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SBD Global/February 19, 2013/Franchises
West Ham's Move Into London's Olympic Stadium Stalls Again Over Approval Process
Published February 19, 2013
Negotiations over EPL West Ham United's move into London's Olympic Stadium will extend beyond Tuesday as "a saga that has lasted more than two years limps towards a conclusion," according to James Riach of the London GUARDIAN. The London Legacy Development Corporation was "expected to rubber-stamp the move on Tuesday" after West Ham "upped its annual rent offer" of £2.5M ($3.9M), as well as £6.5M ($10M) in sponsorship and catering income, for the £429M ($666M) stadium. Once the deal is ratified by the LLDC, Newham council's offer to part-fund the £160M ($248M)-plus conversion costs of a new cantilevered roof and retractable seats "still has to be approved." Also, a special-purpose body, set-up by the council and the LLDC, "will also have to formally confirm any agreement" (GUARDIAN, 2/18).
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