West Ham, the porn baron and our dues

[lenners]

Now Sullivan and Gold have gone in at West Ham, I think this means our dosh arrives a bit quicker.
Presumably this helps with cash flow?

 

[Cheshire Cat]

I can't think of two other people I'd rather take the money from (unless it was putting Mssrs Duxbury's and Samuels' kids out on the street).

 

[Jim Chimmerney]

Now Sullivan and Gold have gone in at West Ham, I think this means our dosh arrives a bit quicker.
Presumably this helps with cash flow?

I thought we got an extra £5M if the takeover took place but thought it was still paid over the same period of time ?

 

[broomhillblade]

I wonder if they'll offer Turry a job. After all, he's very experienced in these matters.

 

[lenners]

I thought we got an extra £5M if the takeover took place but thought it was still paid over the same period of time ?

Haven't got the accounts handy but don't recollect any extra due if they got took over but do seem to recall they paid up quicker.

 

[Houso]

It is understood that West Ham have agreed to pay Sheffield United £15m over five years, with an extra bond of £5m payable in the event of the club being sold within a certain time period.

http://www.guardian.co.uk/football/2009/mar/16/sheffield-united-west-ham-carlos-tevez

Don't know how right it is obviously...

 

[lenners]

http://www.guardian.co.uk/football/2009/mar/16/sheffield-united-west-ham-carlos-tevez

Don't know how right it is obviously...

Aye, I recollect that but I'm sure I've heard - maybe it was at the AGM - that the money arrives quicker in the event of a takeover rather than extra dosh.

 

[Houso]

You've got to think that the extra 5 million is preferable to the money arriving now as I assume a payment plan can be factored into any loans etc anyway?

 

[ghandi]

Haven't got the accounts handy but don't recollect any extra due if they got took over but do seem to recall they paid up quicker.

I'm not sure West Ham have been taken over as the Icelandic owners still own 50% the pornographers have bought the other 50%. I think it is termed a controlling interest.

 

[beightonblade]

If true yer can bet there smart enuff to wait until one day after the £5million period before 'taking over' ..... well at least on paper.

 

[JohnDenver]

Now Sullivan and Gold have gone in at West Ham, I think this means our dosh arrives a bit quicker.
Presumably this helps with cash flow?

These two were being lauded as good sensible custodians on MOTD. Yet if Brum hadn't been promoted last season they'd have been in major bother. Better to be lucky than good.

Anyway, the dildo merchant names us a major creditor while explaining just what a mess they're in. And boy, is it a mess.

http://www.guardian.co.uk/football/2010/jan/19/david-sullivan-west-ham-bad-situation

 

[Flatulent_Bob]

These two were being lauded as good sensible custodians on MOTD. Yet if Brum hadn't been promoted last season they'd have been in major bother. Better to be lucky than good.

Anyway, the dildo merchant names us a major creditor while explaining just what a mess they're in. And boy, is it a mess.

http://www.guardian.co.uk/football/2010/jan/19/david-sullivan-west-ham-bad-situation

Loving the smoking jacket. :thumbup:

What with my reputation........

 

[JohnDenver]

Loving the smoking jacket. :thumbup:

What with my reputation........

Get the feeling he admires Hugh Hefner?

 

[Flatulent_Bob]

Get the feeling he admires Hugh Hefner?

No idea why

 

[Darren]

Get the feeling he admires Hugh Hefner?

I think its more showing his WHU fan credentials - claret jacket and blue car. Nice.

 

[Jon Bon]

"We need to do a lot of wheeling and dealing which we're good at."

That'd be KMC rolling over and having his belly tickled then.....?

 

[DuncDisorderly]

I think they have shown a lot of courage to put their money in. It also shines a light on some of the crazy wheeling and dealing that the Icelanders did, including borrowing against their future season ticket sales, (I dont expect even Dude would be stupid enough to do that...or would he...?)

 

[Toronto Blade]

He makes a nice fit ugly little man ,all the looks of a typical London shyster.
Scudamore will love him.

 

[happyhippy]

I think they have shown a lot of courage to put their money in. It also shines a light on some of the crazy wheeling and dealing that the Icelanders did, including borrowing against their future season ticket sales, (I dont expect even Dude would be stupid enough to do that...or would he...?)

He probably would, but who would lend him owt against £20 and a scabby goat?

 

[sendô WHU]

I can't see you lot getting any money any quicker. From what Sullivan was saying West Ham haven't a pot to piss in and are mortgaged up to the hilt.

 

[Sothall_Blade]

Portsmouth / West Ham

“Portsmouth claim they have settled their debts with other clubs and want the remaining £2million withheld from their television money by the Premier League paid up.
But Scudamore insisted Portsmouth still had to convince the Premier League that their responsibilities had been fulfilled.
He said: "Portsmouth know the score. We need documentation at the Premier League which is as watertight and as strong as the original contract on which the players were signed.
"The minute we've got absolute proof that any contractual amendments they've made with other clubs are as robust as the original contract that was signed, then obviously that money gets released."
The transfer ban also stays.
Scudamore added: "At the point when we as a Premier League determine there are no outstanding liabilities, absolutely nailed down, absolutely clear, absolutely concise then of course the transfer ban will be lifted, but at the moment it is still it place."

If West Ham owe £40M to other clubs, can anyone explain why the Premier League haven’t withheld their television money and imposed a transfer ban on them? Serious question, I’m struggling to see the difference.

 

[Bristol Blade]

"If West Ham owe £40M to other clubs, can anyone explain why the Premier League haven’t withheld their television money and imposed a transfer ban on them? Serious question, I’m struggling to see the difference."

I don't know by any means, but I suppose one possibility would be that WHU agreed to pay off their debts to other clubs in installments over a period of time, whereas the clubs owed money by Portsmouth might have thought they had an agreement whereby all the money was paid up-front.
But like I say, I don't really have a clue.

 

[Selly]

If West Ham owe £40M to other clubs, can anyone explain why the Premier League haven’t withheld their television money and imposed a transfer ban on them? Serious question, I’m struggling to see the difference.

Basically, Portsmouth were overdue in their payments, WHU are not (yet)

What is more interesting is that WHU have already borrowed against the next 2 years TV and Season ticket sales.

Obviously if WHU get relegated they won`t get as much TV money...

 

[Large Mendonca]

So does this mean we should be rooting for Wham to stay in the Premiership if we are to get what's owed to us?

Uncomfortable with the thought but the Tevez money is more important.....

 

[Flatulent_Bob]

So does this mean we should be rooting for Wham to stay in the Premiership if we are to get what's owed to us?

Uncomfortable with the thought but the Tevez money is more important.....

It makes no difference what league they are in.

The porn boys aren't going to throw money at transfers not for the next 3 years at least. But they would probably put their own money in to settle the bills if Administration was the only other option.

 

[Large Mendonca]

I admire your confidence in that we would still get our money

 

[Flatulent_Bob]

how would we not LM?

Even if they did go into Administration we would still get our cash. Unless they went into liquidation of course, which isn't going to happen.

 

[Large Mendonca]

I think it reflects my feelings towards the words "Sheffield United" and "Justice Done". If we are to get the money that is owed us "100%" then great, i'll be rooting for a Wham relegation big style.

UTB

 

[Selly]

I admire your confidence in that we would still get our money

Its a fooballing debt, hence it has to be paid in full, even if they go into administration.

If they don`t pay it in full, they get thrown out of the league.

 

[Compound_Legend]

Its a fooballing debt, hence it has to be paid in full, even if they go into administration.

If they don`t pay it in full, they get thrown out of the league.

...unless Sir Trevor Brooking is involved on the FA Committee...