Come here to laugh at West Spam

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be interesting..one would assume that, as with most assets, its would be sold off to pay debts.
Unless its offered directly to spam, i cant see them being able to outbid too many for it

and (Im not a property Lawyer, so would i have no idea), in the even of the holding company going bust, and someone else buying the stadium, would their lease still be be valid

Any new owner has to take on the West ham 100 lease, it comes with the stadium.
 

SouthStand Billy

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I've done a little reading on this and as far as I could see westham is legally binding and with the Mayor's office while the athletics is with lldc.

If lldc London still needs to provide the stadium or they are held liable.
That is true, but given the current circumstances Athletics could be re-housed and supported as per the current agreement.
The Government simply cannot continue to lose 30m per year for the sake of a football club, or bung out a massive chunk for someone to take it off their hands.
It realy is at breaking point.
 

That is true, but given the current circumstances Athletics could be re-housed and supported as per the current agreement.
The Government simply cannot continue to lose 30m per year for the sake of a football club, or bung out a massive chunk for someone to take it off their hands.
It realy is at breaking point.
I get that but I don't see any way out without paying West Ham 100m + to get out of the contract. Even if the company go broke the agreement is with the city of London.

I am not a lawyer or anything but that's what I get from what I have read.
 

SouthStand Billy

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I get that but I don't see any way out without paying West Ham 100m + to get out of the contract. Even if the company go broke the agreement is with the city of London.

I am not a lawyer or anything but that's what I get from what I have read.

I think in a normal world, i'd agree, but I think they could use the current situation as a get out clause as tax payers, or more closer to home Londoners, need the money elsewhere, if they continue giving West ham hand out after hand out, there will be uproar from the businesses that are on the verge of insolvency.

I think their best option is to say, lets pull the plug and face the consequences after. Who would go against the government if they did that? It's more of a necessity than a decision now.

They owe it to the country as a whole and say up yours to a football club.
 

SouthStand Billy

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It was only 12k but West ham (not the owners the company) donated to the Tory party around the time of the contract agreement.


Either Brady fucked over their lawyers or something a little more dodgy.
It was also very much to do with Sir Robin Wales who was mayor at the time and funnily, also a season ticket holder at West Ham for many years.
 

SouthStand Billy

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My BF worked for Newham Council when Wales was mayor, and he hasn't got a good word to say about him - one dodgy geezer by all accounts.
How Karren Brady got a title out of all this beggars belief.
I have a fair idea....


The whole involvement of Wales was unbelievable, and at the time made my blood boil, but it all turned out for the best and I thank him for his involvement, otherwise they would never have the Athletic bowl.

I can see something very big happening to that club in the near future. That 29m loss and this years predicted figures are going result in some pretty high end decisions.
 
My BF worked for Newham Council when Wales was mayor, and he hasn't got a good word to say about him - one dodgy geezer by all accounts.
How Karren Brady got a title out of all this beggars belief.
Newham Council have been a corrupt mess for years. If anyone wants to venture there you will see the absolute dump it has become. 1 in 24 people are homeless, it is quite a sight. I have met Rokhsana, the new mayor, who seems like a genuine person. If anyone is interested in a particular example of cronyism they should lookup Newham and LOBOs. It is a scandal which went under the radar, mainly because councils didn't to make a big fuss about it.
I went to a Newham council meeting once and it was exactly like Pars and Rec...
 
It was also very much to do with Sir Robin Wales who was mayor at the time and funnily, also a season ticket holder at West Ham for many years.
I thought Newham underwrote a loan, nothing to do with agreement on the other side which was the Mayor's office?

David conn has done a number of articles, (ignore the politics if desired) this has a lot of the detail.

 

SouthStand Billy

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I thought Newham underwrote a loan, nothing to do with agreement on the other side which was the Mayor's office?

David conn has done a number of articles, (ignore the politics if desired) this has a lot of the detail.


The £40m loan from Newham council, was put to the vote. Robin Wales was not allowed to vote but had the overall decision as mayor of Newham, which makes a mockery of the system and many Councillors opposed the loan due to the many gifts Wales received from West Ham,
That money should have been used elsewhere in one of the poorest parts of London.
 
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It was only 12k but West ham (not the owners the company) donated to the Tory party around the time of the contract agreement.


Either Brady fucked over their lawyers or something a little more dodgy.
I now have another reason why I hate the pikey bastards so much.
 
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