London Olympic Stadium & West Ham

[NAE NOOKIE]

Been having a look at West Ham's proposed move to the Olympic Stadium. By the looks of it they have a 99 year lease at what for them will be a peppercorn rent of £2.5 million a year. They have agreed to sell Upton Park for £77 million to a developer.

The cost of rejigging the stadium to be football friendly while keeping the running track runs to close on £200 million of which West Ham's contribution runs to a paltry £15 million. Of the rest as far as I can see a portion will be paid out of some sort of London common good fund, but the majority will come from UK taxpayers money.

All the while Scotland's national stadium is a basic dump and half our grounds are badly in need of redevelopment. There has to be something badly wrong when a super rich EPL club can benefit from tens of millions of public money for next to no outlay, while we don't even have a national stadium worth the name.

Not blaming WHU here, they have played a blinder ........ but it has to be asked, if one football club can screw this much money out of the public purse why cant we ( the SFA ) do the same?

NOTE: ..... This is posted for the sake of discussion, in the sure knowledge that its close on immoral to spend public money on stuff like this at all when basic services are being squeezed.

[hibs0666]

Been having a look at West Ham's proposed move to the Olympic Stadium. By the looks of it they have a 99 year lease at what for them will be a peppercorn rent of £2.5 million a year. They have agreed to sell Upton Park for £77 million to a developer.

The cost of rejigging the stadium to be football friendly while keeping the running track runs to close on £200 million of which West Ham's contribution runs to a paltry £15 million. Of the rest as far as I can see a portion will be paid out of some sort of London common good fund, but the majority will come from UK taxpayers money.

All the while Scotland's national stadium is a basic dump and half our grounds are badly in need of redevelopment. There has to be something badly wrong when a super rich EPL club can benefit from tens of millions of public money for next to no outlay, while we don't even have a national stadium worth the name.

Not blaming WHU here, they have played a blinder ........ but it has to be asked, if one football club can screw this much money out of the public purse why cant we ( the SFA ) do the same?

NOTE: ..... This is posted for the sake of discussion, in the sure knowledge that its close on immoral to spend public money on stuff like this at all when basic services are being squeezed.

West Ham will be one of the users of the stadium. It will not run the stadium and will not have naming rights.

[Ross4356]

Disgraceful but not surprising

[HappyAsHellas]

Copied this from a West Ham forum concerning costs:

This is perhaps the most fundamental question about the move, but there has been little attempt to quantify it - most likely because the details are so vague. What the consensus appears to have settled on is that the club will pay £2.5 million a year in rent, which rises with inflation, and that share of matchday non-ticket sales and stadium sponsorship will take the LLDC's gross revenue to £10 million per annum. There are two sources for that, one a Charles Sale piece in the Mail in late 2012, and a quote from Brady at the Lords Select Committee hearing, where she said that the deal would pay for the stadium twice over (99*10 = £990 million > £500 million).

Looks like the taxpayer won't be financing this although there are seemingly some legal details to be ironed out as Arsenal have complained about it. As UK athletics (don't know their proper name) also have a summer lease on the ground, how much are they putting into the coffers?

[Andy74]

Been having a look at West Ham's proposed move to the Olympic Stadium. By the looks of it they have a 99 year lease at what for them will be a peppercorn rent of £2.5 million a year. They have agreed to sell Upton Park for £77 million to a developer.

The cost of rejigging the stadium to be football friendly while keeping the running track runs to close on £200 million of which West Ham's contribution runs to a paltry £15 million. Of the rest as far as I can see a portion will be paid out of some sort of London common good fund, but the majority will come from UK taxpayers money.

All the while Scotland's national stadium is a basic dump and half our grounds are badly in need of redevelopment. There has to be something badly wrong when a super rich EPL club can benefit from tens of millions of public money for next to no outlay, while we don't even have a national stadium worth the name.

Not blaming WHU here, they have played a blinder ........ but it has to be asked, if one football club can screw this much money out of the public purse why cant we ( the SFA ) do the same?

NOTE: ..... This is posted for the sake of discussion, in the sure knowledge that its close on immoral to spend public money on stuff like this at all when basic services are being squeezed.

Sounds like the rent and other arrangrments pays for it?

You'd also have to add in the fact the stadium is there, has been built, allowed some benefit to the UK you would imagine with the Olympics taking place and well something had to be done with it.

[HUTCHYHIBBY]

As a Hammers man it'll be interesting to see what standard of player they can attract in an attempt to sell an extra 25k home tickets. I doubt it'll be full very often. Upton Park will be missed, always a great atmosphere when I've been there. Particularly v Millwall and The Lasagnegate game v Spurs.

[Leithenhibby]

Also, are they not about 80m in debt?

I do like WHU it has to be said, but that's because of the team they had late 60's/ 70's. Then Charlie George came along :wink:

[Haymaker]

As a Hammers man it'll be interesting to see what standard of player they can attract in an attempt to sell an extra 25k extra home tickets. I doubt it'll be full very often. Upton Park will be missed, always a great atmosphere when I've been there. Particularly v Millwall and The Lasagnegate game v Spurs.

:agree: will be sad to leave Upton Park. I don't think we will sell anywhere near enough tickets to really justify it.

[St.Kristopher]

...a quote from Brady at the Lords Select Committee hearing, where she said that the deal would pay for the stadium twice over (99*10 = £990 million > £500 million)...

Looks like the taxpayer won't be financing this...


What did they make the Olympic stadium out of that it will last 99 years?

[jacomo]

The taxpayer is subsidising this to a massive degree, largely because Seb Coe threw his toys out of the pram at the design stage and refused to allow it to be designed with football as its end use after the Olympics - even though this was the only viable solution for a stadium of that size.

Easy decision for him to make as it wasn't his money he was burning.

West Ham negotiated hard to get a very favourable deal - and are now selling Upton Park for top dollar to a developer who is planning minimal affordable housing on the site.

The UK public is being ripped off three times over. Really, it's a scandal and heads should have rolled for it - but the Olympics turned out to be a massive success (largely because of the phenomenal hard work and good spirits of thousands of workers and volunteers, plus a lucky break with the weather) and everyone comes out of it smelling of roses.

[tamig]

What did they make the Olympic stadium out of that it will last 99 years?

Well the old asbestos stand is still standing in the west of Edinburgh after 100 years :-)

[Biggie]

Upton Park is an old school stadium....heart of the community. Not a great area so surprised top dollar being offered but hey ho....no way they'll get as good an atmosphere at the Olympic stadium.

Glad we stayed put...love coming round the corner and seeing the stadium....Stratton would have been awful.

[West hamBERNIAN]

Also, are they not about 80m in debt?

I do like WHU it has to be said, but that's because of the team they had late 60's/ 70's. Then Charlie George came along :wink:

Practically debt free next year I believe. In the last year of paying the tevez saga fine. The move is going to be great for me, just down the road from Stratford. it's going to look great too.

[jacomo]

Practically debt free next year I believe. In the last year of paying the tevez saga fine. The move is going to be great for me, just down the road from Stratford. it's going to look great too.

So delighted us tax payers have helped millionaire businessmen Gold and Sullivan wipe their debts... :rolleyes:

[Leithenhibby]

Practically debt free next year I believe. In the last year of paying the tevez saga fine. The move is going to be great for me, just down the road from Stratford. it's going to look great too.


So delighted us tax payers have helped millionaire businessmen Gold and Sullivan wipe their debts... :rolleyes:


I'm sure I read somewhere that they were selling a large part of their holding to clear some of their debt :agree:

And it will look the part, I for one will be paying a visit...........

http://www.dailymail.co.uk/sport/football/article-2889007/West-Ham-owner-David-Sullivan-wants-new-investment-help-club-s-debts.html

[Brunswickbill]

http://www.hw.ac.uk/news/archive/2013/heriot-watt-wins-bid-national-performance-centre-sport-13605.htm

I don't suppose that the Yams will get any benefit from the national performance centre being built at Hairy Tw@t University.

[HUTCHYHIBBY]

So delighted us tax payers have helped millionaire businessmen Gold and Sullivan wipe their debts... :rolleyes:

The days of being concerned re corruption were gone in football a long time ago, I said I wouldnae go back on the mammoth Hun thread but, I still go back now and again.

[Pete]

The days of being concerned re corruption were gone in football a long time ago.

No offence but I think there are a lot of people who would totally disagree with that. I'm glad that so many supporters (who are "football" after all) have standards and morals.

We might not be able to collectively do much about it but we can voice our displeasure.

[HUTCHYHIBBY]

Its just wasting energy though, nowts going to change anytime soon.

There's a degree of emotion involved which isnae there when you pick and choose which supermarket to go to for example.

[monktonharp]

:agree: will be sad to leave Upton Park. I don't think we will sell anywhere near enough tickets to really justify it.I will cry for you, especially when you move into a brand new purpose built stadium that my taxes helped to fund.:cb

[Keith_M]

Part of the justification for spending obscene amounts of tax payers money on the Olympics was that there would be a 'legacy' left behind.

The sensible thing would have been to do the same as they did in Manchester, where the end result was always going to be a proper Football Stadium, with the Olympics taking place in it's temporary state then the Stadium completely finished after. They could have come to an agreement with one of the London clubs beforehand, whereby they shared the cost of building the stadium then got to keep it when it was finally converted to it's finished state, as a Football Stadium.

That promise of a legacy is what now prevents the Olympic Stadium being converted to a proper Football Stadium with the Fans a reasonable distance from the pitch. Politicians, dontcha just love them!

[NAE NOOKIE]

Part of the justification for spending obscene amounts of tax payers money on the Olympics was that there would be a 'legacy' left behind.

The sensible thing would have been to do the same as they did in Manchester, where the end result was always going to be a proper Football Stadium, with the Olympics taking place in it's temporary state then the Stadium completely finished after. They could have come to an agreement with one of the London clubs beforehand, whereby they shared the cost of building the stadium then got to keep it when it was finally converted to it's finished state, as a Football Stadium.

That promise of a legacy is what now prevents the Olympic Stadium being converted to a proper Football Stadium with the Fans a reasonable distance from the pitch. Politicians, dontcha just love them!

A large part of the current spend is to convert the lower part of the stadium to a removable bottom deck which will bring the fans closer to the pitch for football ... how that is done without lowering the pitch ( unless they have ) is beyond me. No matter who got tenancy it was always on the strict understanding that the running track remained in place.

[Haymaker]

I will cry for you, especially when you move into a brand new purpose built stadium that my taxes helped to fund.:cb

Cheers mate. Appreciate the tears.