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London Stadium owners E20 have recorded an annual loss of a whopping £22.7m as the company in charge of the home of West Ham continue to be mired in financial woe.

E20 LLP published their annual accounts on Saturday for the financial year up to March 2018 and posted their massive loss. They also revealed that it cost £3m to take out the what are now called "relocatable" seats and not retractable, every summer so the stadium can be transformed in to athletics mode and then back to football mode.

The stadium did generate revenue of £9.5m over the course of the last financial year, of which £5.4m is derived from Stadium Operator LS185 and other tenants - West Ham United.

It's the latest woe to befall the owners of the stadium, especially after the results of the recent expert determination against the Hammers which they lost and sees them have to install a new pitch surround at the arena.

West Ham have said they will pay for the new surround to be installed at a cost of nearly £400,000 in the colours of claret and blue, while E20 previously rejected any help as they wanted the colour to be simply navy blue to suit their corporate branding.

(Image: Henry Browne/Getty Images)

Also this week, West Ham released a statement condemning E20 for not re-installing the mid-tier honours list that goes around the walls of the London Stadium, with the owners still having their own branding up there instead.

E20 underwent a restructure at the back end of last year, which also saw Newham Council pull out of their share of the stadium, and was replaced by a new company called Stratford East London Holdings Limited.

E20 also said in their accounts that implementation of their new restructure will require "significant changes to current contractual arrangements" but it's not clear whether that means they will want West Ham to pay more than their current £2.5m a year rent in Stratford.

Hammers manager Manuel Pellegrini deflected any off-field issues at his press conference on Thursday, saying he did not want to make a link between those and the Hammers' poor start to the campaign.

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