Newspaper article Evening Chronicle (Newcastle, England)

Hammers Close in on Their Big Move

Newspaper article Evening Chronicle (Newcastle, England)

Hammers Close in on Their Big Move

Article excerpt

WEST HAM have finally agreed a deal to move into London's Olympic Stadium, sources close to the process have confirmed.

The deal for a 99-year concession for the Hammers will be announced at a news conference today, when the details of the revamped stadium featuring retractable seating will be unveiled.

The agreement should also open the way for the stadium to be used as a venue for the 2015 Rugby World Cup.

The negotiations between the London Legacy Development Corporation and West Ham have been long and tortuous since the club was named preferred bidders in December, but they have now finally been signed off by the corporation's legal advisers.

Under the agreement, West Ham will be given the right to use the stadium for all their matches under a 99-year concession deal.

That will give the club long-term security but they will have no property interest in the stadium.

The deal will protect public interest should West Ham's owners sell the club for a large profit on the back of the move to the stadium - the LLDC would get a significant cut of any profit. …

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