West Ham seals the Olympic Stadium deal
West Ham United were today confirmed as the future tenants of the Olympic stadium in a deal which takes the public cost of the venue to at least £600 million.
Months of wrangling over who will pay to make the arena suitable for football concluded with an agreement that will see the East End club kick off the 2016/17 season in Stratford.
Chancellor George Osborne has agreed an extra £25 million injection, with a £20 million loan from the Mayor, bringing the total cost of adapting the venue after the Games to £160 million — the vast majority from the public purse.
West Ham’s owners agreed to pay £15 million towards the cost in return for a 99-year lease.
The 80,000-seat venue will be reduced in capacity to 54,000, with temporary seats erected over the running track to improve spectators’ views and a new roof. Source http://www.standard.co.uk/news/london/west-ham-seals-the-olympic-stadium-deal-and-will-bid-farewell-to-upton-park-8545023.html