Guffwatch

Unpacking the West Ham news cycle.

ownership

Calls to reassess London Stadium ownership

Started Last Movement

Bassam Mahfouz has reportedly asked Sadiq Khan to assess the London Stadium’s long-term ownership options, including a sale. That creates a live political question, not a deal for West Ham.

No-Guff Summary

  • Mahfouz has reportedly written to Khan seeking a full ownership assessment, including a potential sale.
  • The current setup is said to cost London taxpayers around £19 million a year, with a possible £1.75 billion lifetime burden.
  • Safeguards for athletics and other major events would reportedly form part of any assessment.
Development

Assembly member asks Khan to assess a stadium sale

A Labour London Assembly member has asked Sadiq Khan to examine the London Stadium’s long-term ownership options. That is a call to run the numbers, not a decision to sell.

Claret & Hugh, relaying City AM, reports that Bassam Mahfouz has written to the Mayor seeking a full assessment, including a potential sale. The financial argument is the sharp end of it. The current arrangement is reportedly costing London taxpayers around £19 million a year, while Mahfouz is said to have warned of a possible £1.75 billion burden over its lifetime.

Claret & Hugh also says West Ham’s rent has fallen following relegation to the Championship. Any assessment would reportedly consider protections for major athletics and other sporting events at the stadium.

For now, City Hall has been asked to examine the options. There is no reported agreement to sell and no deal for West Ham.

Sources

  • Claret&Hugh (opens in a new tab) — Reports that Labour Assembly member Bassam Mahfouz has asked Sadiq Khan to assess the potential sale of the London Stadium, while discussing the stadium’s financial burden and possible implications for proposed West Ham investment.