Quote: Obadiah "Hull City AFC and Hull FC have user rights but have no legal interest as tenants, according to the City Council.
Under the current agreement Hull City AFC paid rent of nearly £5 million for the KC in the year ending 30 June 2014. West Ham will pay £1m a year for the Olympic Stadium. If the lease goes back to the Council do you think they'll get anywhere near £5 million a year rent?
Hull FC paid around half a million in rent. According to the accounts that doesn't cover the costs. I'm sure the Council have thought all this through.'"
Point of order, West Ham will be paying £2M/annum AND they stumped £15M up front to offset part of the debt accrued in developing the stadium for soccer use (£400Million to convert it apparently!!!
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Based on 19 home league games per season that's £105k/game, however they will be getting the benefit of all the corporate.
Given the location, they are getting one hell of a deal, I would be annoyed as hell if I were a Tower Hamlets resident as they loaned £40M towards this and it would seem WHU aren't paying 'market rates' for a 'community/legacy' stadium