West Ham paying £2.5m in rent per year for the Olympic Stadium

[Monts]

http://www.bbc.co.uk/sport/football/36043808

It sounds a lot, but over the 99 year lease, it doesn't even cover the cost of converting it to a football stadium :confused:

[Ozyhibby]

Especially when we have to pay all their policing, stewards and even supply nets and corner flags. It's a disgrace.


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[CropleyWasGod]

http://www.bbc.co.uk/sport/football/36043808

It sounds a lot, but over the 99 year lease, it doesn't even cover the cost of converting it to a football stadium :confused:

They only have it for 25 days a year.

There's another 340 days for the owners to make their money back.

[Michael]

I don't know why they sold Upton Park? When the premier league bubble bursts they'll have nothing.

[HIBERNIAN-0762]

Don't think the majority of their fans want to leave Upton Park but when you have 2 uber rich sleazebags as owners anything is possible.

Crazy London style money nonsense but as Crops says they will fill it out in other ways.

[CropleyWasGod]

Don't think the majority of their fans want to leave Upton Park but when you have 2 uber rich sleazebags as owners anything is possible.

Crazy London style money nonsense but as Crops says they will fill it out in other ways.

It's £100k for every matchday. Ouch.

[HIBERNIAN-0762]

It's £100k for every matchday. Ouch.

Almost yam like figures :tee hee:

[MWHIBBIES]

Fantastic deal for West Ham, fair play to them

[hibby6270]

Sounds like a good deal West Ham have got there.
Not sure what Upton Park capacity is. 35k maybe? Sells out every home game.
At Olympic stadium, capacity is 50k I believe, so an extra 15k per game at minimum say of £30 a ticket, that's £450k minimum per game more than they get now, so rent of £100k per game is nothing.
Good bit of business I'd call that. Or am I missing something?

Let's face it most EPL teams have done something similar over the years. Spurs next, although they'll still own the new White Hart Lane. Even Liverpool have "done a Rangers" and are building a 3rd tier to their main stand.

[NAE NOOKIE]

Great bit of business by West Ham ......... 2.5 million is peanuts to them and they have got themselves a modern stadium that was built with public money and since then has seen millions of public money spent on it to make it fit for football.

[HUTCHYHIBBY]

Come on you Irons, wont be the same away from The Boleyn though.

[Jack]

It's now where they play their home games.

It will never be their home.

[brianmc]

Use of a £740 million stadium for £100k a game. With the stadium owners picking up all costs (policing, stewards etc) and West Ham raking in something like £¾million per game in ticket sales to add to their squillions from the TV deal?

Absolutely brilliant deal for West Ham , brutal for the taxpayers that had to stump up the £740 million though. And also gives WHUFC a massive financial leg up over Chelsea and Spurs who are having to come up with something like £½ a billion each to build their new stadia. As well as giving the Hammers the edge over every other team that has to pay for and maintain their current stadia.
If managed properly West Ham could become one of the real elite European clubs!
Thank goodness I don't pay my taxes or I'd be right pissed off ;-)

[Sammy7nil]

They only have it for 25 days a year.

There's another 340 days for the owners to make their money back.

Yeah they can hold concerts etc Oh hold on what about the pitch. Realistically the owners also have 25 days this is a FANTASTIC deal the rent will be paid by one of their 4 or 5 derby matches ticket sales.

[Sammy7nil]

Great bit of business by West Ham ......... 2.5 million is peanuts to them and they have got themselves a modern stadium that was built with public money and since then has seen millions of public money spent on it to make it fit for football.

Would u be so generous if Hearts got a similar deal :confused:

[Lago]

Fantastic deal for West Ham, fair play to them
But not for the British tax payer and that includes you and me, disgrace.

[CropleyWasGod]

Yeah they can hold concerts etc Oh hold on what about the pitch. Realistically the owners also have 25 days this is a FANTASTIC deal the rent will be paid by one of their 4 or 5 derby matches ticket sales.
International athletics competitions. Corporate use of the internal facilities.
Concerts in the close season.

A lot more than 25 days.

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[Sammy7nil]

International athletics competitions. Corporate use of the internal facilities.
Concerts in the close season.

A lot more than 25 days.

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They will NEVER use the "stadium" for more than 25 days a year possibly a few conferences but not using the full range of sports facilites. West Ham have won the EURO millions with this deal.

[Hibs Class]

I don't know why they sold Upton Park? When the premier league bubble bursts they'll have nothing.

They'll just blow their own :greengrin

[CropleyWasGod]

They will NEVER use the "stadium" for more than 25 days a year possibly a few conferences but not using the full range of sports facilites. West Ham have won the EURO millions with this deal.
The Athletics World Championships are there next year.
UK Athletics has it for a month every summer.
Essex CCC will play their Twenty20 games there.
Also talk of MLB and NFL games.

That's already more than 25 times. If it's run properly....and that, of course, is the key issue.... it will be well used.

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[MWHIBBIES]

But not for the British tax payer and that includes you and me, disgrace.West Ham aren't the disgrace, whoever agreed this deal with them is. West Ham are genius, they are paying peanuts for something Arsenal pay hundreds of millions for.

[jacomo]

They only have it for 25 days a year.

There's another 340 days for the owners to make their money back.

Surprised at your response.

West Ham have got the deal of the century here, especially once the cash from selling Upton Park goes into the owners' pockets.

All because the long term use of the Olympic stadium wasn't planned properly.

P.S. The owners of the stadium are us beleaguered tax payers. Stitched up by Seb Coe and Boris Johnson.

[Haymaker]

As a west ham follower it is ****ing awesome!!

[Bristolhibby]

Surprised at your response.

West Ham have got the deal of the century here, especially once the cash from selling Upton Park goes into the owners' pockets.

All because the long term use of the Olympic stadium wasn't planned properly.

P.S. The owners of the stadium are us beleaguered tax payers. Stitched up by Seb Coe and Boris Johnson.

TBF has any Olympic stadium ever been used properly in a legacy capacity in the history of the olympics?

The Barcelona one is on a hill empty, Athens is a shell. Big white Elephants, basically because bar every 4 years, nobody gives two hoots about athletics. I'm sure the Rio stadium will be the same.

They make horrible stadiums for regular sports anyway because of the running track.

Just realised the one that is used (and I've been to it), the Sydney stadium. Now there's how to get the best out of a stadium. Movable stands that slide in when Rugby and football is being played and slide back when Cricket, Aussie rules and athletics is taking place. Brilliant idea!

J

[CropleyWasGod]

Surprised at your response.

West Ham have got the deal of the century here, especially once the cash from selling Upton Park goes into the owners' pockets.

All because the long term use of the Olympic stadium wasn't planned properly.

P.S. The owners of the stadium are us beleaguered tax payers. Stitched up by Seb Coe and Boris Johnson.
I'm not saying that it's not a good deal for them.

I am saying, though, that it's only theirs for 25 days. There is the potential. ...underlined ... for 340 days' other use.

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[Andy74]

West Ham aren't the disgrace, whoever agreed this deal with them is. West Ham are genius, they are paying peanuts for something Arsenal pay hundreds of millions for.

Arsenal own theirs, have full use of it and can benefit from all the other facilities and ways to make money from a stadium.

West Ham don't get access to most of those avenues.

It possibly is a good deal, I don't know, but it also means at least the stadium, which has been built anyway, is used.

[MWHIBBIES]

Arsenal own theirs, have full use of it and can benefit from all the other facilities and ways to make money from a stadium.

West Ham don't get access to most of those avenues.

It possibly is a good deal, I don't know, but it also means at least the stadium, which has been built anyway, is used.Obviously it is better to own a 60k seater than rent one but all the money Arsenal spent hindered their performance on the park for years, that isn't something West Ham will have to deal with.

[Andy74]

Obviously it is better to own a 60k seater than rent one but all the money Arsenal spent hindered their performance on the park for years, that isn't something West Ham will have to deal with.

Although in theory Arsenal will now be able to reap the benefits of owning a stadium and West Ham don't.

[Pete]

It's now where they play their home games.

It will never be their home.

They'd better get used to it. :greengrin

[jacomo]

TBF has any Olympic stadium ever been used properly in a legacy capacity in the history of the olympics?

The Barcelona one is on a hill empty, Athens is a shell. Big white Elephants, basically because bar every 4 years, nobody gives two hoots about athletics. I'm sure the Rio stadium will be the same.

They make horrible stadiums for regular sports anyway because of the running track.

Just realised the one that is used (and I've been to it), the Sydney stadium. Now there's how to get the best out of a stadium. Movable stands that slide in when Rugby and football is being played and slide back when Cricket, Aussie rules and athletics is taking place. Brilliant idea!

J

You make a decent point.

However, as you also say, there is a better way of designing Olympic stadiums for future use, as athletics never attracts big enough crowds outside of that particular event. It is unforgivable that Coe's arrogance meant that London did not design its stadium properly from the outset.