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Gambling firms ‘ruled out’ for London Stadium naming rights

(Photo by Catherine Ivill/Getty Images)

London Stadium’s naming rights will not be acquired by a gambling, tobacco or alcohol company, as stadium stakeholders continue to search for a deal to help reduce its significant financial losses.

Citing sources close to venue landlord London Legacy Development Corporation (LLDC), the Daily Mail reports that the stadium will not carry the name of a brand from any of the three categories because it has been deemed ‘inappropriate’ for the stadium’s image and legacy.

The need to find a naming-rights partner for the stadium, the home of English Premier League side West Ham United, has been heightened by losses posted by the stadium in recent years. The most recent financial report detailed a £25.5m (€29m/$32m) loss in the year to March 31, 2019.

It is also reported that the venue is estimated to have lost approximately £3m per year because of the lack of a naming-rights agreement.

A six-year, £20m deal had been set to be agreed with Vodafone in 2017 before the telecommunications company exited talks in May 2017.

Financial projections suggest the stadium will have lost £150m in operational costs by 2023.