The London Stadium has been valued at just £1.5m by its owners E20 Stadium LLP in a report published for the LLDC board meeting held on 23rd November.
The former 2012 London Olympic stadium cost over £750m to build was valued at Nil last year.
The assessment considers the business plan of how much income the stadium could make in excess of its operating cost and what a potential un-pressured buyer would pay for the stadium in the current market. The valuation is considerably down from a £40m valuation in 2015.
Figures in the same report show rental income of just under £5m but total losses of £29m with £27.7m lost by E20 Stadium LLP and £1.4m lost by London Stadium 185.
London Stadium 185 is a wholly owned subsidy of E20 Stadium LLP which in turn is a wholly owned subsidy of the London Legacy Development Agency (LLDC)
London Stadium 185 are due to publish their financial accounts before 31st December at Companies house.
Need board to put offer in for stadium, I think it’s generally accepted that the board are only at West Ham for the money they can squeeze from the club. I honestly couldn’t care less if they earned £ billion as long as they go asap
Bit of a steal that 1.5mill and hopefully we can buy that send the athletics to Brum or crystal palace even and get in new owners that will put in the cash needed for competing for the top spots. Bad year 2020 now getting better with USA and EU and an elephant getting his freedom too ,roll on 2021.
Got to love Accountants, they love a little EBIT and EBITDA, they can make anything look like a loss. Mind you if we could get it for £1.5M then I would bite teir hands off!