Deal Revealed: West Ham To Effectively Pay Just £48,000 Weekly Rent At Olympic Stadium

Chris Wright

14th, April 2016

8 Comments

olympic-stadium-west-ham

It’s been revealed that West Ham will pay £2.5million per annum to rent the Olympic Stadium for the next 99 years, beginning next season.

The stadium’s owners, the London Legacy Development Corporation (LLDC) today lost their appeal against a long-running legal battle and were forced to publish the full details of their concession agreement with West Ham as a result.

The Hammers will effectively be paying £48,000 per week in rent while the taxpayer continues to cover the rest of the running costs. This coming after the stadium cost over £270million of taxpayer’s money to build in the first place. Some legacy.

Just to put West Ham’s paltry rent in context, Bournemouth currently pay more to rent Dean Court. Man City paid £4.4million to rent the Etihad for the 2014/15 season.

Indeed, West Ham could pretty much cover their entire yearly rent bill by selling out one game at the 60,000-seater arena and charging £45 per ticket.

As is stated in the LLDC contract, West Ham will have to pay an extra £1million if they win the Champions League and an extra £100,000 if they win the FA Cup or Europa League, or finish in the top five of the Premier League.

What thoroughly gullible landlords they must have.

 

 

Posted in Newsnow, West Ham Utd

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8 Comments

  1. PT says:

    Can you tell me the alternative tenants willing to stump up more cash?

  2. JimBob Jones says:

    closer to £500k a week if you prorated usage, but i see where you are going with the headline

  3. JimBob Jones says:

    closer to £500k a week if you prorated usage, but i see where you are going with the headline

  4. Ray says:

    What a biased & one-sided article! West Ham are paying £2.5m to rent the stadium for 25 days a year – that’s £100,000 per day not £45,000 per week. The LLDC are free to rent the stadium for the remaining 340 days which will bring in more income. The LLDC will also get a share of the naming rights, the lion’s share of the catering income & much more. West Ham will be just one tenant among many. If you’re going to write an article at least tell the truth.

  5. BayJayZus says:

    That figure is grossly misleading West Ham do not have use of the stadium for 52 weeks. A more accurate figure is £100,000 / game. West Ham will actually only normally rent the stadium for 25 days per year. So they actually have less days use than British Athletics will receive for free!

  6. cb says:

    and around6m in naming rights. So they pay double what Man City pay at least. Looking the wrong direction for the dodgy deal here

  7. Gray says:

    Typical lazy, half attempt at journalism… Chris, do you work for the Daily Mail at all?

  8. Actually £700,000 per week!!!. £100,000 per day, there are seven days in a week so simple maths shows West Ham will pay £700,000 per week. We can all spin figures in headlines you know

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