ArcelorMittal Orbit, Olympic Park In Stratford, London

Funding
At the time of its public launch, the total cost of the Orbit project was announced as £19.1m. ArcelorMittal was to fund up to £16m of the cost, with the remaining £3.1m being provided by the London Development Agency. This consists a £10m cash donation, and £6 million in underwriting of capital costs, which could be potentially recovered from profits generated after the Games. According to Johnson, the cost of the project would be recouped after the games through the private hire of a dining area at the top of the tower, predicting it would become a "corporate money-making venture".
Mittal said he was immediately interested in the project after he remembered the excitement that surrounded the announcement that London had won the Olympic bid. He saw it as an opportunity to leave a lasting legacy for London, showcase the "unique qualities of steel" and play a role in the regeneration of Stratford. Mittal said of his involvement in the project, "I live in London – I’ve lived here since 1997 – and I think it’s a wonderful city. This project is an incredible opportunity to build something really spectacular for London, for the Olympic Games and something that will play a lasting role in the legacy of the Games."
Advisory panel member and director of the Tate gallery, Nicholas Serota, said Orbit was "the perfect answer to the question of how sport and art come together", and praised Mr Mittal's "really impressive piece of patronage" for supporting a "great commission".