With West Ham continuing to struggle, a new report in The Times claims the British taxpayer would have to stump up £2m if they are relegated this season. The report claims that, under the terms of their 99-year lease for playing at the London Stadium, West Ham’s annual rent of £2.5m will be halved should the club drop into the Championship.
The report also says control of the stadium, built to host the 2012 London Olympics, was handed to the Greater London Authority, with the London Legacy Development Corporation retiring from the operating company, E20 Stadium LLP, and being replaced by GLA Holdings Ltd. However, the most recent accounts - for the year ending March 31, 2024 - highlighted an operating loss of £20.9m in public money, given that the amount of rent West Ham pay does not cover stadium operating costs.
And with West Ham currently languishing near the bottom of the table, the report concludes by saying that, given the club’s current form, there could be further expense to the British taxpayer because of an agreement detailed in the stadium concession agreement.