The owner of the London Stadium, is losing £20
million (US$24.3 million) a year on the venue, according to reports of Freedom
of Information request from the Press Association (PA), shows£6 million (US$7.3
million) was spent converting the stadium from a soccer ground to a multi-use
venue and back again over the summer.
The
London Stadium now primarily serves as the home ground for Premier League club
West Ham United, but was converted into a Major League Baseball (MLB) ballpark
to host two regular season games between the New York Yankees and Boston Red
Sox in June, costing £1.9 million (US$2.3 million) alone, £500,000 (US$608,000)
higher than initially estimated.
The £6million
figure is up from the £4.1 million (US$5 million) in 2018, when the stadium
hosted several high-profile music concerts and three weekends of international
athletics. However, it did not reach the £11.3 million (US$13.7 million) in
2017 when the venue staged the World Athletics and World Para Athletics
Championships.
Another
major expenditure was the £4 million (US$4.9 million) spent on legal fees in a
failed attempt to get West Ham to pay more rent.
The top-flight
team agreed to pay £2.5 million (US$3 million) a year for a 99-year lease,
significantly less than expected after at least £272 million (US$331 million)
was spent turning the site into a Premier League stadium, for which West Ham
contributed £15 million (US$18.2 million)
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