Owners of London Stadium forced to pay West Ham United £3.6m
The owners of West Ham United’s London Stadium have been forced to cough up £3.6m after losing a court case against the Premier League club.
E20 Stadium, set up by publicly-owned London Legacy Development Corporation (LLDC), must pay back the multi-million pound sum to the club after West Ham challenged a payment they made to the landlords after new Royal Mail owner Daniel Kretinsky bought a 27 per cent stake in the Hammers for £169m in 2021.
The High Court ruled that there were “manifest errors” in an “expert determination” – a private, binding agreement – after West Ham’s parent company WH Holding contested most of the £6.5m it paid to E20 Stadium in early 2023 relating to the increase in value of the club after Czech billionaire Kretinsky’s investment.
West Ham cash
The Irons initially paid £2.6m after Kretinsky’s stake was confirmed but landlords argued this should have been higher. The ruling stated that three share deals and a share option by the club’s owners shouldn’t have been seen as a single transaction.
Both E20 Stadium and WH Holding can appeal the decision but the judge could still impose an order on costs if he deems it necessary.
Paul Mitchell KC, deputy High Court judge, said: “In my judgment WHH has proved that the expert determination in this case contains two manifest errors. Accordingly, I shall grant the declaration sought by WHH that the determination is not final and binding on WHH.”
An LLDC spokesman told The Times: “West Ham appealed the determination, as it is entitled to do, and the court has found in its favour. We have reviewed the judgment and are currently assessing our options — including the potential for an appeal.”
West Ham United are next at home against Brentford after they travel to fellow Londoners Chelsea at Stamford Bridge next Monday.