Sadiq Khan ready to discuss ‘any credible proposal’ from West Ham for London Stadium
Mayor Sadiq Khan has invited a bid from West Ham United to buy the London Stadium, saying he “would consider any credible proposal” to offload the publicly subsidised venue.
Lord Khan also talked up “recent improvements” in relations between the East London club and stadium operator the London Legacy Development Corporation – an apparent nod to the growing influence of Royal Mail owner Daniel Kretinsky at West Ham and the departure from the board of former chairman David Sullivan.
His comments come in a letter of response to Labour assembly member Bassam Mahfouz, who earlier this month wrote to the Mayor to urge him to explore a sale of the London Stadium, which currently costs the taxpayer £19m every year.
“As you rightly note, we have had to make the best of a challenging contractual position inherited from the previous Mayor,” Khan wrote in the letter seen by City AM. “Despite these constraints, I am proud of the progress we have made in ensuring that the stadium works as hard as possible for Londoners.”
He added: “I have always been clear that we would consider any credible proposal for the stadium, provided it offers value for taxpayers, protects the public interest and preserves the wider economic, social and sporting benefits the venue delivers for London.”
Khan also addressed “public speculation regarding the future ownership structure of West Ham United and whether this may lead to interest in revisiting the contractual arrangements that apply to the stadium”.
Improving relations between West Ham and City Hall
Kretinsky has agreed to increase his stake in West Ham to 46 per cent by buying the bulk of the Gold family’s 25 per cent holding. That would make the Czech energy tycoon the club’s largest shareholder, ahead of Sullivan, who stepped down earlier this year amid allegations about his historic conduct, which he has strongly denied. Vice-chair Karren Brady has also left the club in recent months.
“Clearly, the ownership of the club is a matter for the club’s shareholders. We are committed to maintaining a constructive relationship with the club’s ownership and leadership, and the stadium team has welcomed recent improvements in that regard,” Khan said.
“That relationship is important to the stadium’s continued success and to the delivery of benefits for local communities and the wider city. However, it would not be appropriate to conduct any potential commercial discussions in public or to comment on any negotiations or preparations for them.”
West Ham pay a little over £2m a year to be anchor tenants of the former London 2012 Olympic Stadium as part of a 99-year deal struck with City Hall during Boris Johnson’s time as Mayor.
Mahfouz said: “With the new ownership working alongside a Mayor who is clear in his aim to find the best outcome for Londoners, this could represent a positive step forward for the situation.
“Given the amount Londoners are currently paying, it would be irresponsible for us not to examine whether there is a better option out there.
“The burden should not fall indefinitely on taxpayers. If there is any credible proposal that protects the stadium’s future and gives Londoners better value for money, we should be prepared to explore it.”