Sources: Major update on West Ham naming rights deal after £4m reveal
West Ham and the London Stadium landlords are not currently engaged in talks over the makeup of a naming rights deal, sources have told Football Insider.
The London Legacy Development Corporation (LLDC) would be entitled to the first £4million of any annual sponsorship arrangement, with the remaining cash split evenly between the landlords and the Hammers.
Speaking at the London Assembly earlier this month, LLDC chief executive Lyn Garner revealed that the firm would consider handing over negotiations for a naming rights deal to West Ham if they agreed to pay £4m-a-year.
LLDC said they had nothing to add other than what was said at the Assembly meeting when approached by Football Insider for comment.
But sources close to West Ham have told this site that the club is not currently engaged in discussions over such an arrangement.
Two blue-chip companies who have previously been in talks with LLDC also revealed to Football Insider that there had been no resumption of dialogue.
West Ham and LLDC have shelled out a combined total of over £1m to agencies since the search for an appropriate sponsorship deal began.
E20 Stadium LLP, the company which is run by LLDC representatives and has been responsible for managing the London Stadium post-Olympics, lost £24.8m in the last financial year alone.
That took total losses at the taxpayer-funded stadium where the Irons pay approximately £3.5m-a-year in rent to an eye-watering £286.3m.
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