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Karren Bradey tells MPs West Ham will clear debt

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In the latest twist on the Olympic legacy, it was revealed that West Ham will have to pay off all their bank debt before their move to the Olympic Stadium. The Hammers have debts of £70million, of which half is secured on Upton Park.

As the world meets again at the Olympic Stadium for the Anniversary Games, Hammers vice-chairman Karren Brady told a House of Lords committee: “We have to pay off all our bank debt to move — we can’t take that with us.”

The Hammers are moving in 2016 but Brady denied they were getting the stadium on the cheap.

Former sports minister Richard Caborn alleged the £600m stadium was costing them just £15m — and £2m a year to rent.

But Brady said: “West Ham is not getting a free stadium. Across the world, stadiums that are not in use die. Without anchor tenants the cost would be huge to the taxpayer.”

JB

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