That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the latest developments at the London Stadium.
The Times reported on 29 October that Daniel Kretinsky is set to buy a 27 per cent stake in West Ham with a view to a full takeover down the line.
The Czech billionaire’s mooted share purchase is worth approximately £150million and values the East London club at north of £600m.
That is twice what the consortium fronted by the Saudi Public Investment Fund paid to acquire Newcastle earlier this month.
Maguire explains that West Ham’s location and up-to-date facilities mean they are streets ahead of their contemporaries on Tyneside.
“You can’t underestimate the London factor which generates interest from sponsors,” he told Football Insider correspondent Adam Williams.
“After all, matchday income between the clubs is broadly similar, so that isn’t a huge driver.
“Newcastle made £25m from matchday revenue over the last financial year, while West Ham made £27m.
“West Ham do have a bit more commercial revenue, and that is likely to be independently-based rather than through parties connected to the owners.
“That is driven by being in London. They also have the benefit of paying next to no rent.
“Newcastle requires a big infrastructure spend because of the approach taken by Mike Ashley.
“You put those factors together and that’s why, for the moment at least, West Ham are in a far better state than Newcastle.“