Alan 3:59 Wed Oct 3
US company to takeover the London Stadium?
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C&H
US company could takeover London Stadium
An unconfirmed rumour received by Claret and Hugh suggests the Mayor of London could call upon US company AEG to resolve the London Stadium financial mess.
Sadiq Khan is thought to be considering disbanding the London Legacy Development Corporation (LLDC) six years after its creation and C&H understand that one possible scenario is that the London Stadium could be run by AEG.
AEG is a the sports conglomerate owned by billionaire Philip Anschutz, which already has a great track record after it transformed London’s O2 Arena.
In their latest financial statements they reveal they have made a net profit every year for the past decade including the sale of naming nights to Spanish telecoms giant Telefonia who trade under the O2 brand.
The O2 Arena has made combined net profits of £146.1 million since AEG took it over in 2002 after the British government failed attempt to make it work as a theme park.
Like the Olympic Stadium it was originally called the Millennium Dome and cost around £700 million to build, with the bulk of the funding coming from taxpayers’ money. The venue reportedly cost taxpayers £1 million in losses per month to maintain it before AEG stepped in.
AEG is most famous for its investments in NBA’s LA Lakers and the LA Galaxy Major League Soccer team but it also owns some of the world’s most well-known arenas. Its portfolio is crowned by the Staples Center in Los Angeles but also includes New York’s PlayStation Theater, the Mercedes-Benz Arena in Berlin, and the Barclaycard Arena in Hamburg.
In 2010 the US company submitted a rival bid with Spurs to take over the stadium.
ClaretandHugh have been unable to corroborate the rumour but it could make sense on the face of it. West Ham would need to agree to the takeover and the terms of West Ham agreement could need to be honoured for the next 97 years.
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Replies - Newest Posts First ( Show In Chronological Order)
Gavros
3:44 Thu Oct 4
Re: US company to takeover the London Stadium?
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he he touche!
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Lee Trundle
3:39 Thu Oct 4
Re: US company to takeover the London Stadium?
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"its just whetstone trying to come up with stuff. probably just daydreamed it while at work"
https://heritageaction.files.wordpress.com/2018/02/irony.jpg?w=300&h=150
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Gavros
3:16 Thu Oct 4
Re: US company to takeover the London Stadium?
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its just whetstone trying to come up with stuff. probably just daydreamed it while at work.
of course its possible that they will outsource to a private firm but as stands that would include ongoing subsidy to take it off the governments hands. a private operator would however likely be far more flexible, as the political heat would be off.
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Whusamuel
3:14 Thu Oct 4
Re: US company to takeover the London Stadium?
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Where did they get this from? doesn't show up anywhere else
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WorldCupWilly
3:12 Thu Oct 4
Re: US company to takeover the London Stadium?
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That it's from C&H is all you need to know - including these statements:
"An unconfirmed rumour received"
"ClaretandHugh have been unable to corroborate the rumour"
The rest of the article is all about AEG themselves and nothing about why and how they would take over. Even Gavvy's ramblings are more pertinent then this crap.
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Northern Sold
11:56 Thu Oct 4
Re: US company to takeover the London Stadium?
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Reply Gavros 12:23 Thu Oct 4
Turn it in Gavvy for fucks sake.... you should have put the white flag a couple of years ago...
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SurfaceAgentX2Zero
11:54 Thu Oct 4
Re: US company to takeover the London Stadium?
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Luke
I imagine sweeteners will be offered.
Certainly good for G&S and probably (possibly?) good for the fans
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COOL HAND LUKE
11:18 Thu Oct 4
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If agreeing to AEG coming in will ultimately stop us being able to buy the stadium, why on earth would we vote for it..?
It will tell us much about the Daves if they let this one through...
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Gavros
12:23 Thu Oct 4
Re: US company to takeover the London Stadium?
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On a bit of a segue....I note that they've started to not bother retracting the east stand anymore in athletic mode.
This suggests that we could see a permanent east and west lower tier built that is straightened out. 10 metres from pitchside would still accommodate the track and not be too bad by modern stadia standards. The ends will remain moveable while athletics is there though. This would save the owner of the stadium a fortune and also make fans happier. There would be a wedge gap on the side between lower and upper tiers which would accommodate more partay decks.
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DP
10:55 Wed Oct 3
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Apparently West Ham would have to agree to the deal before the running can be taken over by another company - we would have them over a barrel, could give them a long list of demands etc!
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Mike Oxsaw
8:33 Wed Oct 3
Re: US company to takeover the London Stadium?
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It would be political suicide to let West Ham take over the freehold, so every other opportunity for the government to bail out of the situation will be chased with relish.
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Vexed
8:24 Wed Oct 3
Re: All part of the takeover. Hence the investment in the summer
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Steven P 4:17 Wed Oct 3
Plank
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Mex Martillo
8:19 Wed Oct 3
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Change of landlord could, not get worse, could it?
Perhaps it throws up an opportunity to get out of it and get our own pad again.
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Gavros
6:12 Wed Oct 3
Re: US company to takeover the London Stadium?
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sorry mean the olympic village!
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gph
6:08 Wed Oct 3
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Do they think it's Wembley and are they going to put it next to London Bridge, in Lake Havasu City?
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Eggbert Nobacon
5:28 Wed Oct 3
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Gavros
From good ole Bangaroo
Lendlease Group is a multinational construction, property and infrastructure company headquartered in Barangaroo, Sydney, Australia.
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Gavros
5:24 Wed Oct 3
Re: US company to takeover the London Stadium?
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I reckon the group behind the International Quarter (the office buildings between Westfield and the stadium) will buy it.
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BRANDED
5:22 Wed Oct 3
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Do you not like it Northern?
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Eggbert Nobacon
5:17 Wed Oct 3
Re: US company to takeover the London Stadium?
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Admiral Lard 4:07 Wed Oct 3
Re: US company to takeover the London Stadium?
Probably be a very good thing for both the stadium and West Ham...
very likley the end of any hope of us buying it
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VirginiaHam
5:12 Wed Oct 3
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Why ask a group that manages many stadia around the world successfully to step in and replace one that doesn't?
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Gavros
5:07 Wed Oct 3
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"hi AEG, do you want to take over this stadium that's costing us £4 million a year to run?"
"How much are you going to pay us to do that?"
"nothing"
"no"
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