THE return of greyhound racing to Walthamstow Stadium is no closer following the latest meeting between the owners and a millionaire businessman who wants to buy the site.

Bob Morton, who wants to bring the track back into use alongside a housing development, could not agree a deal during a meeting with London & Quadrant (L&Q) bosses on Friday (September 10).

The millionaire racing fan says he is not prepared to meet L&Q’s asking price, which is understood to be the £18 million the housing association paid for it in 2008.

But there is confusion over how much has been offered, with Mr Morton claiming he is prepared to pay £9 million but L&Q insisting he has only offered £4 million.

L&Q will now press ahead with its plan to build housing and as yet unspecified leisure faciltities on the Chingford Road site.

Mr Morton said: "They were not prepared to sell it for less than they bought it for, and I was not prepared to pay that amount.

"I was offering £9 million, they paid £18 million. They are pursuing the plans.

"I'm still there is things don't work out for them, but they have got to be willing.

"They are hell-bent on carrying on with their scheme. "At the end of the day, they own the site and they have power over it. One has to accept what they say.

An L&Q spokesman said: "The meeting was cordial and discussed certain elements of his proposals, but no new offer was received and Mr Morton made it clear that no new offer would be made.

"In light of this we will now continue with our plans to develop a residentially led scheme in full consultation with local residents over the coming weeks and months."

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