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   Corporate fans set to snub price hikes [20th Mar 2019]
   arrow   Pre-match press conference: Jan Siewert v West Ham Utd [video] [15th Mar 2019]
   arrow   Horsing around: Hammer hoping for Festival success [11th Mar 2019]
   arrow   Cardiff won't be easy, warns Fredericks [8th Mar 2019]
   arrow   English fans are 'too quiet', says former Hammer [7th Mar 2019]
   arrow   Post match press conference: Rafa Benitez v West Ham Utd [audio] [3rd Mar 2019]
   arrow   West Ham Utd 2-0 Newcastle Utd [2nd Mar 2019]
   arrow   Noble hails ultimate team player [1st Mar 2019]
   arrow   In brief - Tuesday's news round-up [26th Feb 2019]
   arrow   The opposition view: Fulham [25th Feb 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 Posts including either links and/or foul language are automatically filtered and will not be published.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
Irish legend backs Rice
Former Ireland star Richard Dunne has backed Declan Rice to be a major succ...more
Three Years Ago
West Ham Utd 6-5 All Stars (7-7 on pens)
The sun and the stars came out for Mark Noble's testimonial at the Boleyn Ground this afternoon....more
Five Years Ago
Coming home
The son of a former West Ham fans favourite is hoping to deal a fatal blow to the Hammers when Hull ...more