Why Are We Giving West Ham Football Club £35 Million

[jake-the-peg]

How did we get here?

http://www.bbc.co.uk/sport/0/football/21889864

Were there no contracts?

Looks like really bad financial management from where I'm sitting

[youngmafbog]

Gromit, rather mis leading calculations there. The original use of the Stadium was for the Olympics. You cannot factor the whole cost of that into the cost for West Ham

Conversion: £190 million, 2.5m annually = 76 years. Still not good but undoubtedly the rent will increase and it is only rent so the Land and building does not belong to West Ham.

[Gromit]

Youngmafbog.

Rubbish. You cannot right off £486million for a fortnight games. Some of that cost (if not all of it) needs to be recouped.

If you see the Commonwealth Games Stadium example, the complete cost is reflected in the rent. For that, the refit and the Original build cost £150million, annual rent £3million, so the tax payer is toatally reimbursed in 50 years.

[Vicasso]

...So the annual rent for this fantastic facility equates to the annual salary of ONE footballer earning £50k per week ?

[Bazile]

Folks - it's all part of the Legacy that we were told about , when we were sold the olympics and the costs thereof

[Gromit]

West Ham Utd charge £39 to attend home matches. X 54,000 new ground capacity = £2.1miliion per home game.

Weekly rent £50,000

[youngmafbog]

£2.1 less salaries for 11 overpaid footballers, coaches hangers on etc.

[tt6688]

its in london ,no expense spared.as usual.

[jake-the-peg]

That's a hell of a way of looking at it Vicasso!

A stadium for the price of a player!

I wonder if West Ham would like to negotiate my next pay riseon my behalf!

[Vicasso]

£2.1m plus advertising, merchandising, TV money, radio money and every other income stream.

[pdq1]

Seems a bit big for a team that could easily be relegated.

[ichkeria]

Don't forget that this stadium is not for the exclusive use of West Ham.
it will also be used as the venue for the World Athletics championships amongst many other things. It's the athletics venue, indeed the sports venue, that the UK and London has always lacked. That alone is its "legacy"

[Gromit]

// But Johnson's stance was opposed by Conservatives on the Greater London Authority, who called for the West Ham deal to be scrapped.

"The decision to give West Ham the Olympic stadium means Londoners and the nation's taxpayers have been landed with a poor deal," said their spokesman Andrew Boff.

"It is a disgrace that another £25m from the public purse will now be used to prop up this agreement.

"The deal should be scrapped immediately and a commercially viable alternative explored as a matter of urgency." //