Bassam Mahfouz AM calls for the Mayor to explore London Stadium sale to West Ham

Bassam Mahfouz AM has written to Sadiq Khan urging him to consider a sale of the London Stadium to West Ham United Football Club.  

The current deal means London taxpayers are set to pay a further £1.75 billion to fulfil the existing deal between the club and the stadium.  

The long-term tenancy agreed by West Ham and former Conservative Mayor Boris Johnson already costs the taxpayer £19 million a year. After the club’s relegation last season, their rent contribution has now fallen to just £3 million per season after previously being £4.5 million. This has left London taxpayers to pay the difference.  

The Mayor has since responded to Bassam’s letter, stating he would consider ‘any credible proposal’ to offload the stadium. In his response, he wrote: 

“As you rightly note, we have had to make the best of a challenging contractual position inherited from the previous Mayor,” 

“Despite these constraints, I am proud of the progress we have made in ensuring that the stadium works as hard as possible for Londoners. 

“I have always been clear that we would consider any credible proposal for the stadium, provided it offers value for taxpayers, protects the public interest and preserves the wider economic, social and sporting benefits the venue delivers for London.” 

Bassam Mahfouz, London Assembly Member for Ealing and Hillingdon and Labour’s Economy Spokesperson on the London Assembly, said; 

“With the new ownership working alongside a Mayor who is clear in his aim to find the best outcome for Londoners, this could represent a positive step forward for the situation.

Given the amount Londoners are currently paying, it would be irresponsible for us not to examine whether there is a better option out there.

The burden should not fall indefinitely on taxpayers. If there is any credible proposal that protects the stadium’s future and gives Londoners better value for money, we should be prepared to explore it.”

A spokesperson for the Mayor of London said:  

“London Stadium sits at the heart of the world’s most successful Olympic and Paralympic legacy, helping to drive growth, investment and opportunity across east London.

The reality remains that the previous Mayor negotiated and approved a contract with West Ham United for London Stadium that is a bad financial deal for Londoners. The Greater London Authority has no choice but to honour the contract, which doesn’t provide any form of break clause and delivers significant losses to the taxpayer.

The Mayor has been clear that he would consider any credible proposal for the Stadium, provided it offers value for taxpayers, protects the public interest and preserves the wider economic, social and sporting benefits the venue delivers for London.”