Where is the money?

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Re: Where is the money?

Postby Up the Junction on Thu Jan 11, 2018 3:35 pm

Marky wrote:Seriously how much will we have raised via transfers up to and including Payet?

Have a looksie here:

http://www.kumb.com/stats_transfers.php

chigwells finest wrote:kitted out by sullivan senior

By Mrs Sullivan - it's her place.
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Re: Where is the money?

Postby psychoscoredthelot on Thu Jan 11, 2018 3:41 pm

BUT how much did we pay up front on the transfers IN ??
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Re: Where is the money?

Postby 1mcavennie on Thu Jan 11, 2018 7:53 pm

What money?

Isn't it clear that GS&B sold the Boleyn cheap. All the money the club had went on paying off the old mortgage (a condition of the move), a £15m contribution to the conversion costs, £10 on building the new club shop plus some claret and blue bunting, £ms on legal fees and other related costs like Brady's bonus

What did that achieve - a 6.3% increase in match day revenue (I think we could have achieved more by adding 5,000 seats to the east side at the Boleyn)

Any extra money was going to come from improved commercial sponsorship, a share of stadium naming fights etc...

We are still on the same third rate sponsorship deals we had at the Boleyn

There is no money
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Re: Where is the money?

Postby Gerblatz on Thu Jan 11, 2018 8:14 pm

The club is a cash cow for wealthy people that bleed nothing but contempt for the fans affected by their actions. They are leeches....or are they? Who knows what goes on behind closed doors without our knowledge. They have enough money and contacts; what keeps them here when they could be focusing their energies elsewhere? I despise them for what they have done to our club and I am no board apologist, but things haven’t gone right all round with the way things are...due mainly to a very shoddy piece of business when this was negotiated. Way out of their depth and now we are seeing the fall out from it. They have a business plan and a profit plan...the business plan seems to have turned to ****; the profit plan (the con) has has been on target.

Everything is geared towards targets for profit....the football is a bi-product, which is why we won’t see no real investment unless we get relegated. In Moyes they have a manager that won’t want failure on his CV again.
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Re: Where is the money?

Postby hammers92 on Thu Jan 11, 2018 8:39 pm

Think I started a thread on this a year ago, and we’re back with the same thread again. I genuinely believe we could be finishing top 8 every year if our money was managed better (don’t laugh)
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Re: Where is the money?

Postby the pink palermo on Thu Jan 11, 2018 9:04 pm

1mcavennie wrote: What money?
A perfectly simple question .

1mcavennie wrote:There is no money
And a simply perfect answer .

The club has no cash, every penny has been committed to payment schedules for players signed yonks ago, to pay off agents, to pay players , and to pay loans back to Gold and Sullivan .

In my opinion they are getting ready to sell up , it may take a year or two but not much longer .In the meantime they will spend just enough to survive in the PL and not a penny more .

They've ripped the arse out of WHU , and still they get away with it .
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Re: Where is the money?

Postby MilkyBarKid16 on Thu Jan 11, 2018 10:40 pm

I'd rather the owners spent some money, but if you're going to try and get by by not spending, at least have a good enough recruitment team and scouting network to find bargains that turn good. That will give you the money to spend in the future.

The owners current plans seem to revolve around not spending much, but when they do, it's on average players. There isn't someone at the club who knows what they're doing, so they're throwing money away all the time. Sullivan is de facto Director of Football, which is an absolute embarrassment.
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Re: Where is the money?

Postby Galtech on Thu Jan 11, 2018 10:49 pm

the pink palermo wrote: Every penny has been committed to payment schedules for players signed yonks ago .


I heard a couple of weeks back, that we still pay a large chunk of Stewart Downing's wages each week!!

Although I wasn't shocked to hear this, as I recall him getting a long contract, can anyone confirm if this is true, and how much longer we have to pay him?


EDIT
According to: http://sportsmaza.com/football/west-ham ... -salaries/" onclick="window.open(this.href);return false;" onclick="window.open(this.href);return false;

We stopped paying him £33k a week last summer - a couple of years after he left!
Last edited by Galtech on Thu Jan 11, 2018 11:02 pm, edited 1 time in total.
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Re: Where is the money?

Postby smuts on Thu Jan 11, 2018 10:58 pm

Downing joined us in summer 2014 on a 4 year deal. From memory he asked to go didn't he?

Nothing surprises me though.
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Re: Where is the money?

Postby poplargeezer on Thu Jan 11, 2018 11:25 pm

smuts wrote:Downing joined us in summer 2014 on a 4 year deal. From memory he asked to go didn't he?

Nothing surprises me though.


Wasn't it part of the Carrick deal?
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Re: Where is the money?

Postby Claret&Blue,Thru& on Thu Jan 11, 2018 11:33 pm

jastons wrote:Where is the benefit in leaving Upton Park?

That is an equally important question.


Why not ask the 85% that voted for it?
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Re: Where is the money?

Postby Beige Belgian on Thu Jan 11, 2018 11:38 pm

1mcavennie wrote:What money?

Isn't it clear that GS&B sold the Boleyn cheap.


This bit I have never got. Businessmen who would know the price of land, no real rush or pressure to sell, lots of developers keen to buy. Why did they sell it cheap then?

Who owns it now? I believe it was sold and then sold straight again? Why?

Edited to answer part of my question, it was sold cheap, so there be would some sort of legacy there!

http://www.telegraph.co.uk/sport/footba ... -2016.html" onclick="window.open(this.href);return false;
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Re: Where is the money?

Postby taffhammer on Fri Jan 12, 2018 12:09 pm

So the club sold the Boleyn for millions less than it was worth just so there will be a plaque and a statue to remind people of what was once there. Two hundred yards away is a statue they they want to move as they say the statue no longer means anything to area its in.
So overnight the land became worth a lot more than they sold it for meaning whoever bought it is on to a winner and the club missed out.

Someone somewhere got a very good deal and it makes you wonder how a couple of shrewd buisiness men didn't get a slice of that............
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Re: Where is the money?

Postby DaveWHU1964 on Fri Jan 12, 2018 12:17 pm

Whatever else they are, our owners are not the fools and cretins as they are often described on here. They are businessmen who have made fortunes by seeing opportunities and making calculated decisions. If they sold the ground much more cheaply than seems to be the going rate then there was a sound business reason as to why they did so. That reason won't be of benefit to the club. It will benefit those they care about - themselves and their families.
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Re: Where is the money?

Postby pbenjy on Fri Jan 12, 2018 12:29 pm

taffhammer wrote:So the club sold the Boleyn for millions less than it was worth just so there will be a plaque and a statue to remind people of what was once there. Two hundred yards away is a statue they they want to move as they say the statue no longer means anything to area its in.
So overnight the land became worth a lot more than they sold it for meaning whoever bought it is on to a winner and the club missed out.

Someone somewhere got a very good deal and it makes you wonder how a couple of shrewd buisiness men didn't get a slice of that............


I'm sure its all completely above board and legitimate, but Galliard Homes (based in Loughton) subsequently sold the land on to Barratt London.
https://www.propertyweek.com/resi/barratt-buys-upton-park-ground-from-galliard/5084500.article
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Re: Where is the money?

Postby taffhammer on Fri Jan 12, 2018 1:05 pm

So can anyone confirm how much we sold it for and then how much Barratt then paid for it ?
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Re: Where is the money?

Postby pbenjy on Fri Jan 12, 2018 1:59 pm

taffhammer wrote:So can anyone confirm how much we sold it for and then how much Barratt then paid for it ?

I hope that is the sort of question that the Real West Ham Fans Group will be asking when they meet the board!
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Re: Where is the money?

Postby DM on Fri Jan 12, 2018 2:15 pm

'Galliard appeared on BBC One's The Apprentice in December 2015, with contestants trying to sell off-plan apartments at The Printworks in Clapham'

Quote from Wikipedia?
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Re: Where is the money?

Postby Walter on Fri Jan 12, 2018 2:25 pm

taffhammer wrote:So can anyone confirm how much we sold it for and then how much Barratt then paid for it ?


The amount Barratt paid will be shown at Land Registry, but you might not be able to see if they have some sort of profit share with Galliard (an overage based on future sale proceeds for example). Someone on the Gold & Sullivan thread said £40m a couple of months ago I think. How much we sold it for will be clear when they publish the May 2017 accounts. The May 16 accounts just said in the post balance sheet events note that it was sold in July 2016 and we made a profit of £8m, It was reported as "up to £35m" in the Guardian at the time, but take that with a pinch of salt.
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Re: Where is the money?

Postby hamagram on Fri Jan 12, 2018 2:57 pm

I think you need to go back to 2014 and the charge placed upon the Boleyn and follow the shareholders and balance sheets of the company/ies involved for an answer.
My amateur conclusion would be: The ground was sold for 40mil, much of which had already been spent propping up the club between 2014-2016, it was then 'sold/transferred' with an attached value of around 60mil.
Really need Pinky to take a look. 8-)
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