West Ham to pay $3.5m annual rent for Olympic Stadium

English football club West Ham will pay $3.5 million a year to rent the Olympic Stadium, according to media reports on Thursday.

The deal was made public as London Legacy Development Corporation, the ground's owners, fought a ruling that the contract should be published but their appeal was rejected this week, the BBC reported, reports Efe.

West Ham will pay the money every year for the duration of the 99-year lease.

The BBC revealed that if West Ham are relegated the rent of the 60,000-seater stadium will be halved.

The English club said in a statement on Thursday that "from our perspective, we welcome the publication of the concession agreement as it proves that, as we have always maintained, the club has nothing to hide."

West Ham are currently in sixth place in the English Premier League table.