Seating Disaster<\/strong><\/h2>\nBut LLDC\u2019s efforts to find a mainstream sponsor have failed so far. Meanwhile, losses are expected to rise to \u00a329.1 million ($37 million) next year for the venture, with the taxpayer picking up the shortfall.<\/p>\n
Projections suggest the stadium is on course for a lifetime loss of \u00a3150 million ($192 million) by 2023 unless the naming rights are sold.<\/p>\n
In 2016, the venue was set to become the Mahindra Stadium, after the Indian multinational car manufacturing company. But the deal fell through at the last minute. Then, in 2017, telecoms company Vodafone pulled out of a six-year deal worth $20 million.<\/p>\n
The stadium\u2019s operating losses have been magnified by the cost of converting from a soccer venue to a multi-use arena and back again.<\/p>\n
It cost \u00a31.9 million ($2.4 million) to make the stadium fit for baseball when it staged the recent baseball game between the New York Yankees and Boston Red Sox \u2013 the first MLB game to be played in Europe.<\/p>\n
Attempts to install retractable seating ended in disaster when the contractor went bust in 2015. The stadium\u2019s seating is only partially modifiable, which has ballooned conversion costs from an estimated \u00a3300,000 ($384,000) per year to \u00a38 million ($10 million).<\/p>\n","protected":false},"excerpt":{"rendered":"
The London Stadium — built on spec for the London 2012 Olympics, and now the home of EPL soccer team West Ham — is bleeding money, some \u00a325 million ($32 million) per year. The stadium is in desperate need of a naming rights deal and has long been in search of a corporate sponsor prepared […]<\/p>\n","protected":false},"author":36,"featured_media":117394,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16,1074],"tags":[],"acf":[],"yoast_head":"\n
London Stadium Desperate for Sponsorship, But Not for Gambling Money<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n