WHO Poll
Q: 2020/2021 Where will we finish up this season?
a. Top Four, Champions League here we come
7%
  
b. 5th-7th Europa League is well within our grasp
1%
  
c. 8th to 14th anywhere in mid table is about right
13%
  
d. We're in a dog fight before a ball has been kicked and we'll do well to finish 17th or just above
38%
  
e. GSB have derailed our season before a ball has been kicked, the Championship beckons
41%
  



Alan 1:25 Sat Jan 18
Saturday newspapers (includes West Ham)
BBC

Newcastle United are set to make a bid for Hull City's English forward Jarrod Bowen, 23, after manager Steve Bruce was assured by owner Mike Ashley that he will back him in the transfer market at a meeting this week. (Telegraph)

Manchester United are close to reaching an agreement with Sporting Lisbon to sign Portuguese midfielder Bruno Fernandes, 25, in a deal which could be worth up to £60m, but the move is not imminent. (Sky Sports)

Meanwhile, United are also attempting to recruit a central midfielder on loan until the end of the season. (Manchester Evening News)

That midfielder could be Birmingham City's England youth international Jude Bellingham, after Manchester United made a £25m offer for the 16-year-old. (Daily Record)

Inter Milan are on the verge of signing Chelsea winger Victor Moses, 29, after manager Antonio Conte made a specific request for the club to sign the Nigeria international, who is currently on loan at Fenerbahce. (Mail)

Paris St-Germain left-back Layvin Kurzawa, 27, has dropped a hint that he is edging closer to sealing a move to Arsenal this month after announcing he has joined a UK-based agency. (Evening Standard)

Arsenal have agreed a five-year deal with Kurzawa, with the defender expected to leave PSG in the summer. (Express)

Meanwhile, Arsenal sporting director Edu is lining up talks with Athletico Paranaense over their 22-year-old Brazilian midfielder Bruno Guimaraes. (Goal via Mirror)

Denmark midfielder Christian Eriksen, 27, is closing in on a move to Inter Milan after successful talks with his current club Tottenham. (Sun)

Manchester United have triggered the two-year extension in 25-year-old Ivory Coast defender Eric Bailly's contract to tie him to the club until 2022. (ESPN)

LA Galaxy have signed Mexico forward Javier Hernandez, 31, from Sevilla on a contract that will make him the highest-paid player in Major League Soccer. (Sports Illustrated)

Germany midfielder Emre Can, 26, is likely to move to AC Milan from Juventus. (Sportmediaset - in Italian)

Injured England striker Harry Kane, 26, could return to light training in nine weeks' time and is still expected to be available for Tottenham by the middle of April. (Telegraph)

Leicester City manager Brendan Rodgers has warned Aston Villa that a loan move for the Foxes' 31-year-old Algeria forward Islam Slimani is likely to be "too complicated". (Independent)

Hearts have stepped up their efforts to bring Kosovo forward Donis Avdijaj, 23 to Tynecastle from Trabzonspor. (Daily Record)

Cardiff City fans are disappointed after learning some of the most important items in the club's history are to be sold off by a private owner at auction next week. They have urged the club to buy the collection - including 1927 FA Cup final memorabilia, players' contracts and historic board meeting minutes - back themselves. (Wales Online)

Defender Simon Francis, 34, has said Bournemouth will take the challenge of avoiding Premier League relegation "head on". (Daily Echo)







Football London

How much Gold and Sullivan have put in and taken out of West Ham in 10 years as owners

Ahead of the 10 year anniversary of David Gold and David Sullivan taking over as owners of West Ham a look at how much they have invested into the club, how much they have taken out and the financial story of their decade in charge

By Dean Rudge

West Ham will be celebrating a momentous landmark later this year as the Irons pass their 125th birthday as a football club but before that particular cake is cut, there is another milestone to observe.

Sunday January 19 2020 is the 10th anniversary of David Gold and David Sullivan's takeover of the Hammers.

Their ownership has been one of highs and lows and has not been short of controversy either with one relegation, one promotion, two top 10 finishes, two European adventures, a farewell to Upon Park, the move to the London Stadium, Dmitri Payet, Marko Arnautovic and much, much more.

Having bought up an initial 50% majority stake back in January 2010, the two men have since taken their holding above 85%.

Some Premier League owners are happy for a club to subsist on its own revenues, notably Stan Kroenke at Arsenal and the Glazer family at Manchester United.

Gold and Sullivan have themselves stepped in during West Ham's times of need, handing the club millions in order to be competitive, but they have also taken millions back. Their generosity has come at a price.

Shareholder loans under Gold and Sullivan

Over the years, West Ham's shareholders have loaned the club money to finance operations and investments, with the expectation of it being paid back.

What's more, unlike some clubs in the Football League, these loans have carried interest payments, much like money loaned from a bank.

Interest on the money loaned has accrued at between 4-6%, club accounts have revealed.

This means that West Ham were seeing liabilities rise by as much as £3million per year in interest payments due on shareholder loans.

The first loan from Gold and Sullivan came in the 2010/11 season, their first full season in charge, when £3million was wired to the club.

Ultimately, the season ended in disaster, with West Ham finishing rock bottom of the Premier League to sink down into the Championship for the first time in six years.

This spurred the two millionaire owners into action as they handed over the largest single loan of£32.2million to bolster funds in the 2011/12 season, as they said: "in order to allow the manager [Sam Allardyce] to go into the transfer market and buy the players needed to secure promotion."

Some 18 players were bought or loaned in that year, as West Ham climbed back into the Premier League through the play-offs.

A further £10.5million arrived from Gold and Sulivan in West Ham's first season back in the Premier League, as they secured a top 10 finish, and then £3.5million the season thereafter.
What West Ham owe Gold and Sullivan

All told, this added up to £49.2million in shareholder loans as of the end of the 2013/14 season - and would signal the end of loans from the two owners.

Thereafter, the club began to repay loans as well as the vast interest accrued on the loans. Up to that point, the interest had grown without being paid.

In August 2016, West Ham repaid Gold and Sullivan £4.2million of loans as well as £2.2million of accrued interest, which had reached a mighty £12.7million by the end of the season.

Around the same time, the repayment date of the shareholder loans - £45million - was kicked back to 1 January 2020 through a refinancing deal.

The 2017/18 season was the tipping point: between August 2017 and August 2018, Gold and Sullivan paid themselves a little under £14.6million in interest owed to them on their loans.

This broke down into two payments totalling £10million in August 2017 on shareholder loans that had accrued interest of 6% and three payments totalling £4.59million in August 2018 on shareholder loans that had accrued interest of 4-4.25%.

Still, there is a sum of £45million outstanding, payable on 1 January 2020. football.london approached West Ham for comment on the status of the loan, and whether it had been repaid or deferred further, but the club were unable to divulge any new information with their account for the 2018/19 season yet to be published.

Separate to these shareholder loans, in the 2017/18 season, £9.5million was handed to the club from shareholders, repayable upon the club changing hands.
Share issue under Gold and Sullivan

Upon taking majority control of the club 10 years ago, Gold and Sullivan injected £24million of equity into West Ham - money in the form of new shares, which can only be reclaimed once the club is sold.

This led to a net reduction in borrowings of £12million that season, the club said.

The following year, a further £2million of equity was injected through another share issue but no further share issues have been made in the following seven years.

As the shareholder loans and cash injections from share issues dried up, the club began to use other forms of financing, but this was not from Gold and Sullivan.

One such method favoured by the club was to effectively have lenders advance Premier League payments to West Ham on a short-term basis.

These are typically repaid within 12 months of the agreement.
Dividends under Gold and Sullivan

Businesses will often return money to shareholders in the form of dividends as a kind of reward for their investment.

Manchester United pay out dividends every year, for example, totalling some £23million every season.

As majority shareholders, Gold and Sullivan could pay themselves a dividend but no dividend payment has been awarded to the pair since they took charge.
10 years of Gold and Sullivan

Ahead of the 10-year anniversary of Gold and Sullivan's arrival as West Ham owners, the Irons were ranked inside the top 20 of the world's richest football clubs in the annual results of the Deloitte Football Money League.

It was an announcement that drew ire from some supporters, with their team having tumbled down the Premier League under Manuel Pellegrini this season, with the Chilean replaced by David Moyes - an uninspiring appointment to some.

He had been the manager brought in as a quick fix to steady the ship and avoid another relegation following the end of Slaven Bilic's reign in November 2017 but was let go when his contract expired at the end of the 2017/18 season.

The Scot is understood to have only agreed to return if a longer deal was put forward to keep him at the London Stadium for a sustained period to allow him to work.

Whether or not he is able to build a team capable of more doing more than flirt with Europa League football, as had been the case under Bilic, remains to be seen, but the challenge for Gold and Sullivan is to prove the Hammers will not spend another 10 years repeating themselves.

At times, it has felt as though the team has been stuck in a loop. Star players have been brought in to rise up as cult heroes before alienating the fan base by wanting to leave.

The club has tilted between challenges on the European places and relegation fears. Summer transfer windows have been full of exciting and occasionally expensive signings only for the thrill of the new to give way to dysfunction and, ultimately, disappointment.
The next 10 years

In 2016, West Ham said goodbye to Upton Park and more than 100 years of history at their old and characterful ground to move into the London Stadium - for now the fourth largest stadium in the Premier League after the completion of Tottenham Hotspur's new digs, although only because West Ham are currently restricted from offering all 66,000 seats on a match day.

That capacity would put them behind only Manchester United and Old Trafford but they are still to fill such a venue with the success its grand scale demands, let alone try and pack out the stands with regular match-goers.

Leaving the Boleyn Ground to move into the London Stadium was framed as a transactional move in many way. West Ham's old home was supposed to be stifling their growth, and the ambitions of the club, with its far smaller capacity.

Uprooting the club from the familiar surroundings of Green Street, and disrupting thousands of match day rituals and decades of tradition, was supposed to be a sacrifice worth making to realise the clear and present opportunity available on the former site of the 2012 Olympic games.

Gold and Sullivan's reign will ultimately come to be judged by whether the cost of leaving Upton Park was worth it, and that is measured in ways other than money.

The sustained advances of Leicester City and Wolverhampton Wanderers are what supporters expect in exchange for their new reality. Smart recruitment. Clever coaching. Good football. Posing a threat to the top six.

Regardless of the cash that is spent in transfers and wages, the level of investment that is put in, or - to some extent - even the amount taken out of the club if that were to increase through dividends or other means, it is the football and West Ham's ability to compete that will dictate the scrutiny of their owners.

Over the next 10 years, if they are to remain for another decade, making fans feel that the London Stadium was worth it, beyond being listed in the top 20 of rich list that means little to them, remains the task at hand.








Replies - Newest Posts First (Show In Chronological Order)

Exiled In Surrey 10:16 Sat Jan 18
Re: Saturday newspapers (includes West Ham)
ted fenton 1:49 Sat Jan 18

Mex Martillo 4:46 Sat Jan 18
Re: Saturday newspapers (includes West Ham)
Thanks Alan
Yes, the dildos need to do much better or fuck off

Texas Iron 4:20 Sat Jan 18
Re: Saturday newspapers (includes West Ham)
Btw...
Piss poor Sullivan buying players...

Texas Iron 4:18 Sat Jan 18
Re: Saturday newspapers (includes West Ham)
Cheers...

ted fenton 1:49 Sat Jan 18
Re: Saturday newspapers (includes West Ham)
Thanks Alan 1:26 Sat Jan 18

Thanks Alan 1:26 Sat Jan 18
Re: Saturday newspapers (includes West Ham)
Thanks Alan





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