West Ham United Left to Sweat as London Stadium Ownership Group May Enter Administration Next Month
West Ham United could find themselves in trouble soon as their new home could be stripped from ownership group E20 Stadium LLP.
London mayor Sadiq Khan is growing wearisome due to the amount of public tax money it has taken to help keep the company afloat. With a loan of £14m last year, a disastrous final net loss of £22m was totalled, and now the Hammers could face the possibility of having to find a new venue for their matches.
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According to talkSPORT, it seems taxpayers were not the only ones that have helped to keep E20's heads above water, with the Greater London Authority also providing them with substantial capital.
As the London Legacy Development Corporation has only committed to keeping the London Stadium afloat until September, West Ham's £2m per annum rent payment may be significantly bumped up.
E20's board believe that LLDC will continue in providing financial aid until next March, however it is expected Sadiq Khan's patience will run out around that time.
TalkSPORT also highlight the quickness of an LLDC spokesperson to play down the troubles, saying: “London Stadium funding remains secure with the loan continuing to be extended as progress made to placing it on a firm financial footing continues.
“We continue to work with partners to provide a fantastic venue that delivers for everyone.”
The current stadium hasn't exactly been a hit with the Irons support since their 2016 move from the Boleyn Ground, and this news won't make the situation any better. No points from their opening three games only adds to their frustration.
