West Ham in talks to purchase London Stadium as taxpayers bear financial burden
West Ham’s current rental of the London Stadium may soon become a permanent purchase, as the true extent of the financial burden on the current owners at the taxpayers’ expense is exposed. Unaudited accounts reportedly show the landmark venue suffered a £31.1 million operating loss in 2022, with a rise in costs that aren’t covered by the club. Lyn Garner, CEO of the London Legacy Development Corporation, admitted that “year-on-year deficits” were unavoidable given the 90-year contract between the club and the public sector. West Ham’s current deal sees them pay a rental fee of £3.6 million while taking all ticket money without the cost for heating, cleaning or maintenance. Czech billionaire Daniel Kretinsky is a major shareholder in the club and could look to take over the club and the stadium itself.
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