Kieran Maguire salutes 'superb' negotiators as £320m West Ham deal revealed
West Ham are “committed to paying £320million” in rent repayments for the London Stadium as part of a “superb” long-term deal.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the nuances of the deal with E20 Stadium LLP.
The firm, who acts as landlord for the 62,500-capacity ground, revealed a £24.7m annual loss in their accounts released on Wednesday (5 January).
That takes total losses at the stadium to £286m, as per figures collated by Maguire and published via Twitter yesterday (6 January).
The Hammers themselves currently pay approximately £3m per season to take residence at the former Olympic arena.
Maguire analysed the figures and hailed West Ham’s negotiating team for their stellar work.
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“It’s a very good long-term deal for West Ham,” he told Football Insider‘s Adam Williams.
“Whoever negotiates this has done very well. I’m not aware of any breaks in the contract. It’s a long-term lease.
“If you look at note 28 in the West Ham accounts, they are committed to paying £320m in future rent repayments.
“But they are only expected to pay £3.3m next year. The long-term rental agreement is superb for the club.
“The big challenge is personalising the stadium, making it ‘more West Ham’. They have made progress with that in recent times.”
The Hammers submitted documents to Companies House on Thursday (6 January) that detailed a £26.9m annual loss.
Revenue, however, rose by 38 per cent as a spike in broadcast income offset almost non-existent matchday receipts for the 2020-21 season.