West Ham: Staveley receives Sadiq Khan encouragement to buy London Stadium
The door is open for West Ham United to buy their London Stadium home, with the Mayor welcoming any future discussions after Amanda Staveley said property would be part of her next football investment, City PM can reveal.
The former Newcastle United co-owner has agreed a deal – subject to majority owner Daniel Kretinsky not activating pre-emptive rights – with Vanessa Gold, daughter of former West Ham owner David Gold, to purchase a 25 per cent stake in the recently relegated club.
A deal could value the Irons at £600m, with reports coming after Staveley – who helped broker Sheikh Mansour bin Zayed Al Nahyan’s purchase of Manchester City in 2008 – said she was planning a “big property play” upon her return to football.
A subsidiary of the Greater London Authority owns the London Stadium – which costs the taxpayer around £19m per year – and rents it to West Ham United under favourable terms negotiated by former co-chair Baroness Karren Brady.
A spokesperson for London Mayor Sadiq Khan told City PM he “would welcome any discussions regarding the London Stadium that would deliver greater value for money for Londoners”.
Could Staveley lead West Ham to London Stadium purchase?
Staveley would first need to acquire her shares and then reach out to the Mayor – and Queen Elizabeth Olympic Park land owners, the London Legacy Development Corporation – while there is nothing stopping the existing owners, Royal Mail proprietor Kretinsky and publisher David Sullivan, from taking those steps now.
“LLDC regularly engages with organisations interested in investing in and supporting the long-term success of Queen Elizabeth Olympic Park and its venues,” a spokesperson said.
“However, no conversations have taken place to date regarding this matter. Should any proposals be brought forward in the future, they would need to align with LLDC’s mission to deliver inclusive growth, creating opportunities for local communities, strengthening east London’s contribution to the capital’s economy and ensuring the continued success of the Park as a destination for sport, culture, entertainment and community participation.”
West Ham dropped into the second-tier Championship at the end of last season but have sold over 50,000 season tickets as fans show their support for the east London club. But the club’s relegation from the Premier League has cost the taxpayer, with rent being cut due to their status as an EFL club in a deal the Mayor once called “the worst imaginable”.
Khan previously said the stadium was not for sale in 2024.
In a statement, Vanessa Gold said: “I have now reached an agreement to sell my family’s shareholding to a consortium of PCP Capital Partners, led by Amanda Staveley and Mehrdad Ghodoussi, in partnership with Ashland Forest Capital Partners.
“While the process has not yet concluded, I wanted to be open with our fans about where things stand and my intentions.”