Stadium owners face ‘finances’ demand

Budget chiefs at City Hall are now demanding to see the finances of the owners of West Ham’s London Stadium.

Amid growing financial difficulties, the London Assembly Budget and Performance Committee has issued a summons notice requesting the 2016/17 annual accounts for E20 Stadium LLP.

E20 has been given two weeks to provide the documents.

Committee Chair, Gareth Bacon, said: “This company spends vast amounts of public money, and we know that it is in financial difficulty – but we have been prevented from seeing the accounts of E20 Stadium LLP. Why?,” said committee Chair and Tory assembly leader Gareth Bacon.

A spokesperson for LLDC said it and Newham Council were working closely with E20 “to address the long-standing financial challenges in the best interests of the residents of Newham and Londoners”.

The move comes at a time when a top accountancy firm is working to deliver a report into the overspend on converting the stadium for the Irons.

The then mayor Boris Johnson budgeted £115m which has now nearly doubled to £323m.