Kieran Maguire shares update on West Ham deal – ‘one of the best in world football’
West Ham are now paying £3million in rent per season for the London Stadium but it remains a ‘brilliant’ deal.
That is the opinion of finance expert Kieran Maguire, who exclusively told Football Insider that the Hammers have ‘one of the best-negotiated deals in world football’.
The Hammers moved from the Boleyn Ground to the London Stadium in 2016 after striking a deal with LLDC to rent the stadium for use as their home ground.
The Londoners initially paid a rental fee of around £2.5million per year as well as a flat fee of £15million.
As per the Daily Mail, West Ham applied to increase the capacity of the London Stadium to 68,000 for matchdays making it the second-biggest stadium in the Premier League.
Football Insider was previously told by Maguire that the increase in capacity would grow matchday revenue to £50million per season.
Maguire explained that West Ham’s rent has increased since their move in 2016, but their stadium deal still holds great value especially with the increase in capacity.
“Adding capacity to the London Stadium will add even more value to West Ham’s brilliant rental deal,” Maguire told Football Insider’s Sean Fisher.
“But, the rent figures are up from £2.5 million to £3 million.
“It’s not going to move the dial significantly higher.
“West Ham continue to have one of the best-negotiated deals in world football when it comes to how much it costs them to host matches.
“That’s very much to their benefit and to the detriment of the local taxpayers.“
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