Telecommunications company Vodafone has reportedly pulled out of a proposed deal to acquire naming rights to London Stadium, the current home of English Premier League football club West Ham United and centrepiece of the capital’s staging of the 2012 summer Olympic and Paralympic Games.
The firm was last month said to be on the verge of agreeing a six-year deal worth £20m (€23.7m/$25.8m). Negotiations between Vodafone and the London Legacy Development Corporation, which owns the 60,000-seat stadium, have reportedly been ongoing for a number of months.
However, UK newspaper The Guardian said talks have broken down and will not be resumed. Sources said the breakdown was over the terms of the deal and not connected to an HM Revenue & Customs investigation that has included the seizing of material from West Ham.
Broadcaster Sky Sports said Vodafone decided the deal offered, which was purely for football games staged at the venue, wasn’t right for its brand and target audience.
West Ham moved into its new home this season but it has endured a troubled debut marred by a series of crowd disturbances earlier in the campaign. Mayor of London, Sadiq Khan, has also ordered an inquiry into the cost of converting the stadium post-London 2012, which has now risen to beyond £323m.
London Stadium will host the International Association of Athletics Federations’ (IAAF) World Championships this summer, along with the World Para Athletics Championships.