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J.Riddle 1:15 Tue May 1
West Ham owners won't sell up until 2023

Another 5 years! I hate to think what will be left of the club by then.

If they want £800m that's a profit of approx £450m for Sullivan and £250m for Gold will be more in 5 years 1bn+++?

C&P C&H
West Ham Vice-Chairman Karren Brady’s own website values West Ham at £800m which if true would mean that the owners would need to pay the state London stadium owners nearly £120m if they sold before 2023.

If the owners sold up before March 2023 a calculation within the concessionaire agreement is used to work out how much is paid back to the taxpayer. If the club is sold for £125m or less then no tax is due, 7.5% tax is due if the club is sold between £125m & £150m, 10% tax due between £150-£200m & 12.5% tax between £200-£300m with anything above £300m costing 20% in windfall tax. Like income tax, the calculation has an accumulative effect.

This means a £800m sale would mean a windfall tax of £119.3m paid to the public sector owners of the London Stadium.

Sullivan and Gold own 86.2% of the West Ham United shares meaning their share of the windfall tax would be just under £103m.

If the club is sold after March 2023 then no windfall tax is due to the London Stadium owners.

ludo21 10:31 Tue May 1
Re: West Ham owners won't sell up until 2023

Cunts should do the decent thing and by doing so give the taxpayer back some of their money.... of course they won’t because they’re cunts.

On The Ball 10:12 Tue May 1
Re: West Ham owners won't sell up until 2023

IF IF IF IF IF = guesswork

Someone offers the right money, they'll sell now

Sven Roeder 2:36 Tue May 1
Re: West Ham owners won't sell up until 2023

Have the owners ever actually spent any money to get where they are?
I always presumed they took responsibility for the debts but didn’t pay for the shares.
And anything else has just been money they have lent to a business with a £100m plus income stream and charged 7 or 8 % interest on.
Talked a good story though

That’s said they may regret holding on as selling when the club was moving in and optimism (aka bullshit hyped up by lies) was at a high point.
Not sure the current reality will net them more even when they dodge the tax in 2023.

Buying the ground may be less of an option now as West Ham fans have probably joined other fans in not wanting them to get anything more from the government

Spandex Sidney 2:27 Tue May 1
Re: West Ham owners won't sell up until 2023

Maybe we'll be Conference South by then and they get fuck all?

stepney hammer 1:01 Tue May 1
Re: West Ham owners won't sell up until 2023

I'd imagine closer to that date the owners would look to buy the stadium outright, as the club will be worth an even bigger fortune to them to sell with that particular asset included.

With all the noise coming out of the mayor's office about the tens of millions in losses the stadium is making each year Sullivan probably reckons he'll be able to get it on the cheap at some point.

It's why between now and 2023 they are happy just to retain Premier League status and be able to post profits of 40m a year. When you couple with how much they're creaming in interest payments each year, they're going to have made an absolute fucking fortune on the back of West Ham by the time they leave.

goose 12:07 Tue May 1
Re: West Ham owners won't sell up until 2023

imagine 5 more years of this shit!! they will sell or will be hounded out before then.

Hammer and Pickle 11:32 Tue May 1
Re: West Ham owners won't sell up until 2023

Has anyone mentioned there won’t be anything to sell but debt by then at this rate?

cartis 11:15 Tue May 1
Re: West Ham owners won't sell up until 2023

Hopefully Gold will be fucking dead by then,
Better still they were both gone.
Pair of cunts.

dicksie3 11:11 Tue May 1
Re: West Ham owners won't sell up until 2023

We're an excellent club to invest it. None better in the country, if you ask me.

We have a proud heritage and past - maybe it's not anywhere near Man Utd or Liverpool's level (or even Spurs) - but it's still impressive compared to half of the current top-flight clubs.

Our stadium is based on land worth an absolute fortune. Yeah, I know that we don't currently own the ground but it cannot carry on running with massive losses and it'll inevitably be sold sooner or later (and I believe that its value isn't too high (despite the stupid amount of money spent on its reconstruction)).

The biggest selling point of the club is us. The supporters. The size of our crowds - despite how shit that we often are - and our fan-base as a whole is incredible and is as loyal and passionate as they come. You can't become a massive club without having the level of support that we have.

This nightmare that we're currently living in will be over within the next couple of years or so. You'll see.

dicksie3 10:58 Tue May 1
Re: West Ham owners won't sell up until 2023

GOLD0 may be long gone by then.

ornchurch ammer 10:57 Tue May 1
Re: West Ham owners won't sell up until 2023

Why do you think that Sullivan said in interview recently that he would give it another 5/6 years to turn the club around and sell up up if he couldn't manage it?

COOL HAND LUKE 10:55 Tue May 1
Re: West Ham owners won't sell up until 2023

Attitudes are REALLY hardening towards them now, and not just within the fan base.

We'll have them out LONG before then, and they will be glad to go...

DJH 10:35 Tue May 1
Re: West Ham owners won't sell up until 2023

I think they will do well to find a buyer willing to pay over £100m when you factor in the problems with stadium and the constant vulnerability of our Premier League status, makes far more sense for an investor to buy someone like Charlton or even Millwall for a fraction, either do up their stadiums or move them to near the Dome, invest in their squads to get in the Premier League and probably still have change from GSB seem to want.

My view no one will want to buy us unless we hit rock bottom and are basically given away as I cannot see what worthwhile return we give to an investor, it makes far more sense for the current owners to retain the club and continue to profiteer from their minuscule investment in club, only a prolonged absence from the Premier League gravy train will see them leave.

The moment the club starts costing them money and they have to dip into their own wealth rather than Sky's, sponsors, fans, etc they will be gone.

greenie1 10:10 Tue May 1
Re: West Ham owners won't sell up until 2023

Kim Jong-Un - LOL.

Thames Ironworks 9:58 Tue May 1
Re: West Ham owners won't sell up until 2023

And who do you think they will sell to? A 21 yr old Jack Sullivan.

We have our own Kim Jong-Un waiting in the wings.

RBshorty 9:58 Tue May 1
Re: West Ham owners won't sell up until 2023

And by 2023 there’s no way we would still be in the Premiership under these spivs.!

RBshorty 9:49 Tue May 1
Re: West Ham owners won't sell up until 2023

Well it’s on C&H and it’s what they would like. So take it with a large pinch of salt.

BRANDED 8:54 Tue May 1
Re: West Ham owners won't sell up until 2023

Tweny twenny three
Its gonna beeee
Oooo baby
The year to be happeeeee

Keep dreaming 8:14 Tue May 1
Re: West Ham owners won't sell up until 2023

If that's their valuation, they will never get it sold.
Another couple of years, rooted in the middle of the championship they would be lucky to get 200m

Sven Roeder 8:00 Tue May 1
Re: West Ham owners won't sell up until 2023

I thought it was before that but it’s obviously a date they have ringed in the calendar.
As a result the only way they will go is to force them out.
No renewals and constant abuse.
At the ground, away from the ground. Everywhere.

Mike Oxsaw 7:36 Tue May 1
Re: West Ham owners won't sell up until 2023

I don't actually believe that West Ham are "the product" that the board are pushing any more.

I am more and more inclined to think that what they are actually selling is Premier League football at the Olympic Stadium, and West Ham are just the bait they have to hand with which to attract "the stars" of other clubs, and hence mop up the casual and semi-casual followers of the top 6/8 teams.

Survival in the top division each season is all that is required to achieve that.

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