Thursday 5 November 2015 17:36, UK
West Ham's vice-chairman Karren Brady says the Olympic Stadium will be "one of the greatest arenas in world football" but admits it is an "absolute necessity" the club retain their Premier League status.
The Hammers will relocate to the Olympic Stadium for the 2016/17 season and Brady revealed in West Ham's annual report the new venue will open up "enormous" commercial opportunities.
"Retention of our [Premier League] status in the 2015/16 season is an absolute necessity for the future well-being of the club, as we will be moving to our new home in the 2016/17 season and a new improved broadcast deal will be in place," said Brady.
"The Olympic Stadium offers enormous commercial and brand opportunities and we have a strategy in place to deliver sell-out crowds and enter the stadium with a team that are befitting of such an amazing iconic venue.
"As plans take shape it becomes even more apparent that our new home will be one of the greatest arenas in world football and a platform to transform the future of our great club."
Brady said the new roof, retractable seating and turnstiles had all been completed and the dressing rooms were nearly finished.
Brady also revealed there had been a "phenomenal demand" for corporate hospitality, with only 200 of the 3,700 luxury seats in the 54,000-capacity stadium remaining unsold up until last month.
The move should also help the club close the financial gap on their rivals.
West Ham's matchday revenue stood at only £20m last season. Manchester United and Arsenal both generate more than £100m per game, while Tottenham, who are also moving stadium, take around £40m on a matchday.
West Ham's annual report also revealed a profit after tax of just under £3m for the 2014/15 season.
The annual accounts show West Ham's turnover was £120.7m for last season, up from £114.8m, while the wage bill rose £8.8m to £72.7m, 60 per cent of turnover.
The club's overall gross debt is £89.1m with £49.2m owed to shareholders David Sullivan and David Gold.
