West Ham secure main tenancy of Olympic Stadium
West Ham have secured a 99-year lease of the Olympic Stadium and will pay £2m annual rent for the pleasure of hosting their home games in the Premier League and cup competitions.
March 22nd, 2013
After negotiations taking place over the last few months, West Ham have today been confirmed as the main tenant of the Olympic Stadium, with the Hammers set to occupy a 54,000 seat venue for the next 99 years.
The club’s vice chair Karren Brady clearly cut a delighted figure as Boris Johnson confirmed the deal at a press conference, with Ms Brady now looking to attract West Ham supporters to their new ground.
“It was important to me that we struck the right deal that would stand the test of time that represented the right deal for West Ham United and our loyal and patient supporters,” she said.
Johnson said: “This is a truly momentous milestone for London’s spectacular Olympic stadium ensuring its credible and sustainable future. Through this deal with West Ham we are defying the gloomsters who predicted this landmark would become a dusty relic.”
The Newham mayor, Sir Robin Wales, insisted its £40m investment would “benefit Newham residents, London and the nation as a whole”.
West Ham won’t be moving into the £429m stadium until the 2016-17 season, although it’s a somewhat controversial move considering a publicly-funded stadium is being handed to a Premier League football club.