West Ham United still consider purchase of London Stadium despite six-figure tax loss reveal
West Ham United are still open to the idea of buying the London Stadium despite a six-figure tax loss return in their most recent accounts, according to journalist Simon Stone.
The Hammers, who moved on from Upton Park to the London Stadium in 2016, presently pay close to £4million a year to play football there and share the stadium’s playing rights with UK Athletics.
However, earlier this week, fresh doubts emerged over the UK Athletics’ presence at the iconic home of the 2012 Olympics after the governing body posted a £1.8million loss for the year ending March 31.
According to BBC Sport journalist Stone, West Ham have always firmly believed in the stadium and now want to up their financial interest as a result of these growing doubts from UK Athletics.
Stone tweeted his report which stated: “West Ham remain open to the idea of buying the London Stadium should UK Athletics and landlords LLDC reach an agreement over a get-out deal.
“In their latest accounts, to March 2021, the stadium posted an £820,065 pre-tax loss. Accounts for 2022 are due to be made public next month.”
Financial costs mounting
The financial records released here really don’t read too well for West Ham United. The six-figure tax loss on the stadium surely comes as a surprise to fans, and considering this, a move to purchase the stadium is a bold one.
If UK Athletics have indeed fallen out of love with the stadium and can’t afford to stay there any longer, the door for West Ham may have been left ever-so-slightly ajar.
Although the London Stadium is no Upton Park, it is a huge ground for West Ham to host weekly Premier League matches in.
Being able to hold 62,500 people and selling out large portions of this on a weekly basis will surely help the board turn around their significant tax losses if they purchased the London Stadium.
On the pitch, the stadium is a perfect groundwork for the club to spring a sustained effort on the Premier League table in, and it is a natural home for big European matches if they can continue to fight at the top of the league.