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West Ham’s London Stadium Deal


David

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14 hours ago, CWC1983 said:

It would be interesting to see what clauses are in the contract if the mayor announces the stadium bankrupt and will close........

Where do the Hammers go then? 

Oh, probably that funds will be taken away from London's areas with no way of stopping it as part of the contract.

Its been a big effort to just stop spurs having it.

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20 hours ago, ossieram said:

No need to worry, the FA will make sure everything is ticketyboo.

And FIFA willmmake sure that they do everything above board. Im really glad that there’s always someone watching the watchers, it makes me feel so much safer that there’s absolutely no chance of anything dodgy going on. 

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On 01/12/2017 at 21:44, Pearl Ram said:

Good luck to the mayor of London renegotiating West Ham’s next deal, they took out a 99 year lease I’m pretty sure, that’ll make him about 145 when it’s up for renewal as West Ham are saying there will be no renegotiations.

No such thing as a water tight contract, it would be quite easy to pick that deal apart.  It is using public money to finance a private venture where any profit is kept by the private venture and zero is returned to the public, if there is a loss the public has to foot the bill and the private venture contributes zero.

It is as water tight a paper bag, might hold out for a while, however holes will appear.

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1 minute ago, alexxxxx said:

still seems unreal that west ham only pay £2.5m/yr for that stadium - does anyone know if they keep ticket sales? 

they claim that it was a competitive tender... how terrible was spurs' bid?

this deal always seemed fishy.

The powers that be love West Ham so much I am surprised we don't pay them to play there.

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1 hour ago, alexxxxx said:

£3m/yr and £2m for the naming rights - up for renewal next year i think?

Similar sort of deal then i guess. No doubt West Ham will get naming rights at some point.

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1 hour ago, McRamFan said:

  It is using public money to finance a private venture where any profit is kept by the private venture and zero is returned to the public, if there is a loss the public has to foot the bill and the private venture contributes zero.

Whenever you hear politicians say "innovation, lean efficiency, competitive operation, by bringing the skills of the private sector into this area" "Public private partnership" "Private finance initiative" and so, they are all referring to exactly the type of deal you describe.

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Not to bring politics into this, but I always thought it was interesting to see that Karen Brady, who has aspired to be a Tory politician, and had some minor roles, managed to negotiate such a great deal with a Tory mayor.

That said, it's a **** football stadium. Incredible that they spent so much converting it - almost as much as building a new bloody stadium - as that means presumably it would cost a fortune to convert it again for another use.

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2 minutes ago, Kennington Ram said:

 

That said, it's a **** football stadium. Incredible that they spent so much converting it - almost as much as building a new bloody stadium - as that means presumably it would cost a fortune to convert it again for another use.

I assume the four asterisks don't mean 'good'.  I disagree. I'm a season ticket holder (£145 for over 65s - they are my 3rd team after Orient and of course the mighty Rams) and I think it's a great stadium. Fantastic view. The only downside is the seemingly 2 mile hike they make you go on from Stratford station so you don't go through the shopping centre

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10 minutes ago, Kennington Ram said:

Not to bring politics into this, but I always thought it was interesting to see that Karen Brady, who has aspired to be a Tory politician, and had some minor roles, managed to negotiate such a great deal with a Tory mayor.

That said, it's a **** football stadium. Incredible that they spent so much converting it - almost as much as building a new bloody stadium - as that means presumably it would cost a fortune to convert it again for another use.

brady must be an incredible businesswoman, but seems like the legacy corporation led by boris johnson were taken for a complete ride - "On 14 April 2016 it was revealed that West Ham will pay £2.5 million per year during a 99-year lease of the stadium but will not have to fund police, stewarding, heating, pitch maintenance, or corner flags. Barry Hearn described the deal as one his dog could have bettered." seems like the way the management was structured made them easy pickings for west ham..

anyway, we can give her the benefit of the doubt as she's married to paul pesch...

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37 minutes ago, Strange yearnings said:

I assume the four asterisks don't mean 'good'.  I disagree. I'm a season ticket holder (£145 for over 65s - they are my 3rd team after Orient and of course the mighty Rams) and I think it's a great stadium. Fantastic view. The only downside is the seemingly 2 mile hike they make you go on from Stratford station so you don't go through the shopping centre

I've only been to the stadium five times and always for athletics but I thought the atmosphere in there with a full crowd was electric - far better than at the new Wembley (old one was great!) I keep willing us to draw West Ham in a cup so I can go there for football.

I agree about the walking though! 

I don't know anything about the finances but I'm just pleased it is being used regularly and I quite like how they have 'West Hammed' the seats and stadium. 

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