Let's All Laugh At... Let's All Laugh At West Ham

[spursfan77]

https://www.london.gov.uk/press-releases/mayoral/stadium-forecast-to-lose-24-million-in-2017-18

Basically what we all said was going to happen.

The best thing to do now would be just to suck up the losses and close the stadium. It will never make any money in its current state.

Its all in SC somewhere what happened when they were awarded the stadium. Coe, the LLDC, Newham Council, Robin Wales, Boris Johnson, the lot of them were either stupid or something a lot worse. Johnson was stupid to sign off on it but he was misled by Coe and the LLDC. They were the ones who stitched everyone up. The fact that Khan is blaming Johnson and none of the others isn't a surprise either. He's hardly going to prosecute them while they are all still in positions of power.

 

[Metalhead]

Tbh it's not him being an idiot. He's a very smart guy who acts a bit of the bufoon to gets votes. It's that he will do anything no matter the cost to gain power. He knew this would be a shit storm but didn't give a shit.

He is definitely not stupid but apparently he does not have an attention to detail, which in this case, would seem to be borne out by what has happened. According to the Evening Standard, someone who was speaking on behalf of him tried to palm off the whole issue on Livingstone and New Labour. I have no problem with them taking the blame for the stadium being suitable for athletics only but he needs to shoulder some of the burden of the aftermath where a football club (and a premier league one at that) has ended up with a ridiculously good deal that has placed a financial burden on a council (at a time when local authorities can ill afford unnecessary expense).

 

[spursfan77]

Does that mean that realistically West Ham could end up getting a deal whereby they can build a purpose-built football stadium on the land currently holding the London Stadium?

No. The track must remain for the rest of its 99 year lease. They can not build over that. Levy would have the THFC solicitors on it in seconds if they tried to rip up that agreement.

 

[Metalhead]

Basically what we all said was going to happen.

The best thing to do now would be just to suck up the losses and close the stadium. It will never make any money in its current state.

Its all in SC somewhere what happened when they were awarded the stadium. Coe, the LLDC, Newham Council, Robin Wales, Boris Johnson, the lot of them were either stupid or something a lot worse. Johnson was stupid to sign off on it but he was misled by Coe and the LLDC. They were the ones who stitched everyone up. The fact that Khan is blaming Johnson and none of the others isn't a surprise either. He's hardly going to prosecute them while they are all still in positions of power.

West Ham could ground share with Orient.

 

[spursfan77]

the whole process is so dodgy its unbelievable

Looking back at this it was so obvious something strange was going on at the time, let alone now.

http://www.spurscommunity.co.uk/index.php?threads/daniel-levy-article-in-the-evening-standard.70520/

 

[TheChosenOne]

It's all been said and the prophecies have become reality.

Will the 'right thing' be done ?

If doubt it, everyone claiming innocence and blaming others.

So glad we are on the periphery and Levy had the acumen.

 

[NinjaTuna]

They'd have to pay a huge amount to the others who use the stadium. Including probably building a new stadium for athletics. Also the value of the land. Without massive financial backing they wont be able to do it.
Personally i'd let e20 go bankrupt.

In your opinion, what happens to West Ham if E20 goes bankrupt? I'm not too clued up on this stuff

 

[NinjaTuna]

No. The track must remain for the rest of its 99 year lease. They can not build over that. Levy would have the THFC solicitors on it in seconds if they tried to rip up that agreement.

Levy's a fucking genius in that respect, totally dicked them over

 

[Lilbaz]

In your opinion, what happens to West Ham if E20 goes bankrupt? I'm not too clued up on this stuff

Tbh i'm not sure about the law regarding tennants when their landlord goes bankrupt. Especially for businesses.

 

[TheChosenOne]

In your opinion, what happens to West Ham if E20 goes bankrupt? I'm not too clued up on this stuff

I am hoping they will be playing on Hackney Marshes.

 

[spursfan77]

Levy's a fucking genius in that respect, totally dicked them over

I wouldn't call him a genius for doing that. I think a lot of sensible owners dicked off by the people I mentioned above would do the same thing. I suspect it was always the West Ham owners intention to demolish the stadium a few years down the line once the olympics hoo-ha had gone away and they made a fuss that it wasn't fit for purpose. All Levy did was what any sensible person at the time would do, and that was prevent that from happening. Ensuring the track remained was always the easiest thing to do.

But yes, by getting them to sign up to it and getting Johnson to give us £8 million of funding from the riots he did well. I don't think he came out of the whole Stratford mess looking good but the track issue definitely was his highlight thats for sure.

 

[montylynch]

I was working for the Olympic Executive at the DCMS throughout his whole tenure. The whole process was a farce from start to finish. Everything was over budget from the day we won the bid in 07.

I remember seeing DL come in a few times, with the porn barons and Brady for meetings. Levy would always leave with a smug look on his face.

 

[Led's Zeppelin]

Does that mean that realistically West Ham could end up getting a deal whereby they can build a purpose-built football stadium on the land currently holding the London Stadium?

The key criticisms is that the taxpayer has shouldered all the risk and got the raw end of the deal , to no one’s benefit other than West Ham.

If any new deal involving WHU is to be done I think you can be confident that it won’t be a bargain for them.

 

[robbiedee]

Its on the beeb as well now...

I'm no fan of Boris, but it can't be all his fault...there were so many other parties involved...including Mayor of Newham who seems to be very quick to absolve himself of any blame...

Still - West Ham - the comedic gift that keeps giving...never has a thread title been so appropriate

 

[nightgoat]

Looking back at this it was so obvious something strange was going on at the time, let alone now.

http://www.spurscommunity.co.uk/index.php?threads/daniel-levy-article-in-the-evening-standard.70520/

Yeah, but we didn't do it 'in the Queen's name'...

 

[robbiedee]

just read this on Sky Sports website...

A West Ham statement said: "As the report confirms, the Concession Agreement is a watertight, legally binding contract signed in 2013 in good faith by West Ham United, who remain absolutely committed to its terms for the entire 99-year duration.

"We have delivered everything we committed to within the Concession Agreement, and act as the primary vehicle for London Stadium's legacy, delivering its most-watched sporting spectacles, revenue-driving events and thousands of jobs for local people.

"It is not in West Ham United's interests for the stadium to not be performing in line with aspiration and, as we have done ever since moving to Stratford in the summer of 2016, we continue to offer the benefit of our commercial expertise and substantial experience in managing successful stadia.

"West Ham United will continue to devote our absolute commitment to London Stadium, but our first priority in this sense is always to act in the best interests of our supporters.

"We fully concur that West Ham United has played a significant part in the most successful regeneration programme in the history of the modern Olympics.

"However, the stadium itself craves renewed leadership and direction and we welcome the Mayor's decision to step in and deliver this. West Ham United is firmly behind him."

Liars, Liars, pants on fires...they cant help themselves can they.

 

[coys200]

So relegation and homeless. Couldn’t happen to a nicer bunch of people

 

[stevenurse]

Can't help but think this is all a bit pointless, despite being great to hear.

Realistically speaking, they have a legal agreement so for anything to happen would be an extremely protracted process and in all fairness, it's not their fault the previous decision makers were all complete morons. Whilst it's of course not ethically the best thing to have done to their 'fans', it's the best deal for the club/themselves which is what the dildo brothers sole concern would be.

If they were to be relegated then things might be looked at if they are getting 12k a week in that shithole...

 

[spursfan77]

Full report, which I suspect we could have written for free in 2011

https://www.london.gov.uk/sites/default/files/olympic-stadium-review.pdf

On the whole the accountants blame the LLDC. Khan doesn't say that once though does he? Cant score political points that way.

 

[mckenz]

This thread is better than football.