West Ham stadium deal costs taxpayers £19m a year
The London Stadium, home to West Ham United, is costing taxpayers £19 million annually due to a long-term rental agreement signed in 2013. Officials have criticized the deal, noting that the club's recent relegation has further reduced rental income.
Why it matters
The situation serves as a case study on the long-term financial risks of public-private partnerships and stadium management contracts.
Share Save Add as preferred on Google Kumail Jaffer Local Democracy Reporting Service Getty Images West Ham's relegation leaves taxpayers on the hook for more of its rent The capital's taxpayers are losing £19m every year due to the long-term deal signed with West Ham over the use of the London Stadium, officials have revealed.
The agreement, signed in 2013 by then-mayor Boris Johnson, named West Ham United Football Club (WHUFC) as the former Olympic stadium's long-term tenants.
The deal, which lasts 99 years and has no break clause on City Hall's side, has been criticised by London mayor Sir Sadiq Khan who blamed his predecessor for failing to obtain better terms.
This includes a clause which now sees the club pay less than half the £4.6m annual rent they were responsible for before their Premier League relegation last season.
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