Daily WHUFC News - WHUFC Statement

West Ham United Statement

West Ham United have released a statement in response to today's publication
of the stadium concession agreement

"This publication does not affect West Ham United or our move to the former
Olympic Stadium in any way.

"From our perspective, we welcome the publication of the concession
agreement as it proves that, as we have always maintained, the Club has
nothing to hide.

"Importantly, people can now see that the full revenue streams from which
the stadium's owners will benefit go well beyond the widely-reported
payments we have committed to make to the transformation costs and our
annual usage fee for using the stadium 25 days a year.

"Those revenue streams include the contribution of the lion's share of the
income deriving from the stadium's naming rights, catering, stadium tours,
all non-matchday income and further substantial revenue if - as is our
primary focus -the Club continues to enjoy success on the pitch. We firmly
believe it is a great deal for both West Ham United and also the taxpayer.

"Working with our partners over the past three years, our vision,
perseverance and unwavering belief in the stadium's potential has helped
design and create the magnificent 60,000 capacity venue we see today. It is
a stadium that the nation can be proud of and we believe it will become one
of the greatest football stadiums in the world.

"And let us not forget that West Ham United were named anchor concessionaire
of the stadium after a fair, transparent and robust process open to any
organisation in the world. We were unanimously chosen as the anchor tenant,
above others, including football clubs such as Tottenham Hotspur and Leyton
Orient, as we offered the best deal and the only option for a true and
lasting legacy for Queen Elizabeth Olympic Park.

"As the Commissioner identifies, the factor which sets the agreement with
West Ham apart from that of any other stadium user is our commitment to a
99-year commercial lease, which ultimately secured the stadium's future and
the success it is now guaranteed to enjoy. It will be sold out for every
West Ham home game from next season onwards, meaning our presence will bring
hundreds of millions of additional people and billions of pounds of extra
revenue over the course of the tenancy.

"But while someone renting the Stadium for 25 days a year cannot be
responsible for 365 days' running costs, going by our performances this
season, we hope to deliver additional revenue to the stadium via extended
cup runs and big European nights. This will secure the international
exposure and additional usage and revenue that may now be more challenging
for the Stadium owners to find elsewhere as a result of this ruling.

"Because of West Ham United and our brilliant supporters, the Stadium now
has a true legacy and viable future for generations to come. We look forward
to showcasing it to the world when we play our first game there in August."

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