West Ham Olympic Stadium deal revealed
by Matthew Campelli | 15 Apr 2016
West Ham contributed £15m of the £272m renovation costs
West Ham United will pay £2.5m (US$3.5m, €3.1m) a year to rent the Olympic Stadium in East London, although all running costs for the stadium will be covered by the taxpayer subsidised London Legacy Development Corporation (LLDC).
The LLDC – which operates the Olympic Park on behalf of City Hall – published the full details of the deal it struck with its new tenants following a court order this week, which will see the Premier League club move in for the start of the 2016/17 season.
Running costs such as undersoil heating and floodlighting, dugouts, changing room and toilet maintenance, security, cleaning and corner flags will be covered by the LLDC.
The 207-page document produced by the LLDC also revealed that the operator will keep the first £4m (US$5.7m, €5m) of any naming rights deal West Ham can strike for the stadium, with anything over that being split 50-50. The LLDC will take the first £500,000 (US$707,294, €627,842) of catering profits, with a 70-30 split thereafter.
Conversion costs to make the stadium suitable for football totalled £272m (US$384.8m, €341.5m), with West Ham chipping in £15m (US$21.2m, €18.8m).
West Ham has a 99-year lease on the ground. If the club is relegated to the Championship its rent will be halved to £1.25m (US$1.8m, €1.6m) per annum.
West Ham Premier League LLDC Olympic Stadium12 Apr 2016
LLDC forced to publish details of West Ham Olympic Stadium deal
14 Mar 2016
West Ham eyes Olympic Stadium capacity expansion
06 Aug 2015
Taxpayers to cover most of West Ham stadium costs
12 Jan 2015
West Ham to begin selling season tickets for Olympic Stadium in April
11 Feb 2014
West Ham signs deal to sell stadium in 2016
West Ham United will pay £2.5m (US$3.5m, €3.1m) a year to rent the Olympic Stadium in East London, although all running costs for the stadium will be covered by the taxpayer subsidised London Legacy Development Corporation (LLDC). The LLDC – which operates the Olympic Park on behalf of City Hall – published the full details of the deal it struck with its new tenants following a court order this week,
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