Kieran Maguire: West Ham pay only £2.97m in rent for London Stadium
Kieran Maguire has lauded West Ham over their stadium rent expenditure in comparison to rivals Tottenham Hotspur.
The football finance expert has claimed that the Hammers pay just £2.97m, which is in the region of what Championship side Sheffield Wednesday pays.
In comparison, Spurs pay a colossal £44million per year for their billion-pound stadium which was built a few years ago.
Via his personal Twitter account, Maguire wrote, “Sheffield Wednesday paying rent of £2.81m for Hillsborough, this compares to the £2.97m that West Ham are paying for the London Stadium (which admittedly can be used for other things). Suggests that West Ham got a good deal?
“Spurs have depreciation charges of £44m on their property assets, which again indicates that West Ham have a very good arrangement.”
Good financials
The Hammers hierarchy have done a great job keeping stadium costs so low.
They can also profit by letting the stadium out for events so the London Stadium is clearly a good rental investment, given the upside.
Spurs, as expected, find a way to blow up their money on their stadium and they’re yet to seek a naming sponsor for it.
Hopefully, these savings result in money being put back into the club as the January transfer business was appalling.
Dan Kretinsky’s arrival may see the club loosen their purse strings and it could be beneficial for the long-term future of the Irons.
In other West Ham news, the club want to sign a ‘Brilliant’ Chelsea player who will tick a major box for David Moyes.
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