Friday 3 January 2020

West Ham's favourable stadium deal

Kieran Maguire of the PriceofFootball reports that E20 LLP, the company that rents out the London stadium to West Ham for £2.5m, have published losses of £17m for 2018/19, following on from losses in previous years of £17m, £208m and £105m. The analyst called 'Kevin' by the media, thus confusing him with a well-known journo, comments 'West Ham owners getting a great deal, not sure taxpayers are as happy.'

Or, indeed, some supporters of Charlton. It may be recalled that former Valley Party activist and Czech Republic resident Richard Hunt ran a long but ultimately unsuccessful campaign on this issue.

Maguire continues, 'E20 the London Stadium landlord show rent from West Ham of £2.7 million on a stadium that cost £323m to convert for football use and £486m to build. That works out as a yield of 0.33%, which I suspect wouldn’t give Dion Dublin a boner on Homes Under The Hammer.'

As well as bringing a book out with Agenda on football accounts, Kieran is now doing a very successful podcast series which you can link to @PriceofFootball on Twitter.

No comments: