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Assembly member wants West Ham to own London Stadium as losses reach £19m a year
The Championship club pays at most £2.5m a year to use the publicly owned venue, which loses about £19m, and the mayor says he will look at credible offers.
Key facts
- The GLA-owned operator, London Stadium LLP, loses around £19m a year
- West Ham's rent has been no more than £2.5m a year since relegation, under a 99-year deal from 2013
- The operator has asked Newham Council to allow 24 concerts a year, up from 10
- The mayor's office says it is open to any credible proposal
Bassam Mahfouz, a Labour member of the London Assembly, has called for the London Stadium in Queen Elizabeth Park to be sold to West Ham United, describing the club’s rental arrangement as “disastrous” for taxpayers.
In a letter to Sadiq Khan, he asked the mayor to consider a sale as a way to end the millions of pounds the venue loses each year. The operator, London Stadium LLP, belongs entirely to the Greater London Authority. That means its annual deficit of around £19m ends up being covered from the public purse.
The mayor’s office said Mr Khan was open to “any credible proposal”, as long as it gave taxpayers value and safeguarded the public interest. The club did not comment.
What West Ham pays to rent the London Stadium
West Ham moved in under a 99-year agreement signed in 2013. Since dropping into the Championship, the club’s annual rent has been no more than £2.5m. Stewarding, policing and pitch upkeep are paid for by the stadium rather than by West Ham.
The stadium company is trying to bring in more money. It has asked Newham Council to let it stage 24 concerts a year, up from 10. The club gets first call on the ground during the football season, though. In July, stadium boss Lyn Gardner told the assembly that converting the pitch back for football after another event could take two weeks. She also said West Ham’s say over naming rights had killed off sponsorship deals.
Why a sale is being proposed
Mr Mahfouz said the club had “very little incentive” to accept extra concerts while the season is running. “The deal cannot be renegotiated,” he said. In his view, that leaves a sale as the only new option worth putting forward.
He added that any sale should keep athletics possible at the ground, which served as the Olympic Stadium for London 2012.
Key questions
Who owns the London Stadium?
The operator, London Stadium LLP, belongs entirely to the Greater London Authority, so its losses are covered by public money.
How much rent does West Ham pay for the London Stadium?
No more than £2.5m a year since the club dropped into the Championship. It moved in under a 99-year agreement signed in 2013.
Will the mayor sell the London Stadium?
The mayor's office said he was open to any credible proposal, as long as it gave taxpayers value and safeguarded the public interest.
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