Sadiq Khan opens door for West Ham to purchase London Stadium

West Ham United have received a huge boost in their hopes of buying the London Stadium after mayor Sadiq Khan said the city would consider any credible proposal for the venue.

The Hammers moved to the London Stadium in 2016/17 after more than a century at Upton Park, but supporters are unhappy with the venue.

The London Stadium was initially built for the 2012 Olympic Games and its design is still better suited to athletics than football.

Owned by the Greater London Authority, the stadium is reportedly costing taxpayers around £19 million a year in maintenance fees.

West Ham pay rent as tenants, although their annual bill has nosedived following their relegation from the Premier League to the Championship. 

They initially agreed to pay £4.6m per year but now have an opportunity to own the stadium.

Khan was responding to a letter from London Assembly member Bassam Mahfouz, who raised the possibility of West Ham buying the venue. 

The mayor said he would consider any credible offer as long as it provided value for taxpayers, protected the public interest and maintained the stadium’s wider economic, social and sporting benefits.

“As you rightly note, we have had to make the best of a challenging contractual position inherited from the previous mayor (Boris Johnson),” he said (via talkSPORT).

“Despite these constraints, I am proud of the progress we have made in ensuring that the stadium works as hard as possible for Londoners.

“I have always been clear that we would consider any credible proposal for the stadium, provided it offers value for taxpayers, protects the public interest and preserves the wider economic, social and sporting benefits the venue delivers for London.”

West Ham have been trying to purchase the stadium for a while. Former Newcastle United chief Amanda Staveley wanted to buy the venue when she tried to invest in the club.

However, that didn’t work out as Daniel Kretinsky became West Ham’s majority shareholder.

The London Stadium can hold around 68,000 spectators for football and up to 80,000 for concerts, giving West Ham a significant opportunity to increase matchday and commercial revenue.