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West Ham and Tax payers money

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By (user no longer on site) OP   
over a year ago

I am a massive fotty fan across all leagues - however the owners of WEST HAM Football club are reported to be worth some circa £900m between them, so why are we the Tax Payer, paying £45m to have the Olympic stadium turned into a Football stadium and WEST HAM only paying £15m plus annual rents, when quiet clearly they could have built one themselves without Tax Payers money

Discuss

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By (user no longer on site)
over a year ago

As a west ham fan. I disagree completely with this. I love the atmosphere at Upton Park, although we could benefit greatly from the capacity i dont want to move! As for the owners they should put their handa in their pocket! Shame theres not enough space around upton park to expand there

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By (user no longer on site) OP   
over a year ago


"As a west ham fan. I disagree completely with this. I love the atmosphere at Upton Park, although we could benefit greatly from the capacity i dont want to move! As for the owners they should put their handa in their pocket! Shame theres not enough space around upton park to expand there"

100% agree about atmosphere at Upton Park its awesome when full - but glad you agree with me about owners and pockets lol

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By *kywatcherMan
over a year ago

Southwick

It'll be interesting to see what happens with the Boleyn Ground and the money from the sale for potential development...retail or more likely residential.

The owners could make a killing here and then move on and sell up having made a fortune.

If anyone is in doubt remember what happened to Brighton's Goldstone Ground.

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By *ucsparkMan
over a year ago

dudley

Be interesting to see if they can fill the place sixty thousand is a lot of seats.

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By (user no longer on site)
over a year ago


"I am a massive fotty fan across all leagues - however the owners of WEST HAM Football club are reported to be worth some circa £900m between them, so why are we the Tax Payer, paying £45m to have the Olympic stadium turned into a Football stadium and WEST HAM only paying £15m plus annual rents, when quiet clearly they could have built one themselves without Tax Payers money

Discuss"

Because we, the taxpayer, still own the stadium, and will own the stadium for the next 99 years at least. Why would the owners of West Ham FC pay £45m out of their own pockets to convert a stadium owned by someone else into something they can use for football but that must also host other events, inc Rugby and Athletics?

West Ham have secured a 99-year lease on the stadium at an annual rent of £2m (that's £198m returned to the taxpayer over 99 years if my maths is correct). The LLDC will also get a substantial payout if the owners of West Ham FC sell their club within 10 years, as well as a % of monies raised through catering and hospitality at the stadium, although West Ham FC have secured all ticketing and merchandising sales. West Ham have also RAISED the amount they are putting into the conversion from NOTHING to £15m with the rest of the money needed for the conversion to be drawn from a range of sources, including London Mayor Boris Johnson's budget, a £40m loan from Newham Council and around £20m of borrowings by the LLDC.

Not quite as clear cut as 'joe taxpayer getting mugged again' is it?

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By *un_JuiceCouple
over a year ago

Nr Chester

I love the Irons. Great club and fans. Huge history. But can't help but think Leyton Orient should be considered in all of this

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By *un_JuiceCouple
over a year ago

Nr Chester

Forgot to say excellent point Wishy

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By (user no longer on site)
over a year ago


"I love the Irons. Great club and fans. Huge history. But can't help but think Leyton Orient should be considered in all of this"

They wanted to be considered but they were punching well above their weight and wanted to use West Ham's money as a springboard for their own future success. How can a team as lowly as Orient expect to fill a 60,000-seater. They're dreaming.

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By (user no longer on site)
over a year ago

I quite like West Ham as a club and generally found their fans ok. I worry about them with the board and owners they've got. If they go down at any point in the next couple of years I can see them coming unstuck.

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By *kywatcherMan
over a year ago

Southwick


"I quite like West Ham as a club and generally found their fans ok. I worry about them with the board and owners they've got. If they go down at any point in the next couple of years I can see them coming unstuck."

That was my point regarding their current assets in the form of their present stadium.

I can see the owners cashing in and baling out.

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By *un_JuiceCouple
over a year ago

Nr Chester


"

They wanted to be considered but they were punching well above their weight and wanted to use West Ham's money as a springboard for their own future success. How can a team as lowly as Orient expect to fill a 60,000-seater. They're dreaming."

Could you blame anyone for trying though for his club. I don't know what they pull at home but that could double and pave the way for them progressing. It's on their manor.

How would it be different than say a reset e game being played ? As long as the overheads cost didn't exceed the income generated through bums on seats, advertising etc. More tv revenue if they climbed the ladder. All back to the supposed tax kitty

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