London Stadium explores property development as Khan opens door to sale

London Stadium has appointed Populous to assess leisure and property development opportunities around the publicly owned venue, while Mayor Sadiq Khan has indicated that a credible proposal from West Ham United to buy the stadium would be considered.The design consultancy will examine how the stadium campus could become a mixed-use destination attracting visitors beyond matchdays and concerts, with the work intended to create sustainable long-term value from the site.Declan Sharkey, global director and senior principal at Populous, said: “London Stadium has a rare combination of a globally recognised venue, excellent transport connections and a distinctive setting within Queen Elizabeth Olympic Park. "Our work will explore how new leisure, hospitality and public realm uses could make better use of the surrounding land, strengthen connections with the Park and create a destination that works on event days and throughout the year.“As Lead Consultant, we will bring together the design, operational, commercial and planning requirements to shape a clear and deliverable vision for London Stadium and the communities it serves.”Potential uses include leisure and entertainment facilities, hotels, conferencing, hospitality, food and beverage outlets and a secondary venue, although the commission is exploratory rather than approval for a specific development.Populous will lead a multidisciplinary team and work with the London Borough of Newham on a spatial strategy, alongside separately appointed commercial advisers assessing the business case and potential delivery arrangements.The work builds on feasibility studies completed in 2024 and will prepare material for discussions with prospective development partners, investors and operators.The appointment comes as City Hall faces renewed pressure to address the stadium’s financial position, with its annual cost to taxpayers reported at approximately £19m.West Ham pay a little over £2m annually under a 99-year tenancy agreement negotiated during Boris Johnson’s mayoralty, leaving the public sector responsible for a substantial share of the venue’s operating costs.Responding to Labour London Assembly member Bassam Mahfouz, Khan wrote: “I have always been clear that we would consider any credible proposal for the stadium, provided it offers value for taxpayers, protects the public interest and preserves the wider economic, social and sporting benefits the venue delivers for London.”Khan also acknowledged improved relations between the stadium operation and West Ham’s leadership, while declining to discuss potential commercial negotiations publicly.The ownership context is changing, with Daniel Kretinsky having agreed to increase his West Ham stake to 46% by acquiring most of the Gold family’s holding, which would make him the largest shareholder.The property study and Khan’s willingness to consider proposals are separate developments, with no confirmed stadium purchase offer or agreed sale announced.Mahfouz commented: “Given the amount Londoners are currently paying, it would be irresponsible for us not to examine whether there is a better option out there.“The burden should not fall indefinitely on taxpayers. If there is any credible proposal that protects the stadium’s future and gives Londoners better value for money, we should be prepared to explore it.”The development assessment will also cover landscaping, canal-side areas and connections with surrounding neighbourhoods, while protecting the stadium’s ability to operate safely across its football, athletics, music and other event configurations.