The Owners

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Comments

  • YeoldhammerYeoldhammer
    they simply are not going to recuperate 750 million. not even half that. they would be lucky to get anything north of 150 - 200m
  • OutcastLondonerOutcastLondoner
    What was the original deal when we were going to buy the stadium?
  • IronHerbIronHerb
    We offered £50m they wanted £400m so we upped to £55m. 😂
  • PrestonHammerPrestonHammer
    55m spread over 6 years.
  • MrsGreyMrsGrey
    IronHerb said:

    We offered £50m they wanted £400m so we upped to £55m. 😂

    See, it works :)
  • DeanscaleshammerDeanscaleshammer
    I could see the GLA looking to sell in time. Selling an asset that regularly shows a loss in the accounts is likely to be a consideration for them. We are the sitting tenants on a long lease.
  • buffybegoodbuffybegood
    Deanscaleshammer said:

    I could see the GLA looking to sell in time. Selling an asset that regularly shows a loss in the accounts is likely to be a consideration for them. We are the sitting tenants on a long lease.

    For sure, why keep an asset that costs you money whilst providing very little in return to the community as a whole that is funding it?
  • WhitehorsehammerWhitehorsehammer
    It is only a matter of time before the GLA can no longer go on loosing £20/30m a year of tax payer's money. The build and conversion costs can never be recovered and the losses will need to be written off as part of the cost of hosting the 2012 Olympics. It would make little sense for anyone else to buy it because they would be in the same position as the current owners. But for West Ham (G&S etc) it is a completely different scenario, with the freehold bought they can choose to surrender the existing lease, it is then a whole new set of rules. Some may suggest that G&S would grant a new lease at a much higher rent which immediately greatly increases the value of the property. Alternatively it may make the club more saleable as they could say to a buyer its x millions for the club but you can also buy the freehold of the stadium for y. Whoever negotiated the lease from the tenants side did a very good job as this is potentially a massive property deal.
  • claretandblueskyclaretandbluesky
    Looking at it that way it would appear only a matter of time before GLA cave in and accept they must sell to the only viable buyer, this being the sitting tenant, whom will be able to pick it up at a fraction of it's cost as they are the only bidder. Which then leaves them with a very valuable asset to sell on as the club.
  • IronHerbIronHerb
    But the sitting tenant is apparently broke.
  • WhitehorsehammerWhitehorsehammer
    Raising finance should not be an issue for such an opportunity.
  • Expat_HammerExpat_Hammer
    edited July 2021
    Wouldn't it be great if the consortium bought the gaff and the upped the rent to G&S to force a sale

    Mawhahahaha >:)
  • ASLEFshruggedASLEFshrugged
    edited July 2021
    To repeat for those not quite in tune with mega finance

    In 2019/20 TfL lost £400m although that was an improvement on 2016/17 when it lost £1.5bn

    The London Stadium losing £20m - £30m a year isn't that big a problem

    Selling the stadium for less than it cost would be a huge political disaster for the Mayor of London especially when the Mayor of London who did the deal with West Ham is currently the Prime Minister and TFL want the Tory govt to give them a new funding deal

    This isn't about finance, this is politics
  • IronHerbIronHerb
    Only £20m a year. So over the duration of the lease that will ONLY be £2b. Now that's mega.

    It will be sold in the not too distant future imo, politics or no politics.
  • WhitehorsehammerWhitehorsehammer
    ASLEF. I understand your point but is Johnston not well trained by Cummings that if you ignore a political embarrassment for a couple of weeks the media will get bored and move on to something else. I think running a transport system for a major city and the losses that may make is in a different league to a one off project. Politics will play a part but ultimately the financial arguments will prevail.
  • WhitehorsehammerWhitehorsehammer
    Expat. If the consortium (or anyone else) bought the freehold they could not put up the rent or change any terms of the lease. That could only happen if the landlord and tenant were the same. That is why the owners are in such a strong position.
  • MrsGreyMrsGrey
    Whitehorsehammer said:

    ASLEF. I understand your point but is Johnston not well trained by Cummings that if you ignore a political embarrassment for a couple of weeks the media get bored.

    Surely Boris didn't need to be taught by any aide. He has known this since forever... This, and how to deflect and distract. It's why he has achieved what he has. That's certainly not through being competent.

  • WhitehorsehammerWhitehorsehammer
    Mrs Grey. I agree Boris Johnson has always had that ability but perhaps fine tuned to the highest level by Cummings.
  • FortuneseekerFortuneseeker
    https://www.kumb.com/article.php?id=44054

  • ASLEFshruggedASLEFshrugged
    Fortuneseeker said:

    https://www.kumb.com/article.php?id=44054

    Well that's five minutes of my life I'll never get back. What a load of utter nonsense
    Most seasons we do not have much of a budget despite the club really needing key areas filling. The only time there was major investment was when Gold and Sullivan were scared following the Burnley protests and now we are constantly reminded of how that spend has hurt the club, and is used as a weapon on why we lack funds.
    Burnley protest was 10 March 2018, the following summer we hired Pellegrini as manager.

    Does Johnny C really think that the Burnley protest prompted S&G to give Pellegrini the transfer funds to sign Yarmolenko, Anderson, Diop, etc? The following season Pellegrini splashed the cash on Haller and Fornals, was that also prompted by the Burnley protest over a year before?

    Truly delusional.
  • MrsGreyMrsGrey
    https://www.whu606.com/discussion/11431/pai-capital-potential-takeover

    Please use that thread for the PAI comments :-)
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