Kieran Maguire: West Ham set for ‘£31m’ windfall after statement issued
West Ham can add £4million to their annual £27m worth of matchday income after the London Stadium is redeveloped.
That is the view of finance expert Kieran Maguire, speaking exclusively to Football Insider about the latest plans for the Olympic Park venue.
The club confirmed on 27 October that they have been given the go-ahead to boost capacity at the London Stadium to 62,500.
The statement also set out the club’s plans to add another 4,500 seats over the coming years.
At 67,000, the London Stadium will overtake the Tottenham Hotspur stadium as the capital’s biggest club football arena.
News of the redevelopment comes as West Ham are reportedly on the brink of a partial takeover from Czech billionaire Daniel Kretinsky.
Maguire used his financial chops to estimate how much the Hammers stand to gain when their stadium ambitions are realised.
The spreadsheet guru also explains that the landlords at the London Stadium will cover the redevelopment costs.
He told Football Insider correspondent Adam Williams: “West Ham made £27m in the last full non-Covid year in 2019 when they had about 57,000.
“Therefore, the extra 2,500 we’re probably talking about another £1m. But if we go up to 67,000, it’s probably going to be an extra £3m or £4m per season.
“It is not West Ham’s property so I assume the landlords will pay for the development.
“The landlords will benefit because they will be able to sell more tickets for non-football events.“
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