by Hoop Blah »
23 May 2016 15:54
From Despair To Where? So the stadium cost £272m to convert for football use. Minus the £15m that West Ham paid leaves £257m which is £10m more than the rental income for the duration of the 99 year lease.
Basically it's costing more to convert it to a football stadium than the entire football related revenue it will generate over the next century and that's without factoring in the fact that the rent also covers bills.
Great for West Ham but what the fcuk was Boris thinking when he signed that one off?
Apologies for this have g nothing to do with transfer speculation.
It really does stink of West Ham getting an unfair advantage over the rest of football.
The only thing that goes against that is, IIRC, that they don't actually get to keep any of the match day revenue (tickets aside) so there is additional income for the stadium corporation on top of the rent. They'll also get the knock effects of being able to maintain it for functions etc that otherwise would just become a wasted building.
Hell of a deal for West Ham though.