Football Forum | Ticket Forum | Off-Topic Forum | All

cuzoftheeast 9:05 Mon Mar 19
? For the financial experts - did the club use profit to pay loans?

Or did they choose to keep paying themselves interest?

CONFLICT OF INTEREST?

The Kronic 10:25 Tue Mar 20
Re: ? For the financial experts - did the club use profit to pay loans?

If Sullivan and Gold are motivated only by money why have they plunged the club into a relegation dogfight?


______________

Because the tightfisted, greedy pigs' sole intention is to stay in the Prem in the cheapest manner possible, whilst they continue to fleece the club. It's a gamble they seem to relish in.
In fact these are the kind of parasitic scum you and your ilk usually applaud.

Iron2010 10:17 Tue Mar 20
Re: ? For the financial experts - did the club use profit to pay loans?

On reflection that are probably more dangerous than short because they have not only underinvested but taken millions out of the club at the sane time.

Iron2010 10:12 Tue Mar 20
Re: ? For the financial experts - did the club use profit to pay loans?

Agreed Hermit.

They’ve fallen into the same trap that short at Sunderland fell into by attempting to milk prem survival and associated income with minimum investment.

Hermit Road 10:00 Tue Mar 20
Re: ? For the financial experts - did the club use profit to pay loans?

Getting relegated poses a massive financial risk even assuming we do shift the high earners.

They’re not trying to relegate us to earn money, they’re doing it because they’re utterly incompetent and lack vision.

Iron2010 9:57 Tue Mar 20
Re: ? For the financial experts - did the club use profit to pay loans?

That isn’t true Infidel. A fire sale and the subsequent savings in wages will see us remain broadly stable for a year or two with the parachute payments. They face ruin that f we aren’t up in two years.

Infidel 9:43 Tue Mar 20
Re: ? For the financial experts - did the club use profit to pay loans?

Claret

If it's all about the money why have they driven us to the brink of relegation?

You do understand that they will be wiped out financially when we are relegated?

If they were genuinely interested only in the money they would have paid whatever it takes to keep us in the Premier League, surely. There is no logic in your argument.

Bernie 2:19 Tue Mar 20
Re: ? For the financial experts - did the club use profit to pay loans?

WorldCupWilly 1:55 Tue Mar 20

Cheers mate

WorldCupWilly 1:55 Tue Mar 20
Re: ? For the financial experts - did the club use profit to pay loans?

Bernie 11:15 Mon Mar 19

I read somewhere the club took a £30m payday loan, £10m of which was paid to G&S as an interest payment.
--------------------------

Page 45 of the accounts:
Further loans of £6.0m and £19.0m were taken out on 15th August 2017 and 18th August 2017 respectively with Rights and Media Funding Ltd, secured on a fixed and floating charge of all assets of the Club.

On 18th August 2017, the Club made two payments totalling £10,000,000 in partial settlement of interest accrued on the Shareholder loans.


So instead of borrowing £9m on 18th August, we had to borrow £19m so we could pay G&S £10m in interest!

Mike Oxsaw 9:59 Mon Mar 19
Re: ? For the financial experts - did the club use profit to pay loans?

Don't forget that with Payet we effectively trod in a pile of dog shit and found an ayrton stuck to the sole of our shoe.

That tenner carried us for one season until the stench of dogshit rose again (not sure we can credit the Frenchman from seeing the future and getting out as soon as he could).

The Daveses obviously thought they could sit back and fold their arms with that big fucking "Job Done" grin plastered all over their boats.

They probably felt that they need put no more money aside for transfers for at least 5 years and are now unable to find the funds to keep the club steady, let alone next level.

chim chim cha boo 9:33 Mon Mar 19
Re: ? For the financial experts - did the club use profit to pay loans?

Claret has it and them bang-on. It might sound snooty (and coming from me, a Canning Town boy I get the irony) but you can't buy class. Sullivan is a classless cunt who surrounds himself with yes men who take his wages and crawl up his arse.

If everyone you surround yourself with is too frightened of you to say 'No, I think you are wrong' from time to time you become a monster. I've seen people become like that on many occasions. The difference is that those people don't have to contend with an angry mob of West Ham supporters who will never toe the company line.

Sullivan has come very unstuck.

claret on my shirt 7:07 Mon Mar 19
Re: ? For the financial experts - did the club use profit to pay loans?

I find this threat amusing, people who think that the players will not come for a reasonable pay rise are beyond dumb. Its all about the money.

Sullivan has played football manager with us and alas he’s not read the help file.

As for sayings he’s employed bad managers thats rubbish as well. We finished 7th with Bilic, how many times have we finished above that ever?

I agree with everything they say is bullshit, they are 2 bob salesmen who will say and do anything to make money, alas they destroy relationships rather than realize if you treat people right they will buy or sell to you again. They lack class and breeding and that comes over time and time again. We just look mutton dressed aslamb in everything we do

Swiss. 6:39 Mon Mar 19
Re: ? For the financial experts - did the club use profit to pay loans?

COOL HAND correct

Yep I think they underestimated the risks of relegation and now are probably bricking it. Thought we could be comfortably be mid table with minimum investment.

If it's obvious to us we needed a DM player then sure Bilic and Moyes identified this. Thus the screw up on Carvalho and Dendonker.

Iron2010 6:14 Mon Mar 19
Re: ? For the financial experts - did the club use profit to pay loans?

I agree with Darby. They have attempted to stay in the league with the minimum investment and under cooked it.

COOL HAND LUKE 5:34 Mon Mar 19
Re: ? For the financial experts - did the club use profit to pay loans?

a) People with a lot of money ALWAYS want more money... it is a habit they can't break. Especially if they are rags to riches - they always believe shit will happen and their money will run out, hence they never have 'enough'.

b) Their interest in the interest is greater than their interest in the success of the club. There are examples in almost half the PL clubs of owners / major shareholders making interest free loans to their clubs. And there is one glaring exception to that.

c) Don't be fooled into thinking that the Daves wouldn't mind relegation; it WOULD devestate their holding. It is a sign of Sully's complete and utter inability to grasp the basic tenets of the sport he is invested in that he could not see the massive risk attached to just holding his breath and hoping it would be okay. He can't be told anything - a lifetime trait. He didn't want to miss the chance of grabbing some cashback, so he gambled with the club's fortunes...

d) Both he and Goldie put far too much trust in KB, and (more crucially) got into the habit of leaving her to her own devices without checking her actions and agenda. Mistake.

Shit Street, without a shadow of a doubt.

Darby_ 5:23 Mon Mar 19
Re: ? For the financial experts - did the club use profit to pay loans?

Infi, G&S being cheapskates and incompetent aren’t mutually exclusive.

It’s a bit like Terry Brown telling everyone we had to “tighten our belts” and the next season we get relegated and go into financial meltdown.

13 Brentford Rd 5:10 Mon Mar 19
Re: ? For the financial experts - did the club use profit to pay loans?

Reports at the time said Dendonker and WC wanted to come. Didn't say "desperate to come" but they were happy to come here.

The question still remains why did we not sign one of them or another Defensive Mid, and instead signed players who were cheaper in positions we didn't particularly need to fill?

Infidel 5:04 Mon Mar 19
Re: ? For the financial experts - did the club use profit to pay loans?

Iron

There is a flaw in your logic.

If Sullivan and Gold are motivated only by money why have they plunged the club into a relegation dogfight?

Relegation will destroy their investment in West Ham. The club will lose more than half its value overnight. They will be nursing heavy losses and they will lose access to the motherlode of cash generated by PL TV rights.

If they were genuinely interested only in milking the club for cash they would have prioritised staying in the PL at all costs.

That's why this stuff about being cheapskates doesn't stack up. It's self contradictory.

There is a much more plausible argument, namely that they are just incompetent and make bad decisions because of a lack of intellectual firepower around the boardroom table.

We have three 40W lightbulbs running the club. It's no wonder we are in trouble.

Iron2010 4:56 Mon Mar 19
Re: ? For the financial experts - did the club use profit to pay loans?

I feel the same as Chim. Why does a billionairrre feel the need to use our club to enrich himself further and why on earth is a billionaire motivated to earn even more money.

Swiss. 4:44 Mon Mar 19
Re: ? For the financial experts - did the club use profit to pay loans?

player we desperately needed. Sully came in with a cheapskate half arsed offer.

Swiss. 4:44 Mon Mar 19
Re: ? For the financial experts - did the club use profit to pay loans?

Iron2010

We also identified Dendoncker as the kind of pl

Sven Roeder 3:18 Mon Mar 19
Re: ? For the financial experts - did the club use profit to pay loans?

The best interests of the club would be served by them converted the money owed to them as interest paying debt into shares.
And not taking dividends

Page 1 - Next