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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."





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