- Premier League
West Ham sell Upton Park to award-winning property developer
West Ham have confirmed the sale of Upton Park to London property developer Galliard Group.
Around 700 homes will be built on the current site when the Hammers move into their new home at the Olympic Stadium in 2016.
"We opted to reach an agreement with Galliard because they are a local London developer and employer with origins in east London," vice-chairman Karren Brady said.
"We know they are committed to working closely with the local community and Newham Council on proposals to transform the site into a residential and retail village, which will benefit the local community and east London's regional economy.
"The deal demonstrates that we have been true to our word by securing the regeneration of two areas of east London through our move to the Olympic Stadium in 2016.
"In addition, and most importantly for us, we can see that Galliard are passionate about working with West Ham United to engage their supporters to help deliver a fitting legacy that will honour the tradition of the famous ground. We are confident that West Ham United fans will be excited about their vision and the way they plan to respect more than 100 years of West Ham history at Upton Park."
Roberta Moore, the daughter of West Ham legend and England captain Bobby, expressed her delight about the decision to protect the club's presence.
"The move away from the Boleyn Ground is always going to be a sensitive and emotive topic for West Ham United and its fans and it is one with which I empathise and totally understand," she said.
"That's why I was pleased to learn about Galliard Homes' plans to recognise the Club's contribution to the history of Upton Park."
Stephen Conway, chairman and chief executive of Galliard Group, said: "Galliard is one of London's most successful regeneration specialists and has a proven track record in stadium land regeneration.
"Working closely with West Ham and Newham Council, Galliard now plan to undertake extensive consultation with local residents and businesses and the West Ham United Supporter Advisory Board in order to create a future for the site, which is respectful of the cultural and economic diversity of the local area."
In May 2012, West Ham accounts the value of the stadium at just over £71 million, and the club are hoping to make around £35m from the sale of the ground.