West Ham United London Stadium deal costing taxpayers £19m a year
The London Stadium deal between West Ham United and City Hall costs taxpayers £19m a year, the stadium company’s chair has revealed.
A deal signed in 2013 between then Mayor of London Boris Johnson and bigwigs at the Hammers sees the former Premier League side pay £4.6m in rent per year, dropping this season due to their relegation to the second tier.
And the 99-year lease deal, co-signed by former West Ham chief Baroness Karren Brady, has no break clause on the side of the Greater London Authority.
“We are going to finalise the accounts at around a £19m operating loss,” Lyn Garner, chair of the London Stadium LLP, told the London Assembly Economy Culture and Skills Committee this week, according to MyLondon. “This is not unusual. It’s been in this ballpark for some time.
“We have a few peaks and troughs, depending on how many summer events we have. 2025-26 was a particularly bad year for London Stadium, with only two summer concerts. This year is a bit better. With this summer, we’ve just hosted six events, five concerts and Soccer Aid.
“That’s helping with the finances. But, of course, it’s one step forward and two steps back because of the relegation reduction. So, we’re still in the same ballpark of about £19m.”
West Ham in epic deal
West Ham have undergone a major overhaul in recent months with the resignations of Brady and joint-chair David Sullivan. Sullivan stepped down “following impending historic personal allegations”. West Ham’s arena hosted Take That and Metallica this summer.
Garner added: “We have managed to drive efficiencies over several years. Commercial deals are much better than ever they were for the commercial rights that we own.
“However, of course, we remain responsible for all the overheads, all of the repair and maintenance for a huge national venue.”
The London Stadium could recoup some cash by hosting the 10-day World Athletics Championships in 2029. But, despite government backing, there is some reluctance from the football club over how long the pitch would be out of action.
Garner concluded: “The relationship with the football club historically has been quite tense,” she told Assembly Members. “We’ve disagreed on interpretations around the contractual piece. And I don’t think that’s any surprise when the taxpayer is under such a huge pressure.
“I’d like to see the whole thing set aside and to start again, but I can’t see that happening.”