West Ham’s Decision Justified To Rent London Stadium

West Ham‘s decision to continue renting the London Stadium, rather than buying it, looks to be justified based on the latest figures available from the owners, E20.

It has been revealed that the revenue for the last year up, to March 2023, was £6.3m – of which £4m came from West Ham in rent.

The cost of running the stadium (cost of sales) was £17.8m leaving an operating loss of £11.5m. E20 received an additional one‑off £8.5m in exceptional revenue due to legal disputes with West Ham and legal firm Allen and Overy.

The London Stadium fair book value is listed as nil, making the stadium currently worthless as an asset. E20 owes £90m to LLDC through a loan and accrued interest. The owners have made provisions in their accounts for future losses of £232m because of onerous contracts with West Ham and UK Athletics.