Two potential naming rights deals for West Ham's London Stadium have collapsed.GETTY IMAGES
Nearly £450,000 ($587,800) of taxpayers' money has been spent "trying to find a sponsor" for EPL side West Ham's London Stadium home "but a backer is still being sought," according to Frank Keogh of the BBC. The stadium's owner, the London Legacy Development Corp., has been "accused of wasting cash in its search for a naming rights partner." A sponsorship expert said that "it could take years to secure a deal." Two companies have been paid a total of £447,000 ($583,900) to try to find a naming rights partner. But after two potential deals "collapsed," no discussions are currently taking place. Telecom Vodafone pulled out of a £20M ($26.1M), six-year naming rights deal in May '17, while Indian conglomerate Mahindra had "earlier shown interest." An LLDC spokesperson said, "Two deals with global brands came close to being delivered but this is an extremely competitive and narrow market which requires significant time and effort to identify the appropriate brands able to enter into such major commercial deals" (BBC, 7/17).
