West Ham to pay £250,000 additional rent on London Stadium if capacity increases to 60,000
PUBLISHED: 14:00 14 December 2018
West Ham will have to pay extra rent if it increases its capacity above 60,000, it has been revealed.
A letter from the London Legacy Development Corporation’s chief executive, Lyn Garner, and West Ham’s vice chairman Karren Brady, published today (Thursday), outlines details of the agreement made on November 19 about the London Stadium’s capacity.
Among the details was a clause stating West Ham must decide what capacity it wants for the stadium by June 1 every year. If the club chooses 60,000, it’ll have to pay an extra £250,000 in rent – the equivalent of £10,000 per match – to cover the costs for stadium operator E20.
To take the capacity to 62,500, West Ham would then have to pay a further £83,000.
The letter also claims that the deal will ensure there’s no further debate around capacity, and it confirms West Ham’s financial commitment to the stadium. An increase in capacity is expected to help with finding a naming rights partner and bring in more matchday revenue and footfall.
Under the agreement, the stadium’s capacity will rise from 57,000 to 60,000, with E20 and West Ham agreeing to split the costs of the increase 50/50. The eventual aim is to get the capacity up to 66,000.
This goal was first announced in the deal reached on November 19, which marked the end of a long-running litigation.
Since West Ham moved in two years ago, the stadium has been operating at reduced capacity. The legal fight between E20 and West Ham made history, as it was the first Court of Appeal hearing to be streamed live online.
Once the stadium can operate with a 66,000 capacity, it will overtake Arsenal’s Emirates Stadium as the second largest in the Premier League – behind only Manchester United’s Old Trafford.
In a joint statement, Ms Garner and Baroness Brady said: “West Ham United and E20 will now work together to maximise this magnificent Stadium for the benefit of fans, our community and the public purse. Both parties are fully committed to making the London Stadium the jewel in London’s crown that we all know it can be.”