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Stadium owners face ‘finances’ demand

stadiumBudget chiefs at City Hall are now demanding to see the finances of the owners of West Ham’s London Stadium.

Amid growing financial difficulties, the London Assembly Budget and Performance Committee has issued a summons notice requesting the 2016/17 annual accounts for E20 Stadium LLP.

E20 has been given two weeks to provide the documents.

Committee Chair, Gareth Bacon, said: “This company spends vast amounts of public money, and we know that it is in financial difficulty – but we have been prevented from seeing the accounts of E20 Stadium LLP. Why?,” said committee Chair and Tory assembly leader Gareth Bacon.

A spokesperson for LLDC said it and Newham Council were working closely with E20 “to address the long-standing financial challenges in the best interests of the residents of Newham and Londoners”.

The move comes at a time when a top accountancy firm is working to deliver a report into the overspend on converting the stadium for the Irons.

The then mayor Boris Johnson budgeted £115m which has now nearly doubled to £323m.

 

About Hugh5outhon1895

Hugh Southon is a lifelong Iron and the founding editor of ClaretandHugh. He is a national newspaper journalist of many years experience and was Bobby Moore's 'ghost' writer during the great man's lifetime. He describes ClaretandHugh as "the Hammers daily newspaper!" Follow on Twitter @hughsouthon

2 comments on “Stadium owners face ‘finances’ demand

  1. This worries me , as I’m not sure the owners could afford to buy out E20. Also Newham Council will be really struggling financially as well. The crunch is going to come when the Mayor sees all the reports and these accounts later this year.

  2. Totally agree ! 💩 will hit the fan soon ! Just what the club needs isn’t it lofl!
    Its what some of us has been saying since the deal was made ! West ham will get the stadium at a cut price as they hold all the plus,s and hopefully convert it to a football stadium
    😉 OK forget that last bit ! Maybe sell up when forced to maybe by the supporters ?😎

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