Labour calls for Mayor to explore London Stadium sale to West Ham
Labour have called on Mayor Sadiq Khan to explore selling the London Stadium to West Ham United. Labour assembly member Bassam Mahfouz has written to Lord Khan urging him to relieve the London taxpayer of the £1.75bn burden of the existing deal between City Hall and the Championship football stadium. The long-term tenancy agreed by [...]
Labour has urged Mayor Sadiq Khan to consider selling the London Stadium to West Ham United, in order to free London taxpayers from the £1.75bn financial burden of the current deal. The long-term tenancy, agreed upon by former mayor Boris Johnson and West Ham vice-chair Karren Brady, is already costing taxpayers £19m annually, with West Ham's rent falling to less than £3m per season after their relegation from the Premier League.
Assembly member for Ealing and Hillingdon, Bassam Mahfouz, has written to Khan urging a full assessment of the stadium's long-term ownership options, taking into account the financial benefits for taxpayers and the need for protections to maintain the stadium's role in hosting major athletic and sporting events. Mahfouz emphasized that the London Stadium, a key legacy of the 2012 Olympic and Paralympic Games, should continue to be protected, but a better deal for Londoners must also be secured.
The mayor's office has hinted that a sale of the London Stadium is open for discussion, as the stadium is at the center of a bid to host the World Athletics Championships in 2029. West Ham could also see new ownership interests, with Amanda Staveley, a former Newcastle United shareholder, leading a bid to acquire a portion of the club.
With the deadline for existing shareholders to buy Vanessa Gold's shares approaching, Mahfouz believes that potential new ownership could present a new opportunity for improved financial terms.
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