West Ham United have released a statement in response to today's publication of the stadium concession agreement
West Ham United have released a statement in response to today's publication of the stadium concession agreement
“This publication does not affect West Ham United or our move to the former Olympic Stadium in any way.
“From our perspective, we welcome the publication of the concession agreement as it proves that, as we have always maintained, the Club has nothing to hide.
“Importantly, people can now see that the full revenue streams from which the stadium's owners will benefit go well beyond the widely-reported payments we have committed to make to the transformation costs and our annual usage fee for using the stadium 25 days a year.
“Those revenue streams include the contribution of the lion's share of the income deriving from the stadium's naming rights, catering, stadium tours, all non-matchday income and further substantial revenue if - as is our primary focus –the Club continues to enjoy success on the pitch. We firmly believe it is a great deal for both West Ham United and also the taxpayer.
“Working with our partners over the past three years, our vision, perseverance and unwavering belief in the stadium’s potential has helped design and create the magnificent 60,000 capacity venue we see today. It is a stadium that the nation can be proud of and we believe it will become one of the greatest football stadiums in the world.
“And let us not forget that West Ham United were named anchor concessionaire of the stadium after a fair, transparent and robust process open to any organisation in the world. We were unanimously chosen as the anchor tenant, above others, including football clubs such as Tottenham Hotspur and Leyton Orient, as we offered the best deal and the only option for a true and lasting legacy for Queen Elizabeth Olympic Park.
“As the Commissioner identifies, the factor which sets the agreement with West Ham apart from that of any other stadium user is our commitment to a 99-year commercial lease, which ultimately secured the stadium's future and the success it is now guaranteed to enjoy. It will be sold out for every West Ham home game from next season onwards, meaning our presence will bring hundreds of millions of additional people and billions of pounds of extra revenue over the course of the tenancy.
“But while someone renting the Stadium for 25 days a year cannot be responsible for 365 days’ running costs, going by our performances this season, we hope to deliver additional revenue to the stadium via extended cup runs and big European nights. This will secure the international exposure and additional usage and revenue that may now be more challenging for the Stadium owners to find elsewhere as a result of this ruling.
“Because of West Ham United and our brilliant supporters, the Stadium now has a true legacy and viable future for generations to come. We look forward to showcasing it to the world when we play our first game there in August."
“This publication does not affect West Ham United or our move to the former Olympic Stadium in any way.
“From our perspective, we welcome the publication of the concession agreement as it proves that, as we have always maintained, the Club has nothing to hide.
“Importantly, people can now see that the full revenue streams from which the stadium's owners will benefit go well beyond the widely-reported payments we have committed to make to the transformation costs and our annual usage fee for using the stadium 25 days a year.
“Those revenue streams include the contribution of the lion's share of the income deriving from the stadium's naming rights, catering, stadium tours, all non-matchday income and further substantial revenue if - as is our primary focus –the Club continues to enjoy success on the pitch. We firmly believe it is a great deal for both West Ham United and also the taxpayer.
“Working with our partners over the past three years, our vision, perseverance and unwavering belief in the stadium’s potential has helped design and create the magnificent 60,000 capacity venue we see today. It is a stadium that the nation can be proud of and we believe it will become one of the greatest football stadiums in the world.
“And let us not forget that West Ham United were named anchor concessionaire of the stadium after a fair, transparent and robust process open to any organisation in the world. We were unanimously chosen as the anchor tenant, above others, including football clubs such as Tottenham Hotspur and Leyton Orient, as we offered the best deal and the only option for a true and lasting legacy for Queen Elizabeth Olympic Park.
“As the Commissioner identifies, the factor which sets the agreement with West Ham apart from that of any other stadium user is our commitment to a 99-year commercial lease, which ultimately secured the stadium's future and the success it is now guaranteed to enjoy. It will be sold out for every West Ham home game from next season onwards, meaning our presence will bring hundreds of millions of additional people and billions of pounds of extra revenue over the course of the tenancy.
“But while someone renting the Stadium for 25 days a year cannot be responsible for 365 days’ running costs, going by our performances this season, we hope to deliver additional revenue to the stadium via extended cup runs and big European nights. This will secure the international exposure and additional usage and revenue that may now be more challenging for the Stadium owners to find elsewhere as a result of this ruling.
“Because of West Ham United and our brilliant supporters, the Stadium now has a true legacy and viable future for generations to come. We look forward to showcasing it to the world when we play our first game there in August."