The former Olympic Stadium has become a financial burden for the London Legacy Development Corporation (LLDC) due to its long-term contracts resulting in losses. This has led to suggestions that West Ham could take over the venue from LLDC.

Not for sale

Mayor Sadiq Khan has dampened enthusiasm for discussions about West Ham United purchasing the London Stadium, stating that he considers the venue one of the city's crown jewels. He also added that he is not interested in selling it unless an offer too good to refuse is made.

Under the terms of a 99-year lease agreement, West Ham currently pays just £3.6 million a year to host their home games at the London Stadium. This deal has proven so advantageous for the club that LLDC sued the law firm Allen & Overy for £12 million for alleged professional negligence in drafting the agreement. The firm subsequently paid over £2 million in a legal settlement with the stadium's owners.

© Adam Somlo

Will they find a satisfactory solution?

As a result, West Ham has little incentive to purchase the stadium, but one benefit would be the ability to make changes such as moving the stands closer to the pitch—a long-standing issue for Hammers fans.

I think people need to realize that if they sell this asset, it's gone forever. It’s one of our crown jewels. That's why I'm keen to work with West Ham and other partners to ensure we can achieve greater success in the future, said Sadiq Khan.