West Ham will still move to Olympic

by AP on May 18, 2011

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West Ham co-owner David Gold says the club will still move into London's Olympic Stadium despite relegation from the Premier League.

Gold and business partner David Sullivan have said relegation from the lucrative top division will cost about 40 million pounds ($64.8 million) in lost revenue, but Gold said Monday that their stadium plans are unchanged.

Gold says that "there is absolutely no financial issue at all" because the pair had budgeted for relegation.

West Ham plans to downsize the stadium after the Olympics from 80,000 to 60,000 seats and use it as a multipurpose venue.