West Ham Olympic Stadium deal publication ordered
Financial details of West Ham’s 99-year tenancy at the Olympic Stadium look set to be published after an information tribunal rejected a legal bid to keep the contract confidential.
The London Legacy Development Corporation (LLDC), which says publication of the terms could diminish commercial revenue from the stadium by “millions of pounds” in total, is considering another appeal.
“We are disappointed by the tribunal’s decision,” said the LLDC. “We have already published the vast majority of the contract and only undertook this appeal following very clear legal advice that to release the remaining details could significantly impact the stadium’s ability to act competitively.”
West Ham are due to move into the stadium in August, having seen off a rival bid from Tottenham to be anchor tenants of the venue, which cost £429m to build and a further £272m to convert post-London 2012.
The Hammers are thought to have paid £15m towards the conversion as well as £2.5m a year rent.
Supporter-led group the Olympic Stadium Coalition, which has campaigned for publication, said it was “an issue of fairness to the taxpayer, to clubs near and far, and to football as a whole”.
It added: “We now respectfully request that the LLDC do what is right, waive the right to an appeal, and publish the deal in full so that it can be properly assessed and its implications understood.”
West Ham said: "We have always been clear that we have nothing to hide and, aside from the private details of our shareholders, we would be happy for the whole contract to be published.
"Although the ruling against the LLDC does not affect West Ham United in any way and we were not party to the original application or indeed the appeal, we understand the LLDC’s concern that it could impact on their ability to negotiate future contracts.
“It should be remembered that West Ham United were named anchor concessionaire of the stadium after a fair, transparent and robust process open to any organisation in the world. We were unanimously chosen as we offered the best deal for the taxpayer and the only option for a true and lasting legacy for Queen Elizabeth Olympic Park."