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Problem upon problem for stadium

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Problem upon problem for stadium

The London Stadium naming rights saga continues to face problem upon problem writes Sean Whetstone.
After 10 years or more the wait for the Stadium owners to find a “partner” goes on relentlessly. Last November Allianz were reported as the front runner suggesting a deal was imminent.

Problem upon problem for stadium

This, however, has been described as wishful thinking by club insiders. The Hammers  retain the right to veto of any deal but have yet to be approached for final a final sign off. And that indicates a deal is NOT as close as the London Stadium owners would like taxpayers and politicians to believe.
That story was likely leaked by those close to the London Stadium in an attempt to keep some pressure off from London Assembly members who have been scrutinizing LLDC’s handling of the naming rights sale.
This is especially pressing with a Mayor of London election due in May and political elements to the long running issue .
Apart from the premature report of a deal, there remains a number of other disputes on the Stadium naming rights which need to be resolved.
Some of the advertising rights said to be included in the naming rights package  have already been sold to West Ham who have no intention of handing them back. There is a further dispute over revenue sharing of the rights.
West Ham believe they are entitled to share 50% of the naming rights revenue after the first £4m over the life of the sponsorship contract while the stadium owners believe the contract states that naming rights revenue is only shared after £4m per year.
Both these issues will need to be resolved for West Ham to give permission and so this could run and run.
 
Two naming rights agencies, IMG and ESP, have been used by E20 Stadium in its work to secure a naming rights partner.

IMG was engaged from 2013 to 2015 and was paid £260,000. ESP, part of the WWP Group, was engaged from 2015 to 2016 and was paid £187,000.

In 2016 a deal with Mahindra, an Indian technology giant and car maker was agreed and then collapsed.

In 2017 Vodafone also abandoned plans to sponsor the London Stadium in a £20m deal.

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Hugh Southon is a lifelong Iron and the founding editor of ClaretandHugh. He is a national newspaper journalist of many years experience and was Bobby Moore's 'ghost' writer during the great man's lifetime. He describes ClaretandHugh as "the Hammers daily newspaper!"

Follow on Twitter @hughsouthon