Gold’s OS “well done” to ClaretandHugh

David Gold has told his 125,000 Twitter followers that ClaretandHugh’s rebuttal of  yesterday’s widespread sensational headlines claiming tax payers would foot West Ham bills for the Olympic Stadium running costs are FALSE.

Gold tweeted out “Well done Claret and Hugh  the first one to get it right. dg”

Yesterday we explained  that headlines from Sky Sports, The Guardian and the Daily Mirror were very misleading as the tax payer will not be further funding the stadium.

We explained the bills will actually be paid by stadium operator Vinci on behalf of stadium owner E20 Stadium LLP which is owned by both the LLDC and Newham Council.

And the club’s co chairman immediately tweeted that we had nailed the truth of the deal.

The Stadium is expected to make a very conservative £200,000 profit per year so all running costs are included and not paid by the tax payer. West Ham will pay a rent of £2.5m rent but pay further bonuses on Premier League positions above tenth place.

The club will also pay extra if they win the FA Cup, Europa League or the Champions league plus extra cash if they qualify for Europa League or Champions League. The rent and bonuses are also index linked meaning it will increase with inflation over the 99 year term.

When  Stadium naming rights, the LED wrap and pitch side advertising, catering and pouring profits and renting the stadium out to Rugby, NFL American Football, music concerts plus other possible renters are added  the tax payer will in fact be in profit!

This is either  deliberate misunderstanding of facts by the media or yet another attempt to undermine our success in landing the deal to become anchor tenants.