The owners of West Ham United’s London Stadium, the London Legacy Development Corporation (LLDC) are set for a poor financial update in a board meeting on Monday, according to Claret and Hugh.
The club source claim on their website that the latest financial year ended in March and the LLDC are set to learn of losses up to £25.5million.
Claret and Hugh reported that the company had hoped for a boost in terms of finances after hosting the Major League Baseball, but that figures concerning the stadium have continued to spiral.
It is suggested that these losses are not sustainable as the tax-payer continues to subsidise the losses each year.
Well then, something is going to have to drastically change in East London for the Hammers and the LLDC to benefit from the London Stadium. After reports from the Evening Standard had claimed that vice-chairman Karren Brady had taken a central role in the hunt for a new stadium name, ExWHUemployee revealed an announcement regarding that is set to happen before Christmas. What they didn’t reveal is the fact that the stadium is causing massive losses – a much larger concern at this moment. Despite the apparent financial struggle, Claret and Hugh reported on Saturday that the LLDC wanted to transform the pitch at the stadium to make it capable of hosting music events. The London Stadium has only hosted one concert since being built, and in their current debacle, you would think that they would be more concentrated on trying to find a solution to fix their finances, rather than coming up with other ideas that cost more money.