West Ham relegation may cost London taxpayers £2.5m
Summary
West Ham United faces relegation from the Premier League, which could cause London taxpayers to lose up to £2.5 million annually. This is due to the club paying less rent under its lease agreement for London Stadium if they move down to the Championship league.Key Facts
- West Ham is currently 18th in the Premier League with one game left and is likely to be relegated.
- Tottenham, two points ahead with a game in hand, can confirm West Ham's relegation with a draw against Chelsea.
- West Ham has a 99-year lease agreement for London Stadium, paying £4.4 million per year in rent.
- If relegated, West Ham would pay about half of their current rent to the Greater London Authority.
- This rent reduction would create a funding gap of up to £2.5 million that London taxpayers would cover.
- Mayor of London Sadiq Khan criticized the lease deal made in 2012, saying it is unfavorable for taxpayers.
- Stadium operating costs, like stewarding, might increase because Championship teams play more home games (23) than in the Premier League (19).
- Commercial revenues from the stadium are expected to decrease if West Ham plays in the lower league.
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