So it has been announced today that West Ham will move into the Olympic Stadium on a 99yr lease. So far no problem on that happening......although Spurs would disagree and Leyton Orient would claim it cannot happen with them waiting for the result of a judicial review. My problem is that they are being helped with £60 million of tax payers money. In this day and age how can that happen when tax payers are being screwed left right and centre for every penny that they earn. £170 million will be spent to make it fit for purpose, West Ham will only pay £15 million towards that sum. How many hundred millions did Arsenal have to raise to build their Emirates Stadium. West Ham will pay £2 million a year in rent........the stadium needs twice that for running costs in a year. This Stadium is in Orients back yard.......although Orient at present are reasonably successful it will surely effect their 5000 average gate. Stadiums like this in this day and age surely need to be a shared venue to keep costs down. West Ham are a major sporting enterprise in London.....why should they be given sole rights to a major stadium......why should they be given such a huge amount of free hand-out........with such a venue in their pocket I would think West Hams owners would find the clubs value rocket because of an obscene tax payers hand-out. Would not the larger stadium attract more West Ham fans and of course give their finances a big boost......but not help the tax payers too much of course.
All I can say is I saw Boris Johnson's lips move........ But, West Ham will be tenants not owners so I can't see where their value will rocket. I blame the original design because if done with a future in mind they would not have to spend this vast sum on it now.
The original design was attracting 80.000 every time........even when I went during the Para-Olympics on a normal athletics day there was 80.000 of us.....I couldn't see any empty seats.....so it is difficult to know how they could of done it differently.
It could have been built bigger and it would have sold out at the Olympics. West Ham's value will rise and that has been put in the contract i heard that if they were to sell the club i think within 10 years the owners would need to pay a certain percentage back to the tax payers. still not a great deal.. Look at Man City, they had the commomwealth stadium and then they were sold at a great profit to their current owners. May be i i have heard or g t it wrong but either way its a joke.. they should be paying at least 20 million a year in rent? not 2 million.. What if they get relegated?
I think it is not so much West Hams value will rise more that they will get an unfair boost as in funds that other teams need to find for stadiums can be invested into playing staff. That said what really was the other option leaving he stadium empty for 95% of the year? For me good luck to them any boost a team can get good on them. One of the comments left on the BBC article from a West Ham fan made me laugh... if any team can make a mess of this opportunity it is us!!! If he thinks they have a history of messing it up he should come to Home Park Not much difference with Man City and their stadium for me perhaps this will attract some big money investor for the hammers would love to see them lording over Chelsea and Arsenal in a couple of years.
