Westside 12:41 Fri Dec 30
Latest club accounts to 31/05/22
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https://cdn.whufc.com/sites/default/files/2022-12/WHH_statutory_accounts%20.pdf
Kretinsky has put in £125 million in new shares, Dildos loans repaid in full (£44 million) plus other shareholder loan, £9.5 million repaid.
At the accounts date we owe over £80 million in transfer fees, PLUS another £155 million of transfers in, since the accounts date (will be paid over 1 - 3 years or so). Only £5 million, still to come in for player sales.
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Replies - Newest Posts First ( Show In Chronological Order)
RBshorty
3:02 Sat Dec 31
Re: Latest club accounts to 31/05/22
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Mike Ashley was such a cunt. He sold them out too one of the wealthiest funds on the planet. I hope our owners ain’t so lacking in class.
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Johnson
2:53 Sat Dec 31
Re: Latest club accounts to 31/05/22
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It’s something when the WORST OWNERR IN THE HISTORY OF FOOTBALL MIKE ASHLEY treated his club better in the loan interest front than our two apparent fans of the club owners.
It’s even more something that people are still defending and justifying the behaviour of GSB.
Lapdogs to the end, suppose those people will shed a tear when they sell up.
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happygilmore
2:48 Sat Dec 31
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Just noticed Brady got paid a £1m bonus. Well earned
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Bernie
3:02 Sat Dec 31
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Westside 8:40 Fri Dec 30
Many owners lend their clubs money with no interest (Ashley Newcastle) and some even write the debt off for the love of the club (Bloom Brighton)
Gold and Sullivan were always here for money first and everything else second. They got us just at the right time before interest in the PL really took off, think they.initially paid £85m for their share and the club now is valued at about £600m. Plus the interest, plus the extra made on the mystery double sale of the ground
Not a bad profit for 12yrs work
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marty feldman
8:49 Fri Dec 30
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I don't know how many on here have Twitter accounts. That nutjob on there Fareham hammer has been screaming kretinskys a tight cunt for ages . looking at the amount he's pumped in he's anything but . 🤣🤣🤣
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Westside
8:40 Fri Dec 30
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Now they've been repaid the loan on top of that.
So they should have written their loans off? Would banks have lent the club money for free? Or deferred interest payments, when cash was tight?
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happygilmore
7:06 Fri Dec 30
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Lee Trundle 1:30 Fri Dec 30
Re: Latest club accounts to 31/05/22
I thought Gold and Sullivan got their "salary" for the club via the interest they claimed on the loans to the club?
They made a big song and dance about never taking a penny from the club in wages, so presumably they now doing exactly that
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They did live on the interest on the loan, all £23.3m in interest earned.
Now they've been repaid the loan on top of that.
Nice work if you can get it!
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Westside
5:14 Fri Dec 30
Re: Latest club accounts to 31/05/22
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Well, I guess it's a done deal then, unless the strike prices for the put and call are a very long way apart
Only a done deal if the option is exercised. Relegation may kybosh that, on Kretinsky's part.
My reading of the Companies House filing, is the strike price is the same, for the put and call.
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SurfaceAgentX2Zero
4:44 Fri Dec 30
Re: Latest club accounts to 31/05/22
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Westside
Well, I guess it's a done deal then, unless the strike prices for the put and call are a very long way apart
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Westside
4:05 Fri Dec 30
Re: Latest club accounts to 31/05/22
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It's just a call option, isn't it? Unless GSB have an option to sell.
It's a put and call option. GSB have an option to sell.
https://www.theguardian.com/football/2021/nov/26/daniel-kretinsky-agrees-option-for-full-takeover-of-west-ham
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SurfaceAgentX2Zero
3:54 Fri Dec 30
Re: Latest club accounts to 31/05/22
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It's just a call option, isn't it? Unless GSB have an option to sell.
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arsegrapes
3:28 Fri Dec 30
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The put and call share option price will remain the same but the clubs true value won't if we end up relegated, hence a sale is not as you say 'quite possible' in March considering we will be fighting a relegation battle.
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arsegrapes
3:16 Fri Dec 30
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Iron Duke 2:58 Fri Dec 30
Re: Latest club accounts to 31/05/22
Wasn’t the Boleyn Ground sold for a pittance, then sold again for £20m profit a year later?
Someone, or some people, did very well out of that
Nice work if you can get it.
Boleyn sold by Sullivan to property company A for £40m
Property company A then sold Boleyn to Property company B for £60m approximately 1 year later.
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Westside
3:15 Fri Dec 30
Re: Latest club accounts to 31/05/22
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Really I would have thought it less likely now relegation candidates. The clubs worth will be much reduced if relegated and Sullivan will want to have a go at getting us back up at the first attempt. Even if we somehow avoid relegation a lower league finish will affect the valuation accordingly I would expect.
As I have posted numerous times, there is a put and call option in place for Kretinsky to buy the remaining shares, to complete a takeover. The share option price is fixed, as part of this agreement. The price is unaffected by anything, relegation, Champions league qualification, selling Declan for £75 million, or sacking Moyes and giving him £25 million compo.
Of course upon relegation, Kretinsky may not exercise the option (i.e. not complete the takeover), but if he does proceed, nothing affects the agreed option price.
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arsegrapes
3:07 Fri Dec 30
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Westside 1:39 Fri Dec 30
Re: Latest club accounts to 31/05/22
If G&S have had their loans paid up is this a sign that their selling up in March?
Quite Possibly.
Really I would have thought it less likely now relegation candidates. The clubs worth will be much reduced if relegated and Sullivan will want to have a go at getting us back up at the first attempt. Even if we somehow avoid relegation a lower league finish will affect the valuation accordingly I would expect.
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Johnson
3:04 Fri Dec 30
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I wish people would leave Gold and Sullivan alone, they’re FANS LIKE US after all.
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Iron Duke
2:58 Fri Dec 30
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Wasn’t the Boleyn Ground sold for a pittance, then sold again for £20m profit a year later?
Someone, or some people, did very well out of that transaction.
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Westside
2:41 Fri Dec 30
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The main reason why they left the owner loans in the club for so long so they could earn for as long as possible.
That just isn't true. They weren't repaid, as the club couldn't afford to repay them.
Don't forget in July 2020, the owners lumped in £30 million of share capital (not loans) as we were skint and it's taken another massive share issue (£125 million from Kretinsky) for the club to have the funds to repay the loans and have a bit of working capital.
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goose
2:14 Fri Dec 30
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yup they fed us a load of bullshit about being 'debt free' for the move to the LS.
what they meant was that the debt would be to them and they would make a nice little sum every year from the interest due.
and now they've had/will have the debts paid up in full.
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David L
2:09 Fri Dec 30
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Surely not Bernie. Why, didn't Noble himself say on the Boleyn pitch in 2016 that the club wasn't run like a circus anymore?
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Bernie
2:03 Fri Dec 30
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Bar the Glazers Gold and Sullivan have taken more money out of their club than any owners in the premier league by way of high interest on loans. Was originally around 7% but then reduced to 4% after supporter backlash. The main reason why they left the owner loans in the club for so long so they could earn for as long as possible.
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