The LLDC also admitted to the committee that the London Stadium 185 operator contract is also loss-making costing £3.5m to fund even though the French operator’s bid promised a £5m surplus. They admitted the revenue currently generated by LS185 does not cover their fixed fee of £5.8m plus West Ham’s rent of £2.6m.
LLDC Deputy CEO Gerry Murphy confirmed the loss-making status of the Stadium and the LS185 is unlikely to change any time soon. The reduction of the Stadium losses from £20m last year to £15m is almost exclusively down to a reduction in seat moves from £10.8m down to £4.6m mostly because they didn’t move the East and West stands for the Athletics this summer.