West Ham won’t buy London Stadium unless it’s just for football, says Karren Brady

West Ham will not pursue the purchase of the London Stadium until it becomes a dedicated football arena and while the prohibitive costs remain of moving seats for athletics events.

Karren Brady, the club’s vice-chairman, said on Wednesday at a meeting of the London Assembly, that buying the stadium would be “something we would look at” but that “the problem for this stadium is the cost of the seat moves for athletics. That is what drains this proposition of all its revenue.”

The cost of moving seats for the World Athletics Championships in 2017 was £11million. Retractable seating, originally planned and favoured by West Ham, would have cost in the region of £300,000.

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“I think the London Stadium craves direction,” Brady said. “It really should have the commercial expertise it deserves. I don’t think it is anywhere near realising its full potential.

“I think if it was to become a dedicated football stadium, with pop concerts, maybe the occasional rugby match, then that could be a seriously very good proposition. That might be something we are interested in.

The stadium should be “a jewel in the crown”, said Brady. “It needs financial control, investment. Our help has not been sought.”

The club have agreed a deal with the stadium owners to install a new pitch surround and to name the East Stand after a former player, likely to be Billy Bonds. The pitch surround will be largely claret in colour with a thin strip of dark blue and could be installed before Christmas.

Under the terms of the deal, the club’s rent has increased to an index-linked £3million a year. “I refuse to accept any criticism that our rent is too low, because that is simply not the case. Costs are too high,” said Brady.