Stadium owners settle Hammers dispute
London Stadium owners E20 Stadium financial accounts published last week reveal they received £8,563,000 in exceptional income to partially resolve legal disputes with West Ham United and legal firm Allen & Overy.
The London Legacy Development Corporation (LDDC) and E20 Stadium brought a claim against the legal firm over advice given in 2013 when West Ham United Football Club was confirmed as the main tenant of the stadium.
A series of legal disputes followed between the owners and the club over the contract that governed the club’s 99-year lease.
The Hammers accounts reveal the club paid £6,529,000 in two payments to E20 for a windfall tax after selling 27% of the Hammers to Daniel Kretinsky.
Subtracting the Hammers payment means it is very likely that Allen & Overy paid out £2,034,000 in an out of court settlement compensation package for creating the 2013 concessionaire agreement between West Ham United and London Legacy Development Corporation.
Now, in a joint statement released today, the parties said: ‘E20 Stadium LLP, London Legacy Development Corporation and Allen & Overy LLP have reached a resolution of the litigation between the parties concerning the March 2013 WHU concession agreement. The terms of the settlement are confidential.’
The stadium owners had reportedly originally claimed for £12m in the case brought in 2020. They alleged that the concession agreement cost them tens of thousands of pounds in lost revenue per season, and that they had a responsibility to protect taxpayers’ interests.
At the time Allen & Overy said the claim was entirely without merit and would be defended vigorously.