West Ham will pay £2.5m a year to rent the 60,000-seater Olympic Stadium, it has been revealed after the deal was made public following a legal battle.
The ground’s owners, the London Legacy Development Corporation (LLDC), fought a ruling that the contract should be published, but the appeal was rejected this week.
West Ham will pay the sum per year over the 99-year lease, the 207-page document has revealed.
The Hammers move in this summer.
The first £4m of any naming rights deal will go to the LLDC and Newham borough, with anything above that between the two bodies and West Ham.
The rent will be halved to £1.25m if West Ham are relegated.
The LLDC, which had spent thousands of pounds fighting the ruling, said the decision could cost the organisation “millions of pounds”.
But it has decided not to appeal against the tribunal’s ruling.
The club were awarded tenancy of the London 2012 stadium in 2013, and at least £272m has been spent to convert the site for use as a Premier League ground, reports the BBC.
West Ham have contributed £15m towards those costs. Last year a BBC documentary revealed the club was having many of the running costs of the stadium paid for it by the taxpayer under the terms of the tenancy agreement.
United will not have to pay for a range of staff including cleaners and turnstile operators. Heating and lighting costs will also be covered by the stadium managers.
A coalition of 14 supporters’ trusts from around the country submitted a Freedom of Information request to obtain that tenancy agreement and believe the deal gives West Ham, who have played at Upton Park since 1904, a competitive advantage.
West Ham say they have nothing to hide, believe it is a “great deal” for the club and the taxpayer, and say the stadium offers a true legacy.
The club added: “Someone renting the stadium for 25 days a year cannot be responsible for 365 days’ running costs.”
