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Sounds like a great deal for the taxpayer's who paid for it to be built 
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And us lottery players. Surely this can't be allowed to happen. Hope Orient get a result in court.
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Not the full story now tobermory is it?
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100 year lease ain't it?
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£2M a year for 99 years ,not even half of Andy Caroll's salary
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the cheeky fkrs opening bid was £5M too!
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what is the full story?
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Well the figures are out there but tobermory is drip feeding them
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£2M a year for 99 years ,not even half of Andy Caroll's salary
________________ 2m a year ?  thats the same as paying £20 a week rent to live in a 4 bed detached house |
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Olympic stadium construction cost - forecast in March 2012 at £428m
Conversion cost - £150m+ made up of... West Ham - £15m Newham Council - £40m Government available funds - £25m Additional £80m - 18.75 per cent from private sources, 81.25 per cent from public money £2m a year lease |
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good deal for West Ham, bad deal for the tax payer but if you build a white elephant that's what you get
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but then they would have known it would become a white elephant ....thats the price you pay for an olympic stadium ..
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Absolute liberty the way government looks after pikeys at the taxpayers expense .
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The possible conversion should have been taken into account before, this is not west hams fault but a nice touch for them. The figures return are:
£2.5 million per year linked to RPI over the 99 year lease percentage of profit if west ham is sold within the first 10 years of 99 year lease Percentage of naming rights and catering, ovevr 99 yrs which is believed to average about £8 million a year Percentage of concerts etc held there each year est £2 million That comes in at a little bit more than tobermory's paltry sensationalist £15 million statement. |
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The problem is that most people have fallen for the "what a great success the Olympics was" propaganda. The stadium was poorly designed at the outset, with no thought for the famed legacy - the reality is that the stadium was tantamount to useless once the Games were over so options after that were extremely limited.
I have no desire whatsoever to see my team based there so do not see it as a great triumph. Rather than focus their discontent towards West Ham, however, people should be asking the question of Seb Coe and his chums as to what they were really thinking about at the outset - God forbid it was all about personal vanity?! |
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Was it ever intended to be sold for the benefit of the taxpayer???
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99 year lease ?
it will be ready for pulling down in 30 years time it's built with new materials and will eventually wear away , there won't be any naming rights within 20 years |
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Think Munich's Olympic stadium ,built in 1972
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The only way they'd want to sell up in 1st 10 years is if they were in League One in which case there wouldn't be much %
The % of concerts etc depends how big the % the government will get, which i doubt will be anything like the % the taxpayer will pay towards the reconstruction On Mover's figures , by the time they move in , West Ham will have paid £23M and taxpayers will have paid £130M |
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The reality is that athletics is basically a minority support so building a massive stadium and insisting that it remains used for that purpose was, at the very least, misguided. How successful was the much smaller Crystal Palace? Why did Sydney, the host of one of the most successful Games of recent times, rip out the athletics track as soon as the Games were finished?
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To me it is an astonishingly generous deal for West Ham , without them having to run any serious risks , and not contributing anywhere near the same % of their resources as Arsenal had to for The Emirates.
Arsenal are paying £20M a year for many years to come and had £0.00 of taxpayer money to help them. Cannot see Naming Rights getting near £8M for West Ham , who may not even be in the Premier League half the time ,Arsenal's deal with Emirates Airlines seems to work out about £10M per year and this is (or was) a Champion's League Club |
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Maybe it is, but the Govt backed themselves into a corner with the whole thing. In the absence of any other credible alternative, West Ham were in a strong negotiating position - as I have said earlier, the fault lies with those who failed to plan sensibly beyond the glory of the Games.
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Couldn't they have a bidding war going with Spurs ?
Though i guess the insistence on the retractable seating (which Spurs would not have) meant they did indeed paint themselves into a corner. Mug Politicians..... Gold & Sullivan must have thought it was Xmas dealing with them. |
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A bidding war with Levy.
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actually i think Arsenal have may already paid a lot more for The Emirates than West Ham will pay in 100 years
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Spurs were interested though, the alternative will cost them far more , surely these politicians could have kept it going a while
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can't argue with what Barry Hearn says...
"West Ham are selling Upton Park but only contributing £15million to the stadium, should they be given a free home like this? I'm just asking a question. "It does seem unfair that Arsenal and Tottenham are spending hundreds of millions of pounds on their own stadiums because they are stand-alone commercial enterprises and West Ham are being levered at huge discount and you have to ask yourself the question why. What has gone on for them to get that deal?" |
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Could the Government not at least insisted on taking the proceeds of the Upton Park sale
 West Ham would still likely have taken the deal considering what they were getting in return. |
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What did man city pay for the stadium of theirs after it was built for the world athletics championships or something
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I WONDER HOW MUCH THE LAND IS WORTH FOR PROPERTY DEVELOPMENT ?
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looking it up, seems City paid £20M towards the conversion and £4M a year rent, so still owned by Manchester Council
http://www.guardian.co.uk/football/2011/oct/04/manchester-city-council-stadium-naming-rights? |
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Any land in London seems to be worth a fortune , maybe WHU will make more from the sale of Upton Park than they pay for the Olympic Stadium
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City's stadium cost £112 million, slightly less than the Olympic Stadium
 Manchester city council still owns the stadium, on which it spent £22m of council tax payers’ money to have the running track removed and convert it for City to occupy as tenants after the Commonwealth Games. City handed their former Maine Road home to the council, and spent £20m installing bars, restaurants and corporate entertaining areas. The terms of the rent were for City to pay the council a proportion of ticket income above Maine Road’s 32,000 capacity, which has produced around £2m for the council annually since 2003 – £16m in total. The council’s income from the stadium goes into other sports facilities on the site, according to the original agreement with Sport England, which provided £90m in lottery funds to build the stadium. Read more: http://www.dailymail.co.uk/sport/football/article-2045532/Manchester-City-fresh-controversy-400m-deal.html#ixzz2OPQ5tpsU Follow us: @MailOnline on Twitter | DailyMail on Facebook |
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City handed their former Maine Road home to the council
so there was a precedent for that ,but Boris Johnson is not asking for a penny of the proceeds of the Upton Park sale  seems 474 houses were built on Maine Road and 600 odd flats at Highbury so Upton Park sale would be huge |
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YEH BUT WHO WOULD WANNA LIVE ROUND UPTON PARK, 600 FLATS AT £2 EACH AINT GONNA GENERATE MUCH.
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