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Hammers could rent London Stadium for £1

By Sean Whetstone

Earlier this week we reported that London Stadium owners London Legacy Development Corporation (LLDC) will be wound up and will cease to exist by 2025.

And we added they are open-minded for West Ham to take more control of the stadium.

LLDC CEO Lyn Garner even suggested a long lease like that allegedly offered to PAI Capital could be on the cards which would give the Hammers full control including operations, catering and other events.

Earlier this week stadium owners E20 Stadium LLP owned by LLDC published their accounts at companies house revealing fresh losses of £24m which was an improvement on the £29m lost pre COVID.

It is now clear that the stadium loses money with or without athletics, music concerts, baseball or supporters attending West Ham games.

The question remains how much West Ham would be prepared to pay LLDC for a long lease of the stadium and/or how much PAI Capital agreed to pay them during secret negotiations.

With massive losses, West Ham would be forgiven for asking for a long lease on a nominal rent of say £1 per year for the next 99 years.

The Hammers would then need to hope their football and stadium experience and expertise would help plug the massive financial losses by finding a naming rights partner, staging other profitable sporting and music events, revamping catering and making money from other corporate events.

It would be a massive financial risk for West Ham to take on the London Stadium but they could make it work replacing years of mismanagement and poor business strategy.

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About Sean Whetstone

I am Season Ticket Holder in West stand lower at the London Stadium and before that, I used to stand in the Sir Trevor Brooking Lower Row R seat 159 in the Boleyn Ground and in the Eighties I stood on the terraces of the old South Bank. I am a presenter on the West Ham Podcast called MooreThanJustaPodcast.co.uk. A Blogger on WestHamTillIdie.com a member of the West Ham Supporters Advisory Board (SAB), Founder of a Youtube channel called Mr West Ham Football at http://www.youtube.com/MrWestHamFootball, I am also the associate editor here at Claret and Hugh. Life Long singer of bubbles! Come on you Irons! Follow me at @Westhamfootball on twitter