gph
7:47 Fri Oct 27
Re: West Ham’s landlords on brink of going bust
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So "West Ham could be locked out" is a media invention.
Thank fuck they've re-assured us that the possible lock-out has been made up by someone...
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1964
4:31 Fri Oct 27
Re: West Ham’s landlords on brink of going bust
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Athletics Window = last Friday in June - 1st August each year.
Championship Window only applied to 2017
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WorldCupWilly
4:25 Fri Oct 27
Re: West Ham’s landlords on brink of going bust
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JohnnyL
The agreement doesn't allow then to leave it in athletics mode:
Football Mode Seating Requirement means a temporary seating structure to cover the running track and provide seating on each side of the playing surface with the front of each seat in the front row of the Lower Tier being between 10 metres and 20 metres (inclusive) from the edge of the playing surface, and adequate roofing to cover all the seats provided in the temporary seating structure that will provide the Stadium with the Agreed Capacity;
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VirginiaHam
4:22 Fri Oct 27
Re: West Ham’s landlords on brink of going bust
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AdamL 3:30 Thu Oct 26
It is beyond belief that something as critical as retractable seating was not deserving of a back-up plan. Whomever contracted with the seating people failed to do their due diligence as regards the viability of the retractable seating company. For them to go bust before they even started the work is shocking.
So, any event or events outside he football season starts at -GBP8m. All we pay is GBP2.5m/season and I am fairly certain our contract is as tight as a duck's arse.
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1964
4:22 Fri Oct 27
Re: West Ham’s landlords on brink of going bust
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JohnnyL
From the Concession Agreement:
GRANTOR COVENANTS
The Grantor must:
provide the Stadium in Football Mode for the Events taking place at the Stadium during the
Football Season (other than for Events taking place during li) the Athletics Window. subject
to Clause 6.3, and (ii) the Championship Window);
Football Mode means the Stadium provided m compliance with the Football Mode Seating
Requirement;
Football Mode Seating Requirement means a temporary seating structure to cover the running
tr~ck and provide seating on each side of the playing surface with the front of each seat in the front row of the Lower Tier being between 10 metres and 20 metres (inclusive) from the edge of the playing surface, and adequate roofing to cover all the seats provided in the temporary seating structure that will provide the Stadium with the Agreed Capacity;
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JohnnyL
4:08 Fri Oct 27
Re: West Ham’s landlords on brink of going bust
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But does anyone know if the owners can legitimately say that West Ham can play at stadium for 99 years using the Athletics seats and he full running track on show?
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Eggbert Nobacon
3:56 Thu Oct 26
Re: West Ham’s landlords on brink of going bust
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West Ham safe in London Stadium despite fears over viability of stadium operator
By Sky Sports News
Last Updated: 26/10/17 1:23pm
West Ham are safe in their new home despite fears over the viability of the operator of the London Stadium, Sky Sports News understands.
Spiralling costs and limited income has meant the E20 Stadium body, set up to run the former Olympic stadium, was struggling to make ends meet.
With administration looming, fears were growing that West Ham might find themselves locked out of their new home.
However, Sky Sports News has studied their agreement with LLDC (London Legacy Development Corporation) and can confirm that West Ham are safe.
If E20 stadium did fall into administration, the contract clearly points out that the agreement would automatically transfer to the LLDC.
Last year London mayor Sadiq Khan commissioned a report into the financing of the stadium under Boris Johnson. That report, from auditors Moore Stephens, was due in June, but has yet to be published.
One source has today told Sky Sports News that they expect that report to be published in "weeks rather than months".
Its publication will coincide with renewed calls for West Ham to increase their current annual rent of £2.5m. However, we understand the terms of the 99-year lease are unlikely to be renegotiated.
Sources at West Ham are relaxed about the financial predicament of E20, and believe their future at the London Stadium will be unaffected even if it falls into administration.
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Jim79
3:35 Thu Oct 26
Re: West Ham’s landlords on brink of going bust
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After some feverish googling I don't think there is a UEFA requirement for all seats to be covered. Just that the press boxes, VIP areas, dug-outs have to be covered.
The Nom Camp hardly has a roof, nor the Bernabeu. Granted they are in Spain but I'm pretty sure they cannot use a country's climate as a stick to hit them with as its not a constant.
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AdamL
3:30 Thu Oct 26
Re: West Ham’s landlords on brink of going bust
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The 8 million to move the seats is a scandal. I cannot believe for the cost of 3 years worth of removals - 24 million - they couldn't have designed retractable seating to get the supporters pitchside. Hell, even 10 years worth at 80 million is still a sensible long term investment. It really does seem like this was fucked up really badly.
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Serious Drinking
3:28 Thu Oct 26
Re: West Ham’s landlords on brink of going bust
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I don't think there is a UEFA rule that all seats have to be covered by a roof. I can remember being at Palermo away and they had no roof except on a bit of the main stand. I think in warmer countries it's common, even the Nou Camp is only partially covered.
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1964
3:17 Thu Oct 26
Re: West Ham’s landlords on brink of going bust
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More here, the penultimate paragraph is interesting but probably bollocks ...
https://www.standard.co.uk/news/london/olympic-stadium-will-compete-with-wembley-for-gigs-to-beat-cash-crisis-a3668596.html
More pop concerts and major sports events are being lined up to be staged at the Olympic stadium in a bid to fend off its cash crisis.
Legacy chiefs are trying to replace Wembley Stadium as the capital’s premier outdoor music location in a series of initiatives to avoid further public money being used as a bail-out.
The London Legacy Development Corporation, the City Hall-run quango, has set aside £200 million in terms of potential future losses at the stadium if no action is taken.
Today, it was reported that E20 Stadium LLP, the joint venture set up by the LLDC and Newham council to be the stadium landlords, was at risk of going into administration. Stadium sources told the Standard that this was “premature” and an over-dramatic interpretation of the challenges and insisted they were doing everything possible to avoid requiring more taxpayer cash.
The venue, now called the London Stadium and home to West Ham football club, has already hosted AC/DC and Robbie Williams, with Foo Fighters announced for next summer.
A source said: “We are looking at how we can improve the commercial performance of the stadium by bringing in other events, in particular, events that make more profit.
“The stadium itself runs incredibly well and the World Athletics Championships this summer sold out. The issue is how do we drive the costs down and grow our revenue.”
A report commissioned by Mayor Sadiq Khan into why it cost £323 million to convert it for use as a football ground is due out next month, two months behind schedule.
Mr Khan has discussed the “blue sky thinking” idea of hosting baseball at the stadium, similar to how Wembley hosts American football.
The LLDC is also seeking to sell the naming rights for the stadium, which cost £429 million to build. A possible deal with Vodafone collapsed, but other “very significant brands” have made contact.
Action is also being taken to slash the £8 million annual cost of moving the seats every summer to enable the stadium to be used for athletics.
In addition, the LLDC is seeking to renegotiate the £2.5 million-a-year, 99-year lease with West Ham.
LLDC chief executive David Goldstone told a London Assembly investigation into the stadium’s finances: “If we don’t fix it, then long term we will be looking at very significant accumulated losses.
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franksfat&slow&wank
3:13 Thu Oct 26
Re: West Ham’s landlords on brink of going bust
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this sounds very much like those 3 herberts
is it fair to say if this lot do go into admin then the only real interested buyer is us based on our long term lease agreement thetherefore in a strong position to secure a knocked down price?
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SurfaceAgentX2Zero
3:12 Thu Oct 26
Re: West Ham’s landlords on brink of going bust
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According to Deloitte these sports are all more popular than athletics:
Football
Rugby Union
Rugby League
Cricket
Motor sport
Horse racing
Equestrian
Tennis
Golf
Greyhound racing
Fuck 'em!
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On The Ball
3:10 Thu Oct 26
Re: West Ham’s landlords on brink of going bust
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Well it was meant to be done using retractable seating, but the company supplying it went bust before they started the work - hence the breeze block workaround. Obviously that wouldn't cost £8m a year.
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franksfat&slow&wank
3:06 Thu Oct 26
Re: West Ham’s landlords on brink of going bust
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PLEASE KNOCK THE CUNT DOWN
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13 Brentford Rd
3:03 Thu Oct 26
Re: West Ham’s landlords on brink of going bust
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Shame they can't kick us out.......
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1964
3:02 Thu Oct 26
Re: West Ham’s landlords on brink of going bust
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They get more than the rental income though - catering? Although I doubt it covers the 8mil
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Mr John
2:56 Thu Oct 26
Re: West Ham’s landlords on brink of going bust
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I'm a commercial property lawyer and pedant is right....as long as we pay our rent, the financial position of the landlord has no bearing on our lease and our right to continue using the stadium. That's inaccurate and poor quality reporting byThe Sun.
I can't believe it costs £8m a year to convert it from footy to athletics
With a rental income from the footy o f£2.5m a year, how were they ever expecting to make a profit? Surely they were not expecting athletics (which let's face it, must be the third or fourth most popular sport in the country) was going to make up the difference.
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Pedant
2:54 Thu Oct 26
Re: West Ham’s landlords on brink of going bust
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Pretty sure it is a UEFA requirement for all seats to be covered.
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Jim79
2:49 Thu Oct 26
Re: West Ham’s landlords on brink of going bust
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Is there some kind of prerequisite for all seats to be covered by the roof? Is it some sort of legal or health and safety obligation?
Couldn't we just sell those tickets as Band 9 or whatever for a slight discount and a free poncho and bucket of popcorn.
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ted fenton
2:45 Thu Oct 26
Re: West Ham’s landlords on brink of going bust
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We better sign up Top cat and see if he can do a deal at the Halifax.
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