Text  Larger | Smaller | Default

NewsNow

LLDC blame West Ham for stadium losses


Filed: Thursday, 6th September 2018
By: Staff Writer


The Chief Executive of the London Legacy Development Corporation says the Olympic Stadium will lose money "for the next 97 years".

And Lyn Garner, speaking at a London Assembly meeting claimed that the deal with West Ham - in which the club pay 2.5million per annum to rent the stadium for 19 days per season - was chiefly responsible for the shortfall.


LLDC Chief Exec, Lyn Garner [source:YouTube]


"What is really driving the problems here are the low rents paid by the concessionaires, particularly West Ham," Garner told the Assembly.

"The elephant in the room is the fee that they pay us in a usage cost does not cover the event-day costs, and that's before we go anywhere near a commercial advantage.

"It simply does not cover the costs of running events on a day-to-day basis.

"The stadium is a centrepiece of the legacy of the Queen Elizabeth Olympic Park. It's really important that we tackle the public subsidy issue over the next few years. There is much to do and many reasons for it."





Related News

   arrow   West Ham remain in 'best brands' top 20 [16th May 2019]
   arrow   Hasenhuttl set to ring the changes [3rd May 2019]
   arrow   OSB deny ISA takover bid [2nd May 2019]
   arrow   Credit where it isn't due [30th Apr 2019]
   arrow   Pre-match press conference: Brendan Rodgers vs West Ham Utd [19th Apr 2019]
   arrow   No singing the blues [1st Apr 2019]
   arrow   West Ham United 0-2 Everton [30th Mar 2019]
   arrow   In brief - Friday's news round-up [29th Mar 2019]
   arrow   Pellegrini still hopeful of Euro spot [28th Mar 2019]
   arrow   Nasri set to miss Everton clash [28th Mar 2019]



Your Comments


Please note that this section is for comments relating to the above news item only. Any off-topic or abusive posts will be removed. Posts including either links and/or foul language are automatically filtered and will not be published. To engage in further discussion on any of our news stories, visit the KUMB Forums.

Not a member of the KUMB Forums? You may register for free membership here.

comments powered by Disqus
 
News Image




On This Day ...

One Year Ago
In brief - Thursday's news round-up
Get the very latest West Ham news in one place, with our new daily media ro...more
Three Years Ago
L'OM slap 40million price tag on West Ham target Batshuayi
Marseille will refuse to sell West Ham target Michy Batshuayi for less than 40million due to a sell...more
Five Years Ago
Jack Collison leaves West Ham
Jack Collison is one of the higher-profile names not to be offered a new contract by West Ham this s...more