Some people on here seem pleased the deal hasn't been completed yet. Why? Do they want the Allams to stay forever?
Should our soon to be new owner be looking at purchasing the stadium in the short, medium or long term as part of his ownership model or will he follow the West Ham model? MoH
Fair! But assuming the change of ownership occurs (timing TBD) what should any new owner’s approach be? The stadium is undoubtedly an asset and owning it may provide flexibility if, in the future, expansion to the capacity proves necessary. Also, should our training facilities (location, quality and scale) be part of any ownership model/review? (I am bored as I wait for the judge to join our mtg on MS teams…) MoH
The West Ham model? "West Ham have contributed £15m towards costs of £272m of converting the previously athletics-specific arena into a 60,000-capacity venue suitable for Premier League football, while the LLDC will cover all maintenance and running costs once the team moves in - including staff, security personnel, police and emergency services at the facility during all events." Not mentioned specifically in that copied paragraph is the requirement to provide a stadium for a game of football. The goal posts and nets, corner flags, line markings, cut grass a bonus at a guess, and the crowning turd in this **** heap of an agreement, the requirement to provide covered pitch side seating for coaches and substitutes. For this set up, for 25 days usage, they pay £2.5m a year rent for the duration of their 99 year lease. Fantastic if you are the tenant, not so if you are the London Legacy Development Corporation. "The stadium needs to be a profitable and successful commercial operation otherwise it will rely on public subsidy." Yea, right, so who is picking up the tab for this cock up?
I selected West Ham as a rough comparator as I had just finished reading The Athletic article on valuing football clubs. MoH
As far as West Ham go, there is no other club with such a beneficial lease agreement. It is unique. It also stinks.
I would blame the idiots behind the whole set up initially who should have realised they would end up with a white elephant on their hands. Spurs offered to buy it, demolish it and build a new football stadium but we're turned down because of the meaningless waffle about the Olympic "legacy".
