scott_d 10:23 Thu Aug 5
Can the OS make money for West Ham?
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There is allot of talk about West Ham potentially taking ownership of the Olympic Stadium, especially in light of the takeover talks.
The obvious question is whether we would want to considering the stadium lost GBP 29m in 2019-2020 and this loss looks to have been reduced in the last year only by a pandemic which meant the stadium couldn't be used.
However, a significant part of that cost is down to the costs involved converting the stadium from a football stadium to an athletics stadium, and back again for the Anniversary games which doesn't that much money.
The LLDC have also failed to sell the naming rights to the stadium which has cost them another big chunk of money. Whilst we don't often credit GSB for running our club brilliantly, the LLDC refused to ask them for any help in finding a stadium sponsor and instead have spend hundreds of thousands of pounds (GBP 450k I believe) on an 3rd party who's sole job was to find a sponsor and came back empty handed.
It is obvious that the people who currently own the stadium are doing a laughable job and contributing towards it's failure.
My view is that if we did not have to burden the costs of converting the stadium into an athletics event once a year for just 1 event (which puts the stadium out of use for 1 week either side of the event too) and were offered the stadium by the LLDC then, run well, I think it could possible make some money seeing as we would be able to receive 100% of event profits including match day and we would also be 2.5m better off each year on rental costs.
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Replies - Newest Posts First ( Show In Chronological Order)
Dandy Lyon
5:20 Fri Aug 6
Re: Can the OS make money for West Ham?
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Yes
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Sajmo1
1:52 Thu Aug 5
Re: Can the OS make money for West Ham?
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Pretty sure that the new owners would be more interested in the property around the stadium
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Steady
1:47 Thu Aug 5
Re: Can the OS make money for West Ham?
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I'm sure Sully could make money from it. get in cheaper stewards that support west ham, £10 a match fee plus a free coke and pie like they used to. Sponsorship deal for the naming rights, it will be called the Ann Summers Stadium. Utilise the beautiful oval shape by incorporating speedway or greyhound racing …… thank me later
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scott_d
12:49 Thu Aug 5
Re: Can the OS make money for West Ham?
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I doubt we would buy it.
It's losing allot of money, so you would hope that the LLDC would give it to us as that is better than losing £20-30m a year for the next 95 years.
If that happens that's 95 years where we don't have to pay £2.5m rent (£237.5m). Obviously there will be costs associated to the stadium that we would need to cover but that is the question here.
If we did take it on, would we take on a stadium that will always lose money or could we make money from it?
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stewie griffin
12:45 Thu Aug 5
Re: Can the OS make money for West Ham?
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what would be really revolutionary, is for new owners to come in and build us a football stadium
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PwoperNaughtyButNot
12:44 Thu Aug 5
Re: Can the OS make money for West Ham?
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We had a 99 year lease at £2m a year - why would we buy it now? Wait for 35 - 55 years and then start a 10yr negotiation
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scott_d
11:01 Thu Aug 5
Re: Can the OS make money for West Ham?
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MO agreed.
They clearly didn't think about money when they insisted that the stadium maintains it's legacy to the Olympics by hosting an annual Athletics event.
There was absolutely no thought other than, "we must have an athletics event in there every year".
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Mike Oxsaw
10:57 Thu Aug 5
Re: Can the OS make money for West Ham?
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The O/S was destined to never make money the instant Coe & Co took their decision to make it an "athletics legacy" for the whole country.
I'm sure the country has yet to show it's appreciation though, selfish fucking bastards.
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Johnson
10:50 Thu Aug 5
Re: Can the OS make money for West Ham?
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GSP - Please explain the wisdom in spending £100m+ converting a multi-purpose athletics arena that SELLS OUT EVERY WEEK TO FOOTBALL FANS in to a football stadium?
So that it can do what? Sell to the same people it’s already selling out to?
Righto.
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Kaiser Zoso
10:39 Thu Aug 5
Re: Can the OS make money for West Ham?
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Guaranteed increases in running costs, offset by pie in the sky sponsorship and event income.
Yeah, excuse me if I pass on that one.
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GreenStreetPlayer
10:38 Thu Aug 5
Re: Can the OS make money for West Ham?
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Or get the LLDC to stump up the money some hundreds of millions to convert the bowl into a football stadium fit for purpose. Then we’ll buy it though GSB are waiting to be offered it for a £1.
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Florin
10:38 Thu Aug 5
Re: Can the OS make money for West Ham?
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Yes of course it could, if managed correctly. We seem to be forgetting the complete incompetence from the Club's board as well as the LLDC. The potential is huge.
If football grounds weren't worth owning in the long term then we'd see far more sold on some sort of leaseback. Other clubs have stuffed up after selling grounds for a quick bit of cash, Coventry springs to mind and I'm sure they'd love the security of owning a ground again.
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