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Finances Disclosed: London Stadium’s Value Plummets

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As the London Stadium operator begins the wind-down process, it has published its latest set of accounts with a shocking valuation.

LLDC draft accounts published in May 2024 revealed that the former Olympic Stadium is now valued at £910,000, down from £1.5 million, while amusingly the multi-storey car park is valued at £6.9 million, up from £4.5 million last year.

This surely makes a mockery of stories valuing the LS at close to a billion pounds, but it does make it interesting given that West Ham is looking to take over the running of the venue… at the right price!

The valuation should really come as no shock given the significant losses the stadium incurs every year. Despite events like this month’s Major League Baseball game, the LS has never come close to breaking even, which might explain its low valuation.

Conversion between football and athletics modes costs £4 million each year. However, even with that loss factored out of the equation the Stadium would still incur massive losses each season.

A list of the precise breakdown is listed below for your viewing pleasure.

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Hammers Chat video blogger @Gonzobignose

0 comments

  • Phil McDonald says:

    I wouldn’t give you a fiver for the stadium Gonzo, but I believe the land value of the entire park is worth billions (not just the footprint of the stadium). I believe the stadium could be bought (but why on earth would we want the white elephant?) But the land around wouldn’t come with it.

  • Fester says:

    No wonder they are in trouble. Basic maths £100,784,000 – £133,385,000 = – £32,601,000 not -£26,402,000 – thats £6.2M adrift (on the bad side)!!

  • Phil McDonald says:

    The stadium is valued as fixtures and fittings for depreciation purposes. The valuation won’t include the value of the land it sits on (the Boleyn site went for millions). If we bought the stadium it would come with a ground rent which I’m pretty certain would be more than the rent we currently pay cos we got a ridiculously good rent deal.

  • Bonzo says:

    Thought it was only built to last 25 years so love to see what it’s worth in 20 years time.

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