A cash windfall is on the way for West Ham as a board confidant lifts the lid on the truth about a London Stadium naming rights deal.
When West Ham moved to the former Olympic Stadium it was widely expected there would be a concerted drive to sell off the lucrative naming rights.
The LLDC had that responsibility but nearly eight years on there has been no deal and West Ham’s ground remains the London Stadium.
But not for much longer it seems.
Cash windfall on way for West Ham
Indian automobile and business conglomerate Mahindra Group was once engaged in talks for the West Ham stadium naming rights. However, the deal did not materialise (Inside Sport).
West Ham vice-chairman Karren Brady then took on a leading role in the search to find a naming rights partner for the London Stadium.
The LLDC asked for Brady’s help as they stepped up their bid to secure a naming rights deal for the 2020-21 season. But again nothing materialised.
Stadium naming rights deals can usually be worth anything between £5m-15m per season as listed by 90 Min.
Way back in January of this year it was reported the London Stadium owners would only be willing to consider handing over negotiations around naming rights for the stadium if the Hammers paid them £4m per year.
Things have gone quiet on that front ever since.
Board confidant on London Stadium naming rights deal
Until yesterday, when it emerged German finance giants Allianz and American ticket company Stage Front were involved in a ‘multi-million pound’ battle for the naming rights to West Ham’s home ground.
A report from The Evening Standard claims LLDC have been leading negotiations – despite asking Brady for assistance previously. That has led to questions over whether the Hammers will get any of the money or a say in the matter.
Well there’s good news because the answer is ‘yes’ on both fronts.
A cash windfall is on the way for West Ham as a board confidant lifts the lid on the truth about a London Stadium naming rights deal.
It’s all in a name
Sean Whetstone, who lists Brady and majority owner David Sullivan as contacts at West Ham, has explained the situation and says the Hammers will get a slice of the multi-million pound deal as well as power of veto.
“A host of companies are bidding for the London Stadium naming rights, as first reported by SportBusiness,” Whetstone said.
“The frontrunners have now emerged as Allianz, the German financial services provider, and the American-based ticketing firm Stage Front. Allianz already has a host of naming rights at the homes of Bayern Munich, Juventus and Nice and has been looking for a stadium in the Premier League.
“Stage Front, meanwhile, has the naming rights for Spanish side Espanyol’s stadium.
“West Ham have right of veto if they think the sponsor could harm their brand and will share any sponsorship offer (worth over) £4m per year.”
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