Hammers finally nail deal on Olympic Stadium move

March 22 – Football’s use of the state-of-the-art London 2012 Olympic stadium has at last been resolved after the government agreed to put in an extra £25m towards the costs of converting the venue, allowing Premier League West Ham United to take over.

A deal was secured only after the Premier League club agreed to increase their own contribution towards conversion by £5m, to £15m. They will move from Upton Park ground in August 2016 and pay around £2m a year rent.

Under conversion plans, the roof will be extended and capacity reduced from 80,000 to 60,000, with retractable seats allowing the venue to switch from football to athletics and back again.

Although West Ham were appointed preferred bidders by the LLDC three months ago, occupation of the Olympic site has been a constant problem with a series of setbacks, most of them financial. The new deal will be a huge relief to the government, who will now contribute £60m towards conversion costs, amid fears the stadium could have turned into an embarrassing white elephant.

Barry Hearn, boss of lower-league Leyton Orient, is still seeking a judicial review though his chances of success appear to be receding and the LLDC is confident it will be thrown out. Hearn revealed this week that he will stop his pursuit of a ground share should he lose.  The LLDC and West Ham will instead work towards selling the naming rights for the stadium.

“I’m delighted that we have been confirmed today as the anchor concessionaire for the Olympic Stadium,” said West Ham vice-chair Karren Brady. “I commend my two chairmen [David Gold and David Sullivan] for their passion and commitment. I am delighted this has been rewarded now that their ambition to see the club they love enjoy a bright future at the iconic Olympic Stadium has been realised. It was important to me that we struck a deal that would stand the test of time that represented the right deal for West Ham United and our loyal and patient supporters.