Kieran Maguire: £20m+ West Ham development 'wonderful news' for Gold and Sullivan
It is “wonderful news” for West Ham owners David Gold and David Sullivan that the taxpayer is continuing to fund costs at the London Stadium.
That is according to finance boffin Kieran Maguire, speaking exclusively to Football Insider about the rental agreement at the 64,000-seater arena.
The Telegraph reported on 10th July that £20.5million will be drawn for the public purse over the next four years to fund stewarding costs.
The taxpayer will also foot the £14.5m bill for a seating revamp that will bring fans closer to the action.
The atmosphere at the state-owned former Olympic stadium has often been lamented since the move from Upton Park in 2016.
Maguire claimed that West Ham chiefs have been in “talks” with the authorities to make the stadium more accommodating for football.
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“The £35m is a cost saved,” he told Football Insider correspondent Adam Williams.
“But if it had been West Ham’s stadium by design, some of these costs would have been incurred at the outset. To a certain extent, they were presented with a fait accompli.
“They have been in talks since the move from the Boleyn Ground trying to nudge the stadium towards something that is better from a football fan perspective.
“But from a purely financial viewpoint, having the London taxpayer pick up the tab is fantastic.
“It’s not so fantastic if you’re a Leyton Orient, Brentford, Chelsea or Spurs fan. But from a Gold and Sullivan point of view, it’s wonderful news.“
West Ham kick off their 2020-21 Premier League campaign away to Newcastle United on 15th August.
Their first home match is against Leicester City eight days later.