Trevor B 3:46 Fri Sep 29
Icelandics sell remainign shares
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From C&H:
The Icelandic’s have finally sold their remaining ten percent shareholding of West Ham United to an American investment firm called The Blackstone Group. The firm boast they have $371billion assets under their management.
As part of the sale of shares, Albert ‘Tripp’ Smith joins the board of West Ham directors to undersee the new investment.
Albert (Tripp) Smith is a Senior Managing Director of The Blackstone Group, and a Founder of GSO Capital Partners. Before co-founding GSO which he sold to Blackstone in 2008 for about $1bn. Prior to that Smith was Global Head of the Capital Markets Group within the Alternative Capital Division of CSFB.
The sale ends an eleven-year association with the former Icelandic consortium who were victims of the 2008 financial crisis.
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Replies - Newest Posts First ( Show In Chronological Order)
Gavros
6:52 Mon Oct 2
Re: Icelandics sell remainign shares
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It's happening.
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Pee Wee
6:44 Mon Oct 2
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Reading an article on another site and it seems that actually is their MO.
A new investor is always a risk - however I'd happily roll the dice if it means getting rid of the gnomes
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Willtell
6:43 Mon Oct 2
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If you check out The Blackstone Group they list over a hundred 'Senior Managing Directors' although Tripp is only the 9th in the lists it doesn't make him that important in the organisation.
He reputedly got $1bn for selling his own fund into Blackstone (sounds like a Mat Damon movie!) but still runs it as an employee MD. It may well be genuine that he is pursuing his own interests because it is obvious that someone will make a lot of money when G&S eventually sell up because they will...
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roltrader
6:35 Mon Oct 2
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Their 10% would give them a little due dilligence, probably enough to tout it around their particularly crazy arab clients...........then I woke up
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Gavros
6:24 Mon Oct 2
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https://www.google.co.uk/amp/s/mobile.nytimes.com/2017/05/25/business/dealbook/blackstone-saudi-arabia-investments-infrastructure.amp.html
Nudge nudge
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roltrader
6:08 Mon Oct 2
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Exactly, nobody buys into this shit unless they have some inside info
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Pee Wee
6:06 Mon Oct 2
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Holding out hope that he invested knowing that someone from his portfolio is going to come in and buy the other 90% thus seeing the share price rocket
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Side of Ham
12:28 Sun Oct 1
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Blackstone hasn't bought in it's this fella on his own isn't it?
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Capitol Man
2:49 Sat Sep 30
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Baclskstone is a private equity shop. Given the minirity holding they likely just parking so,e cash there which they expect to be able to sell once a real interest come in.
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Steven P
12:09 Sat Sep 30
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What's all this about Sullivan wanting the shares but they wouldn't sell to him?
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Boycie
11:54 Sat Sep 30
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and at least he is underseeing and not overseeing
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Boycie
11:53 Sat Sep 30
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using OPM "other people's money"
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J.Riddle
11:06 Fri Sep 29
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I assume there is definitely an ulterior motive for a largish investment Senior Managing Director to come on board other than to take in the odd game when he is this side of the pond.
As others allude, purchasing the stadium at a substantial reduction in premium if it should come available due to Birmingham or other is a no brainer for the 2bobs.
Inconsideration that the Qataris enjoyed a £275m discount when they purchased the Olympic Village I would also expect there would be a large reduction in any sale price for the White Elephant stadium as it costs the taxpayer £8m just to move the seats and approximately three quarters of the stadium would need to be demolished to change it from a multi-use stadium into a dedicated football stadium.
I am sure Mr Smith's investment contacts and expertise will be utilised to help facilitate the above in the years ahead when the stadium becomes available for sale.
Once the 2bobs own the Freehold they will be free from the shackles of the LLDC sell on caveats, hence collectively the club will be of a much higher worth and become a much more enticing prospect for a wealthy buyer.
Let's hope the buyer(s) when they come do not have short arms and long pockets like the 2bobs.
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Crassus
11:06 Fri Sep 29
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had a quick Google and found this from The Guardian in 2010
Interesting, what's the odds it's one and the same buyer?
https://www.theguardian.com/sport/2010/jan/06/west-ham-united-straumur-investors
And Gav, you raise an excellent point, my immediate thought was that Sulli would want those shares and was somehow precluded but you are absolutely correct, he did always refer to investment from viable third parties
Also, whilst it is an easy shot with the dildo and porn references, he is no fool, an accountant who graduated in economics, he knows his way around a pound
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dicksie3
10:40 Fri Sep 29
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WHEN'S MESSI SIGNING, INNIT?!
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Trevor B
10:37 Fri Sep 29
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Last point is also spot on, he didn't want to sell any of his own holding but has always been hoping for outside investment.
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Gavros
10:32 Fri Sep 29
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Yeah it was owned by Stramur which acted as the asset management company on the assets retrieved from the banks.
More interesting is why sulli never took the option on the last 10% when it's always been going cheap. Seems to me he's held that out as a morsel for an investor to come in on.
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Trevor B
10:21 Fri Sep 29
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You might be right there Crassus, that rings a bell.
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Crassus
10:20 Fri Sep 29
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Trev
I wonder if the Icelandic holding may be the more revelatory end of the deal?
If I remember correctly, after the collapse there was a consolidation of asset and a managed disposal, of which our club was the last retained
Mind you, that was a while back and there have been a few Stellas under the bridge since so I may be talking bollocks - again
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Trevor B
10:11 Fri Sep 29
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Spot on Gavracist ;-)
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Gavros
10:11 Fri Sep 29
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This bloke is a - maybe the - expert in leveraged debt.
Remember that the taxpayer claw back is reduced against debt.
....
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