Accounts have been published

[goose]

https://www.whufc.com/news/financial-re ... -announced

WH Holding Ltd has today announced its financial results for the year ending 31 May 2024.

The results show a net profit before tax of £57.2million, with the Club record transfer of Declan Rice, a product of the Academy of Football, and the Club’s UEFA Europa Conference League victory prize money, which is reflected in this set of accounts, key factors.

Other factors for the significant profit include the increase in turnover thanks to the higher Premier League position achieved in 2023/24 (ninth), and higher revenues in the UEFA Europa League compared to the UEFA Europa Conference League, where the Club advanced to the quarter-final stages.

These results placed the Club in a strong and healthy position to be able to re-invest every penny of the profit, as well as investing additional funds, strengthening the men’s first team playing squad substantially and significantly during the summer 2024 transfer window, following the arrival of new Head Coach Julen Lopetegui.

[ATHammer]

West Ham are now a club with no self respect from top to bottom. 
At board level. Railroading the removal of concessions whilst claiming, in the accounts, to still have the cheapest tickets. All with a foreground of an absolute dross "product" they want us all to pay more for. Pushing their own individual agendas rather than removing a manager who is clearly not up to the job and refusing to accept it was a bad appointment that continues to fail.  
At managerial level. Failing to communicate and falling out with players, failing to improve a single player, ill discipline throughout and making good, some world class, players look like a disorganised rabble. Regularly playing players out of position and failing to look at either the youth team or players he did not select. He also insists on playing those beyond their "sell by date" making good servants of the club look crap as they can no longer perform at this level. No identity or pattern of play whatsoever, other than a white flag. 
At team level. Oh well, its 3-0; 4-0; 5-0 whatever. No heart, no "fuck this bollocks let's have a go" as we saw once with the rebellion against Moyes and previously under Noble and Parker as examples. I don't believe for a minute that the players are not trying but I do believe that once we go behind resignation sets in. Allegedly Kudus and Paqueta have recently had good games to impress "suiters". More likely they are good players who sparked into life against good opposition but sank back into the morass of mediocrity. 
At supporter level. Before Covid there was a recognition that the board were taking the piss, the stadium and experience were/are bad and the football was not good enough. Then we protested together as fans, as we did against the bond scheme, and started to make a difference. A few good results and an overdose of dilution with tourists and that spirit is gone. We bicker amongst ourselves as to who is to blame and call out individual players, even when it is patently obvious that successive managers have set them up to fail. 
The protests should be ramped up. The ground is shit, the football is shit, the manager is shit and the board a bunch of cunts.
We should be West Ham again, show a bit of self respect, come together and call these cunts out. We won't get rid of Sullivan and Brady but we can at least unite and make them uncomfortable by escalating the protest. The black balloons are a start but a march would be better.
If this malaise carries on this forum will eventually disappear. Tourist won't post, and if they do they can fuck off, their opinion doesn't matter, and those who walk away will not come back.
 

[SurfaceAgentX2Zero]

That ignores that cost of funding the investment. You can't have it both ways - if you deduct the interest received, you have to add back the cost of funding.

[Takashi Miike]

as I've said before, they're nothing more than parasites

[goose]

Nicked from kumb, but everyone should have a read of this before claiming that Sullivan puts ‘his’ money into the club:



2010

• Gold and Sullivan initially purchase 1,000 shares (25% of the total shares each) for West Ham in January.

• Sullivan's company 'Conegate Developments Limited' 2010 accounts inform us that it works out at £21,648 per share.

So this was a purchase price of £21.65m - which ties in with this Paul Peschisolido comment (£10.82m each).

• Later, G&S acquire another 112 shares each to take their combined ownership to 61.2%.

• Conegate accounts let us know these shares were valued at £20,100 per share - so another £2.25m each (running total is £13.08m each).

• Daniel Harris, John Harris, and Terence Brown also acquired 76 shares (3.8%) between them for an unknown amount.

2013

• David Sullivan buys 500 more shares (25%) giving G&S 86.2% ownership of the club.

• Sullivan also sells 90 shares (4.5%) from his company 'Roldvale' to 'Gold Group International Limited' - this means Sullivan now has 51.1% ownership (1,022 shares) whilst Gold has 35.1% (702 shares).

• The 2014 accounts for GGI show the amount per share to be £32,400. This means Gold has now paid £15.99m for his shares.

We can therefore estimate the cost of the other 500 shares from Sullivan could be £16.2m, which means with the £2.92m received from Gold, that Sullivan would now be up to £26.36m for his shares.

2017

• Tripp Smith (WHU LLC) buys the remaining 200 shares that were left over from the Icelandics (10.0%). It's not confirmed anywhere how much these cost though.

2020
There was a rights issue for £30m, creating 750 new shares - therefore a cost of £40,000 per share.

• Sullivan purchased 395, which included 95 not taken up by John Harris, which increased him to 50.5%, and a total outlay of £42.16m for his 1,417 shares

• Gold purchased 263 keeping him at 35.1% and a total spend of £26.51m for his 965 shares

• Smith purchased 75 keeping him at 10.0% and 275 shares

• Daniel Harris and Terence Brown increased their shares by 12 and 5 to 44 and 18 respectively. John Harris remained at 31. Combined these were the last 3.4%

2021

• Initially Daniel Kretinsky (1890s holdings a.s) pays £125m for 688 new shares as detailed in the 2022 accounts. This gives him a 20.0% stake of the club. It waters down Sullivan to 41.2%, Gold down to 28.1%, Smith to 8.0%, and the others to 2.7%.

• Kretinsky then buys 240 existing shares for a cost of £43.75m (£182,292 per share) to take his control to 26.99% as detailed in the 2022 accounts.

• Gold sold 103 shares for £18.78m (leaving him with 862 shares, 25.07%).

• Sullivan sold 84 shares for £15.31m (leaving him with 1,333, 38.77%).

• Daniel Harris (who also took on John Harris's shares) sold 44 for £8.02m (leaving him with 31, 0.90%).

• Terence Brown sold 9 for £1.64m (leaving him with 9, 0.26%).

So when we tot it all up.

• Sullivan has paid a net £26.85m.

• Gold paid a net £7.74m.

• Kretinsky has paid £168.75m.

We know from the accounts that G&S each took out just under £12m in interest on the (now repaid) loans too, so that means Sullivan's net price for his involvement at West Ham might well be around £15m, whilst the Gold's are already in profit by about £5m even before any sales of the shares they hold.

What Kretinsky paid back in 2021 would also value the club around £627m. At that value (and we know they want more), if Sullivan sold all his shares he’d make about £230m profit in the end, whilst the Gold’s would stand to make over £160m - let that sink in whilst they charge concessions full price…
 

[Massive Attack]

Should at least retrieve much of Aguerds value back again now he's regained his form significantly back in Spain with Real Madrid seriously sniffing around him.

[goose]

If we’d sold Paqueta to MC it’s an example of the model working. Same when/if we flog Kudus in the summer. I imagine we will and it’ll put a different spin on next years accounts.

Problem is, players like Aguerd, scamacca, cornet, JWP, Fullkrug etc etc that we’ve wasted tens of millions on.

[Westside]

So we spent all the money on what we have now.... hmmmmmm

There’s further instalments due……… but yeh not far off. The good news is that we’re profitable outside of player trading. But we can’t keep buying players and losing money on them.

In cash terms, we have £64 million on player sales to come in (as at the date of the accounts) but £191 million to go out.

And in the summer transfer window, we signed players for £110 million, which will be payable in varying installments.

[goose]

So we spent all the money on what we have now.... hmmmmmm

There’s further instalments due……… but yeh not far off. The good news is that we’re profitable outside of player trading. But we can’t keep buying players and losing money on them.

[Jasnik]

Feels similar when we spent the Rio money!. Who did we buy song and Daily? 

[Jasnik]

So we spent all the money on what we have now.... hmmmmmm

[Nutsin]

 

Do shut up you idiot... Moyes left a shambolic Squad of aging and slow players that had to be retired, shipped out and overhauled ... That profit would have been a loss had we not sold Rice, who Moyes inherited. He also left us without European football after bottling it from 6th in the table!!!

Stop mincing on about Moyes you absolute F&ckwit!

Credit goes to Moyes and the Team for getting the European run which has been financially beneficial.

 

Billy just can’t contain himself, such a hot headed weirdo.

Moyes left the squad no worse than the one he inherited.

He was able to make chicken salad out of chicken shit,  Was he perfect? No, of course he wasn’t, However he left enough money in the Coffers to rebuild something to be said for that.

 

He had a perfectly good squad when he joined, he was incapable of improving it and after 4 years the squad was worse...

The real point Nutsack is its time to move on ... you just cant stop harping on about the love of your life... the most boring manager who gave us the most boring football we have ever had... sums you up really boring!!!!

And I gave him credit for the european seasons so not sure what your last point is!!!

Fuck me Billy 4 exclamation points, You’re not messing around are you.

personally I think Fat Sam was the most Boring manager we have ever had. As for Moyes, yes he did have a bad spell at the end but there were plenty of games we played entertaining stuff too.

And Now we have J Lo and I must say it is quite entertaining to watch if you are a fan of the opposing team.

[Hammer and Pickle]

Weren't you making your fortune today shorting privately owned stock? 

The neck on this cսnt questioning someone elses mental capacity.

Actually, judging by your nit-picking bluster combined with a total lack of real-world awareness, I’ve decided to unfoe you, Pointy. Your trade-mark excel-spreadsheet narrow view makes for too great sport to be ignored. 

Also, under this guise you have revealed you are ready to argue for a migration audit since 1997 only to claim you were baiting and take on an opposing position on moral grounds when you realised the financial counter argument was getting you handed your flabby priest-ridden arse. You really are excellent sport, Pointy. Where’s you even more mentally subnormal brother, mimmler?

 

From the man that thinks you can short privately owned stock...I was baiting you, you bit. You showed yourself to have no issue with interning millions of brown people, seizing their assests and forcibly deporting them as long as it could be fully costed. You then put me on " foe" because you had an autistic hissy fit after showing your true red, black and white colours.

I mean who foes a person after apparently besting them? No one does, why would you?

Keep shorting, you're on a winner...

I showed absolutely no such thing and the whole moral aspect of migration is one I'm ready to make a far stronger case for than you ever will. But that's because all you have is bullshit and gaslighting and are actually nothing more than a Labour voting Yid on a West Ham football site talking crap under various usernames.

[THUNDERCLINT]

Ah, another mental-midget with nothing to say. Please from an orderly queue over there.

Weren't you making your fortune today shorting privately owned stock? 

The neck on this cսnt questioning someone elses mental capacity.

Actually, judging by your nit-picking bluster combined with a total lack of real-world awareness, I’ve decided to unfoe you, Pointy. Your trade-mark excel-spreadsheet narrow view makes for too great sport to be ignored. 

Also, under this guise you have revealed you are ready to argue for a migration audit since 1997 only to claim you were baiting and take on an opposing position on moral grounds when you realised the financial counter argument was getting you handed your flabby priest-ridden arse. You really are excellent sport, Pointy. Where’s you even more mentally subnormal brother, mimmler?

 

 

From the man that thinks you can short privately owned stock...I was baiting you, you bit. You showed yourself to have no issue with interning millions of brown people, seizing their assests and forcibly deporting them as long as it could be fully costed. You then put me on " foe" because you had an autistic hissy fit after showing your true red, black and white colours.

I mean who foes a person after apparently besting them? No one does, why would you?

Keep shorting, you're on a winner...

[BillyJenningsBoots]

 

Do shut up you idiot... Moyes left a shambolic Squad of aging and slow players that had to be retired, shipped out and overhauled ... That profit would have been a loss had we not sold Rice, who Moyes inherited. He also left us without European football after bottling it from 6th in the table!!!

Stop mincing on about Moyes you absolute F&ckwit!

Credit goes to Moyes and the Team for getting the European run which has been financially beneficial.

 

Billy just can’t contain himself, such a hot headed weirdo.

Moyes left the squad no worse than the one he inherited.

He was able to make chicken salad out of chicken shit,  Was he perfect? No, of course he wasn’t, However he left enough money in the Coffers to rebuild something to be said for that.

As much as I like Billy (and I truly do), I do agree that Moyes left us in decent shape. Also, his legacy will be that he is the safest pair of hands we have ever had.

he also made us champions of Europe

 

 

You can fuck off as well... Champions of Europe... safest pair of hands... load of old bollocks!!!! Get back to your beloved Spurs.

[Hammer and Pickle]

"Champions of Europe" you make us sound like he won the Champions league 

He's on a wind-up and best ignored. Claimed he was at the ground on Sunday and disappeared when asked to send a pic.

[gpike]

"Champions of Europe" you make us sound like he won the Champions league 

[BillyJenningsBoots]

Looks like Moyes left us in good shape financially.

 

Do shut up you idiot... Moyes left a shambolic Squad of aging and slow players that had to be retired, shipped out and overhauled ... That profit would have been a loss had we not sold Rice, who Moyes inherited. He also left us without European football after bottling it from 6th in the table!!!

Stop mincing on about Moyes you absolute F&ckwit!

Credit goes to Moyes and the Team for getting the European run which has been financially beneficial.

 

Billy just can’t contain himself, such a hot headed weirdo.

Moyes left the squad no worse than the one he inherited.

He was able to make chicken salad out of chicken shit,  Was he perfect? No, of course he wasn’t, However he left enough money in the Coffers to rebuild something to be said for that.

 

 

He had a perfectly good squad when he joined, he was incapable of improving it and after 4 years the squad was worse...

The real point Nutsack is its time to move on ... you just cant stop harping on about the love of your life... the most boring manager who gave us the most boring football we have ever had... sums you up really boring!!!!

And I gave him credit for the european seasons so not sure what your last point is!!!

[Ladysmith]

Looks like Moyes left us in good shape financially.

 

Do shut up you idiot... Moyes left a shambolic Squad of aging and slow players that had to be retired, shipped out and overhauled ... That profit would have been a loss had we not sold Rice, who Moyes inherited. He also left us without European football after bottling it from 6th in the table!!!

Stop mincing on about Moyes you absolute F&ckwit!

Credit goes to Moyes and the Team for getting the European run which has been financially beneficial.

 

Billy just can’t contain himself, such a hot headed weirdo.

Moyes left the squad no worse than the one he inherited.

He was able to make chicken salad out of chicken shit,  Was he perfect? No, of course he wasn’t, However he left enough money in the Coffers to rebuild something to be said for that.

As much as I like Billy (and I truly do), I do agree that Moyes left us in decent shape. Also, his legacy will be that he is the safest pair of hands we have ever had.

he also made us champions of Europe

[Nutsin]

Looks like Moyes left us in good shape financially.

 

Do shut up you idiot... Moyes left a shambolic Squad of aging and slow players that had to be retired, shipped out and overhauled ... That profit would have been a loss had we not sold Rice, who Moyes inherited. He also left us without European football after bottling it from 6th in the table!!!

Stop mincing on about Moyes you absolute F&ckwit!

Credit goes to Moyes and the Team for getting the European run which has been financially beneficial.

 

 

Billy just can’t contain himself, such a hot headed weirdo.

Moyes left the squad no worse than the one he inherited.

He was able to make chicken salad out of chicken shit,  Was he perfect? No, of course he wasn’t, However he left enough money in the Coffers to rebuild something to be said for that.

[Hammer and Pickle]

Ah, another mental-midget with nothing to say. Please from an orderly queue over there.

Weren't you making your fortune today shorting privately owned stock? 

The neck on this cսnt questioning someone elses mental capacity.

Actually, judging by your nit-picking bluster combined with a total lack of real-world awareness, I’ve decided to unfoe you, Pointy. Your trade-mark excel-spreadsheet narrow view makes for too great sport to be ignored. 

Also, under this guise you have revealed you are ready to argue for a migration audit since 1997 only to claim you were baiting and take on an opposing position on moral grounds when you realised the financial counter argument was getting you handed your flabby priest-ridden arse. You really are excellent sport, Pointy. Where’s you even more mentally subnormal brother, mimmler?

[THUNDERCLINT]

Ah, another mental-midget with nothing to say. Please from an orderly queue over there.

Weren't you making your fortune today shorting privately owned stock? 

The neck on this cսnt questioning someone elses mental capacity.

[Hammer and Pickle]

Ah, another mental-midget with nothing to say. Please from an orderly queue over there.

[only1billybonds]

Fourpence, do you never tire of making yourself look so ridiculously out of your depth?
The amount of times you show yourself to be no more than an ignorant peasant is quite alarming.

[goose]

to be fair to Moyes, he cant claim to be partly responsible for the stable (and strong) performance of the club. outside of player trading the business is in good shape.

[Hammer and Pickle]

I wonder who would buy up my stock and at what price. Be interesting to see what Sullivan would actually shell out for it but of course we'll never know as this isn't a PLC.