A five-page letter from West Ham Vice-Chairman Karren Brady wrote to London Stadium owners LLDC has been leaked to the press.
The London Standard, who claims to have seen the entire letter, say Baroness Brady tells them the naming rights were only worth £2m a year and not the £4m that LLDC publicly claimed at the London Assembly committee they would sell them to West Ham.
In a five-page letter, she claimed there had been an unfair suggestion that the stadium “could not attract the best brands because West Ham United is not as attractive as other clubs”. She said that West Ham was entitled to a share of any deal but added: “The time has come where the prospect of naming rights revenue for West Ham United is dwindling to zero. We will be going to market shortly for a new primary sponsor. The window to sell the naming rights will be impacted once we engage a fresh front of shirt brand partner.
“There needs to be an acceptance that the value in stadium naming rights is not what it once was. Everyone needs to be realistic. Brand partnership with Premier League clubs is in high demand. Stadium naming sponsorship on its own is not.”
Baroness Brady said the club was willing to act as an agent to find a sponsor and called for a “fresh approach” on how the stadium is run.
In response to the London Standard article, a West Ham spokesman said: “West Ham United has consistently maintained that the income generated at the stadium could be far higher.
“We have made clear that we are open to a new approach and are willing to help grow revenues and reduce costs, while improving the London Stadium experience for West Ham United supporters and other visitors.
“As far as we are concerned, no option is off the table. We welcome dialogue with the mayor to realise the potential of this incredible, iconic asset for the capital.”