing the area around the Dome site into homes and offices in Greenwich.

But his consortium, Meridian Delta Limited (MDL), is yet to sign on the 999-year-lease, which will enable it to convert the building into a 20,000 seat sports arena.

And Lord Falconer, the minister in charge of the Dome which cost £758 million of lottery cash has admitted the deal will probably not be agreed before May, next year.

Greenwich council leader Chris Roberts said: "The proposals announced today meet all of our expectations for the site and should help to sustain the regeneration of Greenwich and the Thames Gateway area.

"The boost to local employment will be substantial and the prospect of new social housing is very exciting.

"Added to that are improved transport links which will bring benefits to the whole borough and beyond."

Despite his optimism, the contract is yet to be signed because the consortium is still wrangling with the Government over what proportion of profits will go back to the taxpayer.

The Government is demanding a £500m rebate to the taxpayer over two decades, but the consortium is yet to be convinced.

Spokesman for MDL, Johnny Popper, said: "We have now been given exclusive rights to the Dome, and will go into discussion with the government over the financial detail, with a view to a final agreement in late spring."

December 28, 2001 15:01