A London Assembly member has directly called for the London Stadium to be sold to West Ham United as debate over the venue’s long-term future intensifies.
Bassam Mahfouz has urged Mayor of London Sadiq Khan to consider a sale as a way of ending the substantial annual losses connected to the stadium.
It follows Khan’s confirmation that City Hall would consider any credible proposal that delivers value for taxpayers and protects the wider public interest.
Mahfouz Calls for West Ham Stadium Sale
Speaking to the Local Democracy Reporting Service, Mahfouz argued that the existing agreement needs a fundamental rethink.
He said: “If you can’t renegotiate the deal you need something new on the table and that has to be a sale.”
London Stadium LLP reportedly loses around £19million per year, while West Ham currently use the venue under a 99-year tenancy agreement.
Mahfouz also said any future arrangement should preserve the stadium’s ability to stage athletics and other major events.
A spokesperson for Khan again declined to rule out a sale, saying the Mayor would consider any credible proposal that provides taxpayer value and protects the venue’s wider economic, social and sporting benefits.
West Ham declined to comment on a potential sale.
Our previous London Stadium update detailed Khan’s position and the wider financial context surrounding the venue.
The club also retains an influence over commercial issues such as naming rights, which are covered in our London Stadium naming-rights report.
For now, there is still no confirmation that West Ham have submitted a formal offer, but political pressure for City Hall to consider a sale is clearly increasing.
