West Ham’s London Stadium agreement has returned to scrutiny after the venue’s operator forecast a £19million loss for 2025/26. The West Ham stadium deal runs for 99 years, with the Greater London Authority unable to activate a break clause.
Lyn Garner, chair of London Stadium LLP, revealed the latest figure while appearing before the London Assembly’s Economy, Culture and Skills Committee.
City AM reports that the accounts are expected to show an operating loss of about £19million. West Ham paid around £4.6million in annual rent while competing in the Premier League.
West Ham stadium deal faces renewed scrutiny
The club’s relegation to the Championship will reduce its rent by approximately £2.5million this season. City Hall previously estimated that the clause would leave taxpayers covering a further £2million to £2.5million each year.
Garner said the stadium had endured a difficult 2025/26 financial year after hosting only two summer concerts. Six major events have been staged this summer, including concerts involving Take That and Metallica, but the reduction in West Ham’s rent will offset some of that additional income.
London Stadium LLP remains responsible for the venue’s overheads, maintenance and repair costs. Converting the stadium between football, athletics and concert configurations also places pressure on its finances.
ReadWestHam previously reported that West Ham’s relegation would trigger a significant reduction in their annual stadium rent.
The agreement was signed in 2013 before West Ham moved from Upton Park three years later. Garner told Assembly members that relations between the stadium operator and the club had historically been tense because of disputes over the contract.
The West Ham stadium deal remains financially beneficial to the club, which does not carry responsibility for most stadium operating costs. However, the forecast loss ensures the arrangement will continue to attract political scrutiny.
