Westfield to sponsor West Ham Olympic stadium

Grant Prior 8 years ago
Share

Shopping centre giant Westfield could contribute around £20m to help West Ham transform the Olympic Stadium into a football ground.

The Enquirer understands that Westfield has held discussions with the club about sponsoring the stadium when West Ham move in after the 2012 Games.

Naming rights could be worth around £20m and would contribute to the £100m cost of converting the Olympic stadium into a football ground.

The rest of the cash will be raised via a £40m loan from Newham council and the sale of the club’s current Upton Park home which could bring in up to £40m.

Westfield has already joined forces with the club as professional advisor for the planning, design and construction elements of its successful Olympic bid.

The ground would be known as the Westfield Stadium.

Westfield has built a £1.5bn shopping complex in Stratford and the stadium sponsorship would be a natural extension of its presence in the East End.

But the deal is dependent on West Ham getting promotion back to the Premier League following their relegation this season.

One source said: “There have been fairly detailed talks between both sides but it all hinges on West Ham getting promoted.

“The sponsorship value drops through the floor if they are still in the Championship so Westfield will wait to see what happens next season before confirming anything.”

The extra sponsorship cash could increase the chances of retractable seating being installed at the stadium.

Latest news

Serious Fraud Office launches probe into North West sites

Series of addresses searched over suspected fraud on developments in Liverpool and Manchester
1 day ago

Summer site start for £200m Birmingham mixed use scheme

Colmore Tang to build Connaught Square scheme featuring 27-storey tower
15 hours ago

Hitachi halts construction work at Wylfa nuclear site

Japanese giant fails to strike funding deal with UK government
2 days ago

Build-to-rent home construction jumps 40%

Number of rental homes in planning jumps 10% to over 60,000
15 hours ago

BAM wins £320m Scotland and North East railways deal

AmcoGiffen, Story Contracting and QTS also secure framework places
1 day ago

Galliard and O’Shea team up for £130m Nine Elms scheme

Plan for over 260 homes on one of seven plots at former Royal Mail site
1 day ago

20 consultants win £100m Homes England framework

Aecom, Atkins, Jacobs, Mace and WSP make new multi-disciplinary framework
1 day ago

Buyer deposits repaid as Manchester’s tallest tower axed

54-floor St John's Place residential tower pulled in face of cooling demand
2 days ago

Billionaire Warren Buffett targets UK construction insurance

Berkshire Hathaway Specialty Insurance enters market as contractors struggle for cover
2 days ago

Skilled trades pay rates hit £1000-a-week in Midlands

Self employed workers enjoyed wage rises of 6.7% last year
2 days ago

Kier boss leaves to become Rydon construction head

Mark Norris leaves operations director role at Kier after 13 months
2 days ago

Go-ahead for £60m Nottingham HMRC hub

Bowmer & Kirkland believed to be in line to build Unity Square offices
2 days ago

Crooked bookkeeper stole £100k from cladding contractor

Court hears how mother and daughter used company cash to fund their lifestyles
2 days ago

£50m stands approved for Lords cricket ground

Builder ISG to start in August on new Edrich and Compton stands
2 days ago

Roof trusses fall on labourer

Darlington Council fined for poor site management
2 days ago

Union demands “period dignity” on construction sites

Multiplex first contractor to sign-up with campaign for better site toilets
3 days ago

Boost your online presence – join the Enquirer Directory

New site for suppliers and buyers showcases products, services and latest stories
9 months ago

Van Elle profit warning after “challenging” quarter

Lower margin contracts drag down performance as restructuring continues
3 days ago

Balfour boss in Brexit blast at Chancellor

Leo Quinn highlights construction's fears in conference call with ministers
3 days ago

Wates wins £90m post-Grenfell reclad job

Work to start this summer on five tower blocks at North London's Chalcots Estate
3 days ago

Construction forecasters bet on delayed soft Brexit

Crystal ball gazers believe UK will avoid workload fall with sluggish growth in 2019
3 days ago

Plan for £300m Lincolnshire power station

Czech power firm plans energy from waste plant next to South Humber Bank power station
3 days ago

Fitzgerald returns Bovis Homes to record profits

Margins restored and completions up 3% after 18-month turnaround
3 days ago

Late payment bill boosts calls for project bank accounts

Second reading due as MP fights to protect subcontractors from Carillion-style collapses
3 days ago

Plant hire giant Hawk falls into administration

Administrators pledge to keep kit working on site as they look for a buyer
4 days ago

HS2 forces firms to use least polluting trucks and plant

Rail project raises bar to exceed London emission standards
4 days ago

Watkin Jones hits record profits as pipeline grows

Firm enjoys three-year pipeline of 24 student rooms and build to rent sites
4 days ago

South Eastern Electrical went down owing £4m to suppliers

Contracts sold by administrators to associated company SEE Rail
4 days ago

Carey wins £16m Stratford Waterfront civils package

Cladding and mechanical packages will come up for bid in next three months
4 days ago

Mace confirmed for £350m Paddington Cube

Erith, Keltbray, J Coffey and Getjar chase basement contract
4 days ago

Contractor services