Sources: West Ham on track to complete £20m deal by end of December
West Ham are on track to conclude a £20million deal with Allianz before the end of the year, Football Insider has been told.
The German insurance company are set to complete a long-term naming rights deal for the London Stadium.
Football Insider revealed in November that the Hammers were in advanced talks with Allianz and Stage Front over a stadium deal.
Sources now say that a deal with Allianz is set to conclude before the end of 2023, with West Ham’s stadium set to be renamed for 2024 onwards.
The value of the agreement is set to be very similar to the £20million previously offered by Vodafone for a six-year deal.
The first £4million received from the deal will be sent to the London Legacy Development Corporation (LLDC) – who own the London Stadium.
All money received from the deal past that will be split equally between West Ham and LLDC.
The yearly injection of cash from the Allianz deal will help the Irons to cover the £2.5million yearly rent they pay to LLDC in order to use the London Stadium as their home ground.
Once the deal is concluded, the stadium is set to be renamed in a similar fashion to the Allianz Arena used by Bayern Munich.
West Ham will join Manchester City, Arsenal, Brighton, Bournemouth and Brentford as Premier League clubs with existing naming rights deals.
City’s naming rights deal is part of a wider agreement with Etihad, while Arsenal earn just £4million per season from their Emirates deal.
In other news, West Ham lead Everton in race to sign Aodhan Doherty