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 - In Chronological Order ( Show Newest Messages First)
Spandex Sidney
4:06 Wed Oct 3
Re: US company to takeover London Stadium?
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'In 2010 the US company submitted a rival bid with Spurs to take over the stadium.'
Fuck them then, tell them to fuck off, I like costing the public purse, a constant reminder how inept all politicians are
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Admiral Lard
4:07 Wed Oct 3
Re: US company to takeover the London Stadium?
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Probably be a very good thing for both the stadium and West Ham...
66,000 seats actually being used, proper club livery throughout
no more issues with using the stadium in August etc
Current landlords are a useless rabble, AEG know what they are doing.
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ludo21
4:11 Wed Oct 3
Re: US company to takeover the London Stadium?
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I didn’t know that the London Stadium was originally called the Millenium Dome.
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Steven P
4:17 Wed Oct 3
All part of the takeover. Hence the investment in the summer
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Mr Anon
4:18 Wed Oct 3
Re: US company to takeover the London Stadium?
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Ludo,
It was built for the millennium celebrations.
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Mr Anon
4:19 Wed Oct 3
Re: US company to takeover the London Stadium?
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Ignore me!
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Northern Sold
5:00 Wed Oct 3
Re: US company to takeover the London Stadium?
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Great news.... they'll get in... look around... realise it's a cesspit... blow the place up... start again... and build a stadium to do our team justice... job done... everyone's a winner
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Gavros
5:07 Wed Oct 3
Re: US company to takeover the London Stadium?
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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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VirginiaHam
5:12 Wed Oct 3
Re: US company to takeover the London Stadium?
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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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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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BRANDED
5:22 Wed Oct 3
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Do you not like it Northern?
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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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Eggbert Nobacon
5:28 Wed Oct 3
Re: US company to takeover the London Stadium?
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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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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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Gavros
6:12 Wed Oct 3
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sorry mean the olympic village!
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Mex Martillo
8:19 Wed Oct 3
Re: US company to takeover the London Stadium?
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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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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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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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DP
10:55 Wed Oct 3
Re: US company to takeover the London Stadium?
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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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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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