Side of Ham
12:20 Thu Feb 8
Re: Gold on twitter
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Thing is if they unwilling to put in to even keep up and their 'customer' base is going mad about their product and are willing to limit their commitment to this inferior product their dreams will dwindle and their loans with interest will start to become a burden on the with very little reward.
Be interesting what percentage of fan base they would have to keep as 'hardcore' before it starts getting worthless and Sully loses his 'billionaire' status.
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Sir Alf
12:18 Thu Feb 8
Re: Gold on twitter
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Would be great to know how their accountants are advising them and the plan if there is one. The suggestion it is "pump and dump" sounds plausible but they are saying they want their kids to take over? A proper merger, acquisitions and divestiture ( appropriate acronym eh?) might be able to confirm.
All I know is that the upheavals of a move of stadium and the promises implied and expectations set are not being delivered on and have created a backlash. What the hell did they expect?
You cannot over hype and spread propaganda without consequences.
Most of us are not actually wanting what they promised/implied we would get. We simply want signs of progression and above all else not to be sweating on avoiding relegation every fvcking season. I struggle getting through games when we are winning or losing such is the anxiety and fear of the trap door.
And in addition it would be nice to see a team that could fvcking pass the ball and keep possession and a couple of flair players that excite you when they get the ball. All we got are players who, when they get the ball,scare the sh*t out of us !
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penners28
12:10 Thu Feb 8
Re: Gold on twitter
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Jaan Kenbrovin 11:15 Thu Feb 8
dont take a wage, but 6m each in interest...
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threesixty
12:03 Thu Feb 8
Re: Gold on twitter
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Willtell
I'm sure they will produce credible books.
But I dont think that tells the whole story.
It sounds weird. You have a long term debt that you have financed to a company that you actually own. The club are still in debt because you dont actually want to pay that debt off I presume.
Maybe because that debt protects you from taxes you would pay from your other businesses perhaps? who knows??
But then that debt stops you from actually investing in the club through fifa fair play (or some other covenant you have with banks etc..). So all the while the club income must be improving massively you make it look like the club cant pay off the debt?
So you dont invest properly to keep this facade going and we risk relegation every fucking year. And I'm sure it explains why we take loans so much, being that they dont become actual assets and go on the books, there must be tax implications that are beneficial for this whole setup the chairman have.
I dunno, I'm sure I'm technically wrong (or hope I am?) about all this. But the opportunity cost of not investing is too high for any reasonable business man to not invest. The drop from PL to CL is financially huge for a club of west ham's size and infrastructure. Not to mention the staff at the ground who could lose their jobs etc..
To not put the millions you get from PL tv money into actual investment into the club because its helping you dodge taxes (or your just pocketing it) is really counterproductive and shady.
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Bernie
11:42 Thu Feb 8
Re: Gold on twitter
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Jaan Kenbrovin 11:15 Thu Feb 8
"The also don't take a wage as Chairman'
7% interest on the tens of millions they have lent the club will cover any wages any football chairman could hope to earn
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Willtell
11:18 Thu Feb 8
Re: Gold on twitter
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I think their intentions were to slowly build the business without putting in the investment that might affect their own personal income from several other businesses. In other words they have not put "all their eggs into the WH basket".
It should be clear that WH is their hobby and no doubt they are now taking an income from WH as well. I really think they want their family to take over from them and won't sell until they can get more than a £billion+.
That won't happen for a very long time. Making them deeply unpopular might change that attitude...
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Jaan Kenbrovin
11:15 Thu Feb 8
Re: Gold on twitter
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GreenStreetPlayer 11:06 Thu Feb 8
I don't think they want to sell the club at all, which is what they have said all along. They even agreed to give part of any profit to the LLDC if they sold in the first ten years.
They also don't take a wage as Chairmen.
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Kite
11:07 Thu Feb 8
Re: Gold on twitter
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threesixty 10:49 Thu Feb 8
Re: Gold on twitter
You’re either pocketing the change, or just really crap at business.
That's a good point, ive been thinking the same myself, the reason we have no money is they are asset stripping or shit at business, either way they have to go.
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GreenStreetPlayer
11:06 Thu Feb 8
Re: Gold on twitter
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The boards plan was to move and sell the club, but they have failed. Brady failed on her "business" visit to China.
They are stuck with the club, we are stuck with them.
In the meantime, they don't feel so bad as they can take an income from the club and fans as they sit things out.
Our only hope, and theirs is to buy the stadium for a pound then sell to whoever for £500 million be it an Arab, Russia, Chinese, pig or chicken farmer.
They won't care who it is and their aspirations and future security for the club.
I just hope we get someone for the right reasons and there for the best interests of the club, not themselves as currently stands.
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Willtell
10:59 Thu Feb 8
Re: Gold on twitter
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Well 360. Apparently we are about to report a good profitable year to 31 May 2017. This has to be made public by end of this month I believe.
I also suspect that the year to 31 May 2018 will be even better bearing in mind our lack of expenditure this season.
Profits reduce the borrowings. GSB will be patting themselves on the back as astute businessmen having acquired and turned an almost bankrupt company into a profitable and very valuable business for a minimum loan investment of £50m.
As long as we don't get relegated...
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threesixty
10:49 Thu Feb 8
Re: Gold on twitter
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“In 8 seasons we are still £100m in debt...”
This is what I don’t get.
You get a stadium for nothing. Sell the old stadium. Have a record windfall from the premier league money that hardly any other European league club can get. Increased the capacity of the stadium by 20 odd thousand every week etc..
And still in debt???
It really doesn’t make any sense. It’s not like your spending ridiculous amounts on players. 20 odd million here and there, no more than anyone else really.
You’re either pocketing the change, or just really crap at business.
Either way, they kind of need to come clean..
Because if that fleecing is done at the expense of investment the club really needs (I.e. no real spend this transfer window or not buying Carvalho) then it’s really fucking up the club.
3 points of bottom for a club in London with a free 55,000 stadium is absolutely diabolical.
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NDT
10:39 Thu Feb 8
Re: Gold on twitter
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Augsburg terminate contract with 'dishonest' Daniel Opare
Should get on well with the board.
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Far East Hammer
10:39 Thu Feb 8
Re: Gold on twitter
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This kind of shit from the unholy trinity of Brady + 2 Davids really goes quite some way to explaining why I'm struggling to feel much passion for the club these days.
Used to be the case that as a Hammer hope for results on the pitch would inevitably sooner or later lead to disappointment and despair. However, these days I'm despairing of the owners.
And I thought Brown was bad...
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Jaan Kenbrovin
10:33 Thu Feb 8
Re: Gold on twitter
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Can't be signing Opare, he's African?
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bowboy
10:28 Thu Feb 8
Re: Gold on twitter
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Apparently they have their first summer signing lined up. Daniel Opare another freebie, they are just a couple of old Fagins picking our pockets.
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paulon
8:56 Thu Feb 8
Re: Gold on twitter
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I can understand a Cardiff fan not caring if we get fucked over or not
Gold has no excuse
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HairyHammer
4:28 Thu Feb 8
Re: Gold on twitter
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Being billionaires they should know these famous words.
Talk is cheap.
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HairyHammer
4:16 Thu Feb 8
Re: Gold on twitter
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It matters not what they say any more the fans are on to them and have been so for some time .
Without actions words mean very little, they promised and they have not delivered.
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swindon hammer
12:18 Thu Feb 8
Re: Gold on twitter
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Aren't we still nearly 100 million in debt?
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neilalex
12:11 Thu Feb 8
Re: Gold on twitter
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I do believe he actually is a fan, as opposed to Sullivan who supports Cardiff and Brady who has no real interest in football. To my mind this makes it even worse that he colludes with these people the vile old prick.
Lets say he makes £150m extra as a result of all this. Just what the fuck is it you can do in your 80's with £500m which you can't do with the £350m you've already got?
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Pee Wee
12:06 Thu Feb 8
Re: Gold on twitter
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They're just trying their best. It's great to have real fans running the club. Give them some slack
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