Full Breakdown
Mayor Sadiq Khan Opens Discussion on West Ham United’s Potential Purchase of the London Stadium
By Drooid · · How we work
Financial Burden and Lease Background
The London Stadium, owned by the Greater London Authority through London Stadium LLP, records annual operating losses of roughly £19 million, which are covered by public funds. West Ham United occupies the venue under a 99-year lease signed in 2013. The original agreement required up to £2.5 million in rent, but after the club’s relegation to the Championship the annual payment fell to just over £2 million. While West Ham enjoys priority use for football, the stadium operator remains responsible for stewarding, policing and pitch maintenance, and conversion from non-football events can take up to two weeks.
Ownership Changes at West Ham United
Recent shifts in club ownership have revived speculation about a bid for the stadium. Czech energy investor Daniel Kretínský increased his stake to 46 percent, becoming the largest shareholder, while former chairman David Sullivan stepped down amid historic-conduct allegations. Vice-chair Karren Brady also left the club. These changes have prompted Labour Assembly member Bassam Mahfouz to write to the mayor urging exploration of a sale that could relieve taxpayers.
Official Statements & Responses
Khan added that while the mayor will consider credible offers, commercial discussions will not be conducted publicly and no comment will be made on ongoing negotiations.
Data & Statistics
- Annual loss: ~£19 million (publicly subsidised)
- Current rent: just over £2 million per year (anchor tenant fee)
- Stadium capacity: ~68,000 seats for football; expandable to ~80,000 for concerts
- Lease term: 99 years, commenced 2013
- Ownership stake: Daniel Kretínský – 46 percent of West Ham United
Why It Matters
A sale would shift the stadium from public to private ownership, potentially altering revenue streams, event scheduling and community access. Retaining athletics facilities has been highlighted as a condition by Mahfouz, reflecting the venue’s legacy as the 2012 Olympic track and field site. If West Ham were to acquire the stadium, the club could pursue redevelopment and increased concert hosting, which may improve the venue’s financial sustainability and reduce the taxpayer burden. Conversely, any change in ownership would need to safeguard the stadium’s broader public benefits, including its role in local employment and sport development.
Verbatim Quotes
- “As you rightly note, we have had to make the best of a challenging contractual position inherited from the previous Mayor,” — Sadiq Khan, to london mayor
- “Clearly, the ownership of the club is a matter for the club’s shareholders. We are committed to maintaining a constructive relationship with the club’s ownership and leadership, and the stadium team has welcomed recent improvements in that regard,” — Sadiq Khan, to london mayor