Rumours this morning (Mon) say the Olympic Stadium could be renamed the Samsung Stadium before West Ham move in later this year.
The whisper is that the world’s biggest electronics company has won the naming rights race and will pay the stadium owners, E20 Stadium LLP, £120m over 20 years with West Ham set to receive around £20m in stadium rent rebates as their share of the deal.
The mobile phone and TV giant are based in South Korea, have a global turnover of more than £215 billion and are just the kind of global blue chip brand the owners have been searching for.
Samsung terminated it’s £18m per year football shirt sponsorship with London rivals Chelsea in 2014 so this deal if confirmed it will come cheap at one of third of the price.
The South Korean company have previously sponsored the Diamond League athletics series at £3m per year with some meetings held at the former Olympic Stadium. Samsung are also a major sponsor of the Olympics in a deal that stretches until 2020 including the Summer Olympics in Rio later this year. During the London 2012 Olympics they sponsored the torch relay which finished in the Olympic Stadium.
Samsung also partners with the Rugby Football Union (RFU). In 2014 they signed a three year agreement that saw Samsung become the key technology supplier as the Consumer Electronics & Smartphone Partner and Official Home Technology Partner to the RFU and England Rugby Team.
Stadium mock-up credit: @WestHamSocial
3pm Update: Chairman’s Son Jack Sullivan says 1% chance or less of it being the Samsung Stadium
cheap is the operative word. 6 million a year lol.
How can it go so cheaply. We only get 1 million a year out of it while the government get 5 million.
It was always going to be a rip-off.
We have to remember that the stadium isn’t ours & LLDC can sell the naming rights to anyone at any price they want. We could count ourselves lucky to get anything out of the deal. Saying that £6m a year is a crap deal inho, we are talkin about one of the best stadiums in the country & know through out the whole world. £6m is the same amount we get from Betway every season.
It’s a 20 year deal though so they are tying up £120m of sponsorship if this rumour is true. Together with West Ham’s £50m of rent and £15m up front from the Hammers that is £185m towards the £272m. If add another £2.5m in catering profit each year and another £2m in renting out the stadium to rugby, concerts, crickets etc then you should reach the £272m cost it cost to convert the stadium over the next 20 years.
Shame a big English Company could not have brought the rites,
But if it reduces our rent to 1.5 million a year then the deal is getting better,
So we are renting the stadium for about 25 days a year & we are picking up 1m from the naming rights.Fair enough.It ain’t our stadium so how much should we expect.Lets not get greedy here,lol