There are at least three groups of people discontented with West Ham’s move to the Olympic Stadium: those who think taxpayers who have got a raw deal; fans of other teams who feel that West Ham have been given an unfair advantage, not least those of Leyton Orient; and West Ham fans who are unhappy about the move who are probably more numerous than the owners claim.
There are at least three groups of people discontented with West Ham’s move to the Olympic Stadium: those who think taxpayers who have got a raw deal; fans of other teams who feel that West Ham have been given an unfair advantage, not least those of Leyton Orient; and West Ham fans who are unhappy about the move who are probably more numerous than the owners claim.
The Leader of the GLA Conservatives wrote to The Times yesterday stating, ‘The deal should be scrapped and a commercially viable alternative explored.’ But if there was a commercially viable alternative, surely it would have been identified by now? Only a major football club can attract large crowds to the stadium on a regular basis, As much as can be squeezed out of West Ham has been.
Many have argued that the big mistake was the initial configuration of the stadium, although I am not as convinced as some are that an alternative configuration was readily available. Even conceding that point, we are where we are. As far as London mayor Boris Johnson is concerned, West Ham were the only option that would avoid ‘nothing down the track except tumbleweed’.
It is going to cost at least £150m plus a contingency fund to convert to a 54,000-seater stadium taking the overall costs to around £600m. £38.7m is left over from the £9.3 billion Olympic budget. There is a £40m loan from Newham Council, which will own 35 per cent of E20 Stadium LLP, the joint venture company. The Treasury has put in £25m and West Ham £15m.
That still leaves a funding gap and not all of it can be met by naming rights, the first £4m of which each year will be taken by the London Legacy Development Corporation. The rest of the funding will have to come from public works borrowing underwritten by the London taxpayer.
As far as other fans are concerned, there must be some doubts about whether West Ham can fill the stadium. However, they believe that its location in an iconic stadium (albeit one that will look very different when it is converted) next to the UK’s largest shopping centre will make it a big draw for foreign football tourists. What they will do for the atmosphere is another question, but expect plenty of shouting in Norwegian.
As for Leyton Orient, apparently some uncomplementary remarks were made about West Ham at their game yesterday. Their sense of grievance is understandable. But I do not think it would be good for their fans to rattle around in a big stadium like the English equivalent of Queen’s Park. Some people might be attracted to what I still call Brisbane Road for an ‘authentic’ football experience.
City Hall are confident they can make £2m a year out of the stadium. This depends on West Ham staying in the Premiership, as well as attracting other sports such as cricket and baseball, along with rock concerts (for which there is also the O2 arena just across the river). Whether there will be much scope for the promised community events remains to be seen.