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

spursfan77

Well-Known Member
Joined
Aug 13, 2005
Messages
13,816
I don’t feel sorry for their fans, but my god, their owners are screwing them for every penny.

There doesn’t seem to be a single paper talking about the interest payments though. You expect at least one of them to mention it saying how many hammers there are in the press.

Edit: I guess they could be saving that part for if they get relegated. Would look even worse if they went down.
 
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michaelden

Knight of the Fat Fanny
Joined
Aug 13, 2004
Messages
20,474
After seeing those accounts, I really do believe they are ready to sell, even probably in talks. I have seen it in the business world, strip it, make it look good, sell it. There is no long term strategic plan, it is all about today.

If that is not their plan, then **** me they are ****ing up big style
 

michaelden

Knight of the Fat Fanny
Joined
Aug 13, 2004
Messages
20,474
E20 say they have not yet been paid a penny by the club for the annual usage fee for last season.
So we're behind on our rent?

Please kick us out
They’re already going to court - according to the London assembly YouTube video posted recently.

It would appear that we can add E20 to the ever growing list of clubs/companies pissed off with GSB.

Levy, E20, Leicester, Sporting Lisbon, Marseille ....... plus I’m sure there’s plenty others that haven’t come to light.

__________________________________________________________

Here's what rich people do.

They turn up at a basket case.

They save it by putting their money in.

They take a calculated gamble on the medium to long term that they will get their money back.

Barring a spectacular melt down, the money (more correctly, the loans) they put in is never lost. It pays them 4-6% per year interest.

Periodically they de-risk their loans by taking out payments to reduce the money they are owed.

Meanwhile, the asset they now own has increased in value so they will get even more money back when they sell it.

The danger is that the main source of the income to the thing they own is dependent on it being in the Premier League. It is in their interest to invest enough to ensure that happens.

But getting their money out sometimes takes primacy over investment. At the end of the day their money is too important to them to leave in the asset. They gamble that they have just invested enough to keep the gravy train going. Ironically, where they end up in the league (except maybe in the Top 4), does not make a lot of difference to the financial position. 17th is good enough.

They say that they want to be right at the top but ultimately the business model says that 17th is good enough.

The man that has the most to lose by virtue of the greatest equity (ownership) is also in total charge of the player signings. He calculates what is the minimum that can be invested to get 17th +.

They know that they will never compete with those that have the money to spend on investment (and can take the burden of pumping in hundreds of millions), so ultimately and probably quite correctly they don't try. They instead look at Leicester and think that maybe they will get lucky and defy the odds.

Meanwhile, the fans do not understand the business model. All they see is a lack of investment in the club and think that more cash should be splashed. Look at the evidence of the signings. It aint ever gonna happen to any great degree under the business model.

And that my friends is why ultimately you cannot rely on Karren's letter. Karren is the enforcer of the business model; this is as good as it's going to get unless a once in a 50 year event like Leicester happens.

The only way to get a different approach is to find someone else with a different business model.

These people are rare.
 

DJS

Smacks of villainy
Joined
Dec 9, 2006
Messages
23,280
Another new badge??? :ROFLMAO::ROFLMAO:

Maybe they'll lose the prentious london part of the badge...

And they’re digging up more 1966 stuff to display in a museum, crikey they hang onto that!

They need to un-retire the number 6 shirt as well as it’s nonsence retiring shirts permanently IMO - retire if for a season in tribute but then let someone else have a chance of giving glory to the number.

Like at spurs with our number 10 shirt.
 

Armstrong_11

Spurs makes me happy, you... not so much :)
Joined
Aug 3, 2011
Messages
6,350
Another new badge??? :ROFLMAO::ROFLMAO:

Maybe they'll lose the prentious london part of the badge...
I actually think having London there is actually good for the "brand"

Before the invention of the internet... I never knew west ham was a London based team.

I always thot that west ham is place that's located northwest of Southampton and SouthWest of Northampton. I knew football teams from CM (the original one on floppy disk) but no idea about locations.
 

Armstrong_11

Spurs makes me happy, you... not so much :)
Joined
Aug 3, 2011
Messages
6,350
Oh yes and I recently learn that...

West ham is near the east end.

:banghead:

U know how bloody confusing stuff like that is for someone not from the UK?
 

montylynch

Fandabeedozee
Joined
Jun 23, 2005
Messages
4,981
So you can go to Southend, you can go to the East End, you can even go to the West End....

But you've got to go all the way to Preston for Northend.......

Quiet day eh.....!!
 

Lilbaz

Just call me Baz
Joined
Apr 1, 2005
Messages
31,204
So you can go to Southend, you can go to the East End, you can even go to the West End....

But you've got to go all the way to Preston for Northend.......

Quiet day eh.....!!
South end is east of london and the west end is in central london. Preston is outside london (we don't talk about outside of london, there be dragons).
 

mano-obe

Well-Known Member
Joined
Mar 2, 2005
Messages
2,547
Hate them. I'm glad the owners are collecting all the coin. Their fans are absolute gobshite. They got deal of the century and really should be pushing for top 4. I love the way they sign players like Zabaleta and Evra, paying them the same coin as some of our top earners. The mis-management and ineptitude is brilliant. I'd love it if they got relegated but should have enough to get them over the line
 

montylynch

Fandabeedozee
Joined
Jun 23, 2005
Messages
4,981
Their run in is shocking, they still have Chelsea arsenal and City, plus some tricky away games. Shame West Brom are already gone as now it's only 2 teams......

With what's going on off the pitch as well... The dream could come true.
 
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