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chav_corner 10:55 Tue Aug 20
Shareholder Loans
With the transfer window closed there has been much analysis of Premier League spending.West Ham were 9th in net spend.

We bought 2 players who we hope will star and pay a huge part in our season.We bought a couple of young players we have high hopes for and we bought 2 goalkeepers who most are underwhelmed with.At Hammers United we were a little disappointed that funds were not made available to strengthen the full back and defensive midfield areas.

Other supporters are happier with West Ham’s transfer window.-We all hope that results prove the Board made the correct decisions and that West Ham United have a successful season.
What we could not understand is how Brighton(Amex Stadium capacity 30666)could outspend us and how Bournemouth(Vitality Stadium capacity 11329)were not far behind us.-And how Aston Villa could have a net spend of 137 million outspending everyone!

West Ham fans were of course promised ‘next level’ and ‘a world class team for a world class stadium’ .Now Hammers United are not the Board’s biggest fans.Perhaps they lied to us,perhaps they have just been overtaken by events with much richer owners than them taking over Premier League clubs.-But they cannot be blamed that some other owners leave them trailing in the riches stakes.-Although surely they now realise that they are unable to deliver on their promises and should sell the club.
The answer to how Bournemouth and Brighton were able to spend so much on transfers is shareholder’s loans and below is a table which is not good reading for West Ham United’s fans or Board,especially bearing in mind that Mr Gold is a self confessed West Ham Fan and that Mr Sullivan purports to be(although he is in fact a Cardiff fan.) .

Owner Loans Other Loans Shares Net Interest Dividends
1 Chelsea 1,155.4 60.0 61.3 (0.9) 0.0
2 Brighton 222.7 0.1 95.2 0.8 0.0
3 Everton 149.3 75.2 25.3 2.8 0.0
4 Newcastle 144.0 0.8 75.6 (1.8) 0.0
5 Liverpool 99.9 55.1 102.0 7.6 0.0
6 Watford 83.4 2.9 1.1 5.2 0.0
7 Wolves 75.0 0.0 78.7 0.5 0.0
8 Bournemouth 69.3 0.0 21.1 1.8 0.0
9 West Ham 54.5 10.6 35.0 3.7 0.0
10 Crystal Palace 35.2 30.6 92.7 1.7 0.0
11 Leicester 24.6 0.2 121.2 2.7 0.0
12 Manchester City 12.7 66.0 1,361.4 1.9 0.0
13 Sheffield United 2.1 0.0 28.8 0.1 0.0
14 Norwich 2.0 4.8 11.3 0.5 0.0
15 Aston Villa 1.0 5.0 126.5 0.9 0.0
16 Southampton 0.0 37.3 31.0 0.5 0.0
17 Manchester United 0.0 495.8 317.9 18.0 22.0
18 Arsenal 0.0 216.6 57.1 8.8 0.0
19 Spurs 0.0 460.7 45.4 18.2 0.0
20 Burnley 0.0 0.1 4.8 (0.0) 0.0
Total 2,131.1 1,521.8 2,693.5 72.9 22.0

The above figures were as of the 2018 Accounts,most clubs’ accounting periods ending in the summer. Mr Gold and Mr Sullivan have outstanding loans of £54.5 million owed to them by West Ham.Until April 2017 they charged west Ham 7% per annum interest but after bad press this was reduced to the current level of 4%.-In the accounting year ending 2018 interest amounted to £3.7 million.The frustrating thing to us is that West Ham could have loaned 2,maybe even 3 players for that money.That may well have led to a higher league position with the ensuing prize money more than compensating.Tripp Smith has lent West Ham £10 million.This is an interest free loan.
Brighton’s owners have lent them £222 million interest free.Bournemouth’s owners have lent them £69 million interest free.Aston Villa’s new owners have ploughed considerable finances into the club and since the above figures were produced lent the club £33 million interest free.-So therein lies the reason why these clubs were able to spend so much.

We already know that Everton and Wolves have wealthy owners but for the record Everton’s owners have lent them £149 million interest free and Wolves’ owners have lent them £75.0 million interest free.

What perhaps surprised us most was to learn that Mike Ashley,hated by many Newcastle fans,has in fact loaned the club £144 million interest free.

There is a worrying trend here for West Ham supporters.Most agree that due to ‘the big six dominance’ we start the season hoping to compete with others for seventh place.Should Everton and Wolves continue their investment programmes will we soon be competing for 9th place?.-Remember they have both spent millions upgrading training facilities,Wolves are about to start redeveloping Monineux and Everton plan to move into new FOOTBALL stadium in the near future.If Brighton and Aston Villa continue to invest could we even(surely not)be pushed down the pecking order to competing for 11th place.-and what about Leicester City with work well underway on their new £100 million training ground.

Unfortunately it seems that Mr Gold and Mr Sullivan will not be able to deliver on their promises of ‘next level’.As we said before perhaps they lied or perhaps they have been overtaken by events.Whatever it seems their only course of action is to look to sell the club to others who are able to move the club on.Until then they would go some way to improving their standing and popularity with the West Ham fans if they were to follow the lead of most of their fellow owners and not charge interest on loans.

We would like to place on record the assistance received from Kieran Maguire at the University of Liverpool in the writing of this article.-Many thanks Kieran.

Hammers United Committee.

We are doing our best to improve things for West Ham Supporters.Please check our website out www.hammersunited.com Thank You.

Replies - Newest Posts First (Show In Chronological Order)

Side of Ham 3:39 Wed Aug 21
Re: Shareholder Loans
Do carry on pointing it out Mex, it's gone beyond being anything special, you are just told it is.

Mex Martillo 2:14 Wed Aug 21
Re: Shareholder Loans
I know, Side of Ham, almost no one listens to these arguments. But it is all screwed up we complain we are being shafted and get fucked off if everyone involved is not also getting shafted.
If only all supporters could unite and stop the few from shafting us... it sounds so simple, but needs everyone and I guess will never happen. I can’t stop pointing it out though...

Westham67 2:08 Wed Aug 21
Re: Shareholder Loans
I understand how most are fucked off with the board. I was pre MP to be fair

What do we want as supporters though ?a good cup run, some decent football and some spine when needed

Side of Ham 2:04 Wed Aug 21
Re: Shareholder Loans
Like I get told on the move Mex, you can't change it now, so move on, and want for what other clubs are getting.

Mex Martillo 1:55 Wed Aug 21
Re: Shareholder Loans
This is so screwed up. There is so much money in football and supporters group now campaign that it is not enough and owners are judged on how charitable they are and ask that they give vast amounts of money by to the club.

When are we going to see money is killing the game? We should ask for free TV coverage and ticket prices in line with the cinema. That would reduce money available to clubs, cut player wages and return some sense to football finances.

Kite 10:11 Wed Aug 21
Re: Shareholder Loans
J.Riddle wrote...
Forgot to mention this is a massive scandal, can’t believe no one has picked up on it and they have allegedly got away with it without as so much as whimper.


I've been scratching my head at that one too, be good to find out where the money has gone.

As we all know they are making a lot more money than just the interest payments.

J.Riddle 2:54 Wed Aug 21
Re: Shareholder Loans
Forgot to mention this is a massive scandal, can’t believe no one has picked up on it and they have allegedly got away with it without as so much as whimper.

J.Riddle 2:50 Wed Aug 21
Re: Shareholder Loans
Chav, good stuff all true, but some still think it’s OK because the two bobs are running a business not a charity.

Any chance we can dig a lot deeper for information on WHY the BOLEYN was sold according to the clubs accounts if memory serves me by the two bobs for £40m to a developer who flipped it within a year and sold it on to another developer for £60m?

Doesn’t sit right, as the two bobs assets are mostly in property and they know the market more than most, there must have been a valuation done by a chartered surveyor so why was it undervalued by £20m? I’m not suggesting there was any large brown envelopes being handed out and the £20m allegedly ended up in a few Swiss bank accounts, but it would be interesting to find out as that money could have been invested in the playing staff to help us get to that next level?

Who in seniority at the club signed off the -£20m undervaluation, whoever it was shouldn’t be in their job losing the club £20m?

muskie 12:52 Wed Aug 21
Re: Shareholder Loans
Great post Chav, glad someone else can see how they've turned West Ham into their own cash cow.

Unfortunately so many thick cunts on here can't see it.

Side of Ham 12:22 Wed Aug 21
Re: Shareholder Loans
We have a top of the table capacity stadium but have mid table investment at best.

The support has stepped up the owners haven't.

camel-with-3-humps 9:39 Tue Aug 20
Re: Shareholder Loans
7% is about average charge, 4% is better.

The real issue is not about them milking the club, shareholder loans.

The crux of the matter is there is not realistic strategy to get us to top six. The extra ticket revenue is only marginally impactful; we don’t have a global fanbase to tap via TV and merchandising.

A richer owner might invest more heavily to get us into CL football whereupon organic revenue rockets.

Gold and Sullivan can talk all they like about ‘next level’. But it’s like Boris claiming the EU will cave in on the Irish backstop.

You hear it, but most people know it’s just a load of fucking old crap.

Takashi Miike 9:38 Tue Aug 20
Re: Shareholder Loans
http://priceoffootball.com/west-ham-2018-plastic-passion/

On The Ball 9:36 Tue Aug 20
Re: Shareholder Loans
rumford 4:56 Tue Aug 20

True, but ideally that would be part of the purchase price for a buyer.

rumford 9:12 Tue Aug 20
Re: Shareholder Loans
camel
I'm sure iv'e seen details on here showing that the owners had reduced the amount of interest charged on their loans but maybe I'm wrong.

camel-with-3-humps 9:02 Tue Aug 20
Re: Shareholder Loans
There is no evidence Gold and Sullivan are milking the club.

There’s no dividends and a low rate interest loan. That’s it. FACT. It’s all there on Companies House.

The issue at stake is that they promised ‘next level’ but the increase in revenue from the OS is not enough to make us competitive with the top six.

rumford 8:44 Tue Aug 20
Re: Shareholder Loans
All the talk in the past about owners spending the own money, as this article show its generally about loans albeit interest free

Presumably the loans will repaid particularly in the case of Chelsea [1 billion] when the clubs change ownership.

Kite 8:44 Tue Aug 20
Re: Shareholder Loans
I love the hate towards these 3 clowns, it mirrors my own, they nothing but greedy lying scumbags that are going to cash in just like T. Brown did on years of our hard earnt money.

It was our parents and grandparents that built this club not them and it sickens me to the core how much they will make on the back of pass generations.

I don’t believe they are in the process of selling, I think it’s a smoke screen to try and stop people moaning about their once again lack of investment in the summer.

Looking at the timeline of this story, it first got mentioned on KUMB in a piece written by it’s owner saying he has been told a sale could be on the cards. I’m not sure but that article has since been removed.

At the same time a couple of treads were started on KUMB regarding if we want new billionaire owner and in amongst all this it turns out that one poster is close to the Sullivan’s and said he was told some detailed info on a sale. This is probably where the KUMB editor got the story.

It’s nothing but a smoke screen, they are making good backdoor wedge at west ham and will be here for a few years yet.

camel-with-3-humps 8:34 Tue Aug 20
Re: Shareholder Loans
Good and Sullivan are not doing anything wrong here!

There was a shareholder loan. So what!

The interest is better than the bank. I haven’t seen the accounts but it is apparently a roll up - even better. This is frequently paid upon sale by the new buyer.

Private equity/hedge funds and business owners do this all the time.

Yes, you can argue richer owners would make bigger loans and interest free, or equity swap it for basically nothing like Abramovich - ergo, we need richer owners who can manipulate that and FFP.

But to accuse G&S is plain wrong. Seriously, this shareholder loan stuff is a red herring.

MaryMillingtonsGhost 8:20 Tue Aug 20
Re: Shareholder Loans
cartis 8:06

cartis 8:06 Tue Aug 20
Re: Shareholder Loans
13 Brentford Rd 3:47 Tue Aug 20

Exactly.

It's why I cannot now and never will understand all the sucking up to that old cunt Gold.

He is every bit as bad as Sullivan and Brady, the three of them have absolutely slaughtered this club for nothing other than personal greed.

However it happens and sadly they will make even more when they go I just want these three despicable cunts gone.

Manuel 5:22 Tue Aug 20
Re: Shareholder Loans
The way this is set out out must surely bring it home to even the most idiotic happy clapping fool that we sold our soul down the river and moved for nothing. The move 'may' have made 'some' sense 7 years ago, but that is a long time in modern day football, and now new, wealthy, ambitious owners have come into clubs in and around us, which leaves staring at best case 9th-10th for the forseeable. Suck it up cunts. Tragic.

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