London Stadium owner losses reach £257m
E20 reported London Stadium income of just £5.7m of which they say £5.4m came from Operator London Stadium 185 of which £2.7m of that came from West Ham directly in rent company accounts reveal.
Cost of sales for the stadium was recorded at £17.3m and the annual loss for the year was recorded at £27m or £34m for the group when financing factors were included. Accumulated losses for E20 have reached £257m.
The London Stadium itself was valued at Nil in the accounts because of the cost of hosting of West Ham United and the relocatable seating moving from football mode and athletics mode.
London Stadium 185 (LS185) have also published their accounts this week following their sale by Vinci to E20 last January for £1m.
Turnover for the now public-owned stadium operator is up to £29.3m based on 15 months due to a financial year-end change
Cost of sales were recorded as £16.75m leaving a gross profit of £12.6m wiped out by administrative costs of £13.2m leaving a loss of £651,340 for 15 months.