Kieran Maguire details £3m London Stadium expense West Ham United can offset against FFP
West Ham can offset the £3million they pay in rent at the London Stadium against FFP, according to Kieran Maguire.
Speaking on The Price of Football podcast on Thursday (11 April), the football finance expert revealed that the expenditure goes down as a “liable cost”.
But he added that the London Council – or the taxpayer – pays out up to £16million a year to recoup the £3million the Hammers pay to play at the stadium.
“That £3million rent that West Ham pay, is that offset against FFP?” asked host Kevin Day.
“Yes, that’s a liable cost,” said Maguire. “Even though it costs London Council £16million to recoup £3million in rent, or rather it’s costing you.”
West Ham good deal on London Stadium
It’s pretty clear that West Ham have an extremely good deal in place for them to play their football at the London Stadium.
The agreement has been a bone of contention for a number of years as many people believe the taxpayer shouldn’t have to fork out as much as £16million a year to maintain the stadium.
But it’s a positive from the Hammers’ perspective that, despite it not being a massive amount of money, they can register the £3million as a liable cost to offset it against FFP.
After Premier League clubs have been heavily scrutinised for their spending in recent years, any advantage you can look to get in that avenue is welcome to avoid landing in any financial trouble.
Although it took the Irons a few years to adapt to life at the London Stadium, they have had some extremely positive results there over the past couple of seasons.
In other West Ham news, the Hammers have received a boost in their pursuit of a Euro forward.
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