LLDC ‘chief’ explains those PAI Capital talks
The London Legacy Development Corporation Executive officer Lyn Garner has revealed details of the “discussion’ held with one time wanabee owners of the club PAI Capital.
Despite West Ham later making it publicly clear that no deal would be done with the group, Garner explained the LLDC did enter a conversation with the group who received backing from Tony Cottee and Rio Ferdinand!
She was questioned by one London Assembly member at the recent meeting about the PAI Capital conversations with the LLDC over a long lease.
She explained “A consortium of individuals approached us last summer and they told us they were in advanced discussions with the club about taking a controlling interest.
They asked us if we would be prepared to go into a long leasehold position with them to take control of the multi-use stadium including football and other events and we said in principle we would be prepared to have that conversation with the detail worked out over time”
She added, “We can’t afford to not to consider anything put to us so, yes, we entered into those conversations but my understanding is the deal with the club did not come off.”
Challenged whether this is still not a potential way forward with West Ham Garner admitted “It was a live potential way forward for the stadium but the club would need to be fully engaged in that conversation and want to take on those additional responsibilities”