Tuesday 21 April 2015 17:17, UK
Karren Brady has told Sky Sports News HQ it is “categorically wrong” that West Ham’s move to the Olympic Stadium has been subsidised by the UK taxpayer.
The West Ham Vice Chair spoke to Sky Sports News HQ after it was suggested that West Ham’s plan to move into the Olympic Stadium could still be in contravention of European state aid laws.
"The suggestion that we're subsidised is categorically wrong - we pay our way in that stadium," said Baroness Brady. "There was an anonymous complaint made to the body you're talking about (the LLDC) and they decided there wasn't a case to answer.
"So it's not really a matter for us, it's a matter for the LLDC but they did a robust bidding procedure, there were four bids and ours was the best offer in financial terms and in terms of legacy.
"We are making a huge contribution to the conversion and a huge contribution to the revenue. Without us there's no lynchpin in the stadium to create the jobs and to create the legacy. We're confident we haven't done anything wrong."
Andrew Boff, a representative from the London Assembly, has questioned the move and said there could be ‘chaos’ if the European Commission rule against it.
The football club, who were awarded a 99-year license to rent the Olympic Stadium last year, will pay £15m towards those costs and believe their presence in the arena will be of financial benefit to the taxpayer.
But the deal is not without its critics, who are concerned at the way a taxpayer-funded stadium has been handed over to a football club and the ongoing costs it will incur to local authorities.
“West Ham move in next season and I would rather see this raised now than see the chaos if they were asked to leave, if it is found their move goes against the rules for state aid,” Boff told Sky Sports News HQ.
"They’ve been given the lease on a peppercorn rent. The stadium cost us as much as £650m of taxpayers money. There's a £40m loan coming from the residents of Tower Hamlets, and there are various other things that could be seen as taxpayers money going in to supporting a private firm.
"It would only be sensible, therefore, that they should have checked with the European Commission whether this move wasn't illegal. I'm not entirely sure it isn't illegal.
"A reference needs to be made now and it needs to be rubber stamped by the EU Commission. I can't picture the chaos there would be from the EC ruling against these arrangements and West Ham having to leave the Olympic Stadium and be homeless. That's not a good future for the club."
