A football chant usually reserved for referees of ‘You don’t know what you’re doing!’ could be said of London Stadium owner E20 and the LLDC.
Yesterday, London Assembly members at City Hall heard that the LLDC don’t even understand their most basic costs at the London Stadium never mind their losses.
On 27th September LLDC director, Gerry Murphy told London Assembly members at a committee that E20 lost £250,000 per West Ham match day. Karren Brady wrote to the LLDC following that public meeting in September to challenge the misleading figures and immediately revised the figure to £83,000 net loss per match day according to Brady. Yesterday the West Ham Vice Chairman giving evidence at City Hall said that Murphy had supplied a third figure of £43,000 loss per West Ham matchday this week and Brady claims she still doesn’t believe that is correct.
Claret and Hugh own figures indicate around a £38,000 surplus per West Ham match day for running costs when taking into account rent, share of catering, pouring rights and advertising. If LLDC ‘s senior executives don’t understand their actual costs of the London Stadium what chance is there to solve the massive losses facing E20?
