Kieran Maguire makes ‘big’ West Ham claim after London Stadium purchase twist
West Ham would face a ‘big challenge’ monetising the London Stadium throughout the year if they decided to purchase the venue.
That is the view of Kieran Maguire, who spoke exclusively to Football Insider about the pros and cons of West Ham purchasing their own ground.
The Hammers currently rent the 66,000-capacity stadium, but the Daily Mail reported on Tuesday (28 March) that they could seek a deal to purchase the venue.
West Ham’s current rental fee of the London Stadium increased from £2.5million to £3.6million in 2022, but the deal allows the Irons to pocket all ticket money without having to foot the cost for heating, cleaning, or maintenance.
London Legacy Development Corporation (LLDC) currently own the stadium, but their CEO Lyn Garner recently revealed that the venue is operating at a loss despite the Premier League club’s loan payments.
Maguire believes purchasing the London Stadium will only benefit West Ham if they are essentially handed ownership by LLDC.
“The only benefit for West Ham buying the stadium would be if it is given away by LLDC and handed across to the club who could try to monetize it on a 365-day basis,” Maguire told Football Insider.
“That is the big challenge for all football clubs, especially in London.
“We’ve seen Tottenham and Arsenal try to find alternative uses for their stadiums during the off-season in the summer.
“But it is a fairly crowded market.
“West Ham would also be able to personalise the stadium far more to make it feel more like home. At the moment it is very much a blank stadium.
“They could add more history and heritage to the ground if they owned it, but whether that’s financially worthwhile is debatable.“
In other news, Kieran Maguire slates chiefs as West Ham face £60m loss