U.K Athletics would come off the big losers if E20 Stadium LLP is forced into administration as speculated in recent weeks.
The athletics 50-year contract is only with E20 with no contractual protection from the London Legacy Development Corporation (LLDC) or central government.
In contrast, West Ham’s contract is underwritten by the LLDC who are listed alongside E20 in their 2013 concessionaire agreement.
LLDC owns the freehold to the Queen Elizabeth Park with assets worth many billions and a clause in the Hammers deal says that central government must honour the 99-year contract with West Ham even if LLDC ceases to exist in the future protecting West Ham’s position for years to come no matter who owns the stadium.
Stadium operators London Stadium 185 owned by French company Vinci also have a 25 year contract with both E20 and LLDC giving them some protection also should E20 go bust.
Former LLDC CEO David Goldstone once told a London Assembly scrutiny committee that it could cost up to one billion pounds to buy themselves out of onerous contracts relating to the London Stadium including West Ham and London Stadium 185