Earlier this week, the Mayor of London Sadiq Khan approved the change of ownership of the London Stadium moving from the London Legacy Development Corporation (LLDC) to GLA Holding Limited, a fully owned subsidiary of the Greater London Authority (GLA) with a nominal one-pound changing hands.
Owners E20 Stadium LLP and operating company London Stadium 185 will now be fully owned subsidies of GLA holdings Limited.
GLA holdings also purchased SELH (Stratford East London Holdings) Limited for a nominal fee of £1 which owned 1% of London Stadium LLP.
The mayoral decision objectives include rationalising the stadium’s operation and creating a new London Stadium board will now concentre commercial arrangements for the stadium.
The GLA funds operating losses of the London Stadium to the tune of over £17m each year.
The Mayoral decision approval paperwork seen by Claret and Hugh and signed by Sadiq Khan on 14th January shows the transfer of the London Stadium will fully complete on 31st March 2025
If they’ve transferred ownership of a property did they pay stamp duty 🤷♂️. Probably one rule for them & one for the people.
There’s a lot of whingeing about the London Stadium mainly from the ‘Boleyn Ground or nothing’ brigade, but the fact is loads of grounds across Europe teams play in athletic stadiums and you never hear any moaning from them. Remember the old “iconic” Wembley Stadium? You were about half a mile from the pitch there and it was never commented on. People look back at Upton Park wearing rose-tinted spectacles, I’ve stood on the old North Bank and you could’ve heard a pin drop it was so quiet. Why? Because the game was boring and the football was crap, same as it’s been at London Stadium for much of the time. Let’s hope that changes pronto with Potter! COYI !
Totally agree mate. You have to move with the times or get left behind ⚒️
Said Nothing . RUBBISH.
Tax payers and football fans Need to know How it was possible have such Extortionate costs from West Ham paid by the public.
What is the Answer ?
It’s beeb swept under the Carpet AGAIN !!
Can somebody ask Daniel Kretinsky to build West Ham a new football stadium which is fit for purpose?
Everything Sadiq khan touches turns to **** sooner or later and this is no different.
It’s about time we had new owners but they have to be passionate about football as well as business.
Should we have moved from the Boleyn, not in my opinion no, was better off building a new stadium on the same site instead of a useless hotel and sharing with Leyton orient maybe.
We need Someone with vision for the club who wants to make it big for the right reasons not just for their own profit.
ANYWAY….that’s my opinion and yours may well differ but that’s ok your entitled to think for yourself and I respect that.
⚒⚒⚒ COYI ⚒⚒⚒
⚒⚒⚒ IRONS ⚒⚒⚒
⚒⚒⚒ WHUTID ⚒⚒⚒
My opinion is that “Eloise” was a really great song! I thought you may have been THAT Barry Ryan until I had a quick look in Wikipedia and discovered the singer died in 2021.
Anyway, I take it you don’t much like David Sullivan’s running of the club. I guess you are not alone!
Stadium needs t take about £330.000 a week just to break even, how’s that going happen.
I don’t trust Sadiq Khan as far as I can throw him….. I’ll bet money that he and his cronies have found a loophole, and the current contract will be deemed not fit for purpose, which it probably isn’t, given the losses incurred. Obviously, I hope I’m wrong, but Khan loves a headline, and making the stadium profitable would be a proper feather in his cap. Having said that, almost everything he oversees operates at a loss!
West ham Rob the Taxpayers Every week !!
Man I hate this stadium 🙁
Not my West Ham anymore and too old school to change. Stopped going to the Souless Bowl. Owners treat fans like ****e and hope they sell up soon and go!
I wonder how this affects the, ‘club’ value.
It will be interesting or painful
Have to say the small print is difficult for me to understand right now, but just feel it’s common sense if what you are managing is making a massive loss each year, (17 mil.) gotta be wise to get rid, Surely owning a stadium is a bit like owning a football club isn’t it, if you don’t get the last piastas in the bank you go pop.
.
So that is the end of Olympic Legacy then? Probably see the plans for flats, offices and shops pretty soon. Another political carve up. Politicians aren’t in it to remain poor.
Contracts will be revisited. Old agreements modified with new ‘owners’. New rental charges about to be imposed.
Should never have moved in my opinion.
I completely agree with you 100% A Bad bad decision to have moved and this really hurts me to say this and I’m disgusted by saying it but look at what the Spud’s did with building their new ground…
Ultimately, the board have a contract that will surely have been fully checked and double by checked by lawyers and I’m sure the same happened again about this.
It’s going to be interesting to see if this is going to cost the club more money and if so by how much and if it gives us any more rights (highly unlikely) but ultimately, there is a lease in place for a very long time, so unless we get new owners, nothing changes really for us and it’s highly likely that nothing will change in terms of running cost losses because, let’s face it, it’s been a very poorly run venture so far.
Still, I’m sure those that signed off the deal(s) were very happy with their work and profited well.