Following West Ham’s acceptance of the “deal of the century,” the London Stadium’s landlords reached a legal settlement.
With the stadium projected to lose money, finance expert Kieran Maguire exclusively discussed the worth of West Ham’s rental agreement with Football Insider.
E20 Stadium LLP, the London Stadium’s landlords, disclosed in their 2022–2023 financial statements that they received £4 million in rent from West Ham.
It is predicted that the London Stadium will experience operating losses of around £232 million in the future.
Three years prior to the Hammers’ 2016 move in, the team signed a 99-year lease for the stadium.
Maguire acknowledged the importance of West Ham’s stadium arrangement and disclosed that the original agreement was settled through litigation.
“What is referred to as the deal of the century benefits West Ham,” Maguire told Sean Fisher of Football Insider.
“That’s referring to the rent they pay for the London Stadium, which is £3.6 million despite the fact that the stadium has much higher operating expenses.
“Looking at Spurs, their depreciation expenses for the new stadium come to about £70 million.
“The advantages far exceed the disadvantages.
“It’s interesting to note in the landlord’s accounts that there was a legal settlement with the lawyers who drafted the contract, giving West Ham a long-term benefit as well as a fantastic financial benefit that they would be foolish to walk away from.”
