"West Ham's relegation would cost London taxpayers 2m to 2.5m a year, as the club's rent at the London Stadium would be halved and the GLA would face reduced commercial income and higher match-day costs The London Stadium already operates at a large deficit, with Londoners subsidising its 19.5m annual running costs under a 99-year ball and chain deal signed under Boris Johnson"
"In addition, commercial revenues from the former Olympic stadium which is owned by the Greater London Authority would be expected to fall while the GLA would incur higher stewarding costs, as there would be 23 home games in the Championship compared with 19 in the Premier League. Labour assembly member Bassam Mahfouz, who uncovered the details at a City Hall hearing on Tuesday into Sir Sadiq's new budget, said that Londoners face being Hammered if the east London team were to be relegated."
"Under a ball and chain 99-year deal signed by previous mayor Boris Johnson, West Ham currently pay 4.4m a year in rent, leaving the GLA to pick up the bill for stewarding and other costs associated with the stadium. This means that the London taxpayer already subsidises the running of the stadium despite efforts to attract other uses, such as baseball a"
Relegation of West Ham would reduce the club's rent at the London Stadium, costing London taxpayers an estimated 2m to 2.5m annually. The London Stadium already runs a large deficit, with Londoners subsidising 19.5m in annual running costs under a 99-year deal signed under Boris Johnson. Reduced commercial revenues and a lack of progress on naming rights would further cut Greater London Authority income, while stewarding and match-day costs would rise because the Championship has 23 home games versus 19 in the Premier League. West Ham currently sit 18th but have won two recent games under new manager Nuno Espirito Santo.
Read at www.standard.co.uk
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