London Mayor Sadiq Khan continues to block West Ham United’s potential move to buy the London stadium despite the stadium costing the taxpayer 500k per match, according to The Times. 

The London Stadium has been a huge financial problem for the tax payers in London,  as revealed in the latest accounts from the London Legacy Development Corporation (LLDC). Despite their best efforts of hosting other events like concerts and festivals, the stadium’s owner, E20 Stadium LLP, reported a staggering loss of £20.9 million in the financial year ending May 31, 2024.

The accounts also highlight what a great deal West Ham got for their new home stadium. West Ham United pays a relatively modest rent of £3.6 million per season, which covers none of the stadium’s upkeep costs such as heating, cleaning, or maintenance. This situation is compounded by the fact that the Hammers retain all ticket revenues and a portion of the catering income.

The London Stadium owners hoped to receive £2m from selling the naming rights, a deal was reportedly close with Allianz, however, they opted to partner with Twickenham instead. This left a gaping hole in the projected income from the stadium.

Talks of these losses have been going on pretty much since the Hammers moved in, sparking rumours of West Ham potentially buying the stadium, However, Sadiq Khan sees the stadium as one of London’s ‘crown jewels’, they wouldn’t consider selling unless the offer is too good to refuse. However, if losses of this scale continue, they could be forced to sell the arena.