Is West Ham's debt being cleared due to the Stadium sale...
So they will have minimal assets but will be debt free?
Correct me if I am wrong.
So they will have minimal assets but will be debt free?
Correct me if I am wrong.
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Thanks for info YD, it's good to see some updated comparisons with other clubs.
We remain well adrift of the 'big 5' in terms of income, so I can't see us catching them on the pitch anytime soon.
ENIC have done well on the financial front, but until we see another trophy in the cabinet sometime this decade I won't be happy with them. Naturally, I'm pleased about the stadium progress, but 14 years under ENIC (and counting) with no increase in capacity has hurt us badly, and they have a lot of making up to do on that front.
We remain well adrift of the 'big 5' in terms of income, so I can't see us catching them on the pitch anytime soon.
ENIC have done well on the financial front, but until we see another trophy in the cabinet sometime this decade I won't be happy with them. Naturally, I'm pleased about the stadium progress, but 14 years under ENIC (and counting) with no increase in capacity has hurt us badly, and they have a lot of making up to do on that front.
I doubt selling that dump of a stadium and the ground around could amount to a 100 million but I'm not an expert on London real-estate, anyone got trustworthy data on that?
I don't disagree at all. My point is that whenever there is a discussion about spending a bit of money someone says oh well we don't want to do a Leeds. It's so asinine considering our situation of having zero debt and also the massive revenue streams that the Premier League has now. It is very unlikely we'll ever see that happen to another team again, let alone one of our size. That doesn't even take into account how well we are run. We could have a +50m net spend this and we wouldn't even be in the same galaxy of "doing a Leeds". But someone will bring it up this summer, I guarantee it.
It's like bringing up Hitler anytime a tin pot third world dictator starts making a bit of trouble.
But....but...no net spend....we need to be in debt like the others....no stadium either waaaaaaaaaahhhhhh
I voted no in the poll. The fact we are the only club alongside Burnley to have no debt makes Levy`s strategy of refusing to strengthen the squad in consistent transfer windows even more difficult to accept. Cunt
Edit: Actually Burnley do have a debt of 8million quid. Cunt.
Edit: Actually Burnley do have a debt of 8million quid. Cunt.
SWANSEA TUT TUT WITH YOUR NAME BOYO !!!!!!!!!!!
Oh Well, I suppose when we finish the season empty handed, outside the top 4, and Levy sells Lloris for another tidy profit, and opposing fans ridicule us as a selling club who constantly fail to deliver, we can hit back with the killer punch that at least we won the Debt Free Trophy
Fuck Yes. How could I get that wrong. Swansea it is
"debt free trophy " awarded by the school of Faginomics .
Is that the only one the messiah Bill Nick didn't win ?
Is that the only one the messiah Bill Nick didn't win ?
So when does Fair Play kick in???? :townhmm:
ochsulk:it's not as catchy
And now we come to the National final of the Financial Fair Play League...
Tottenham Hotspurs vs Swansea.
Both teams sheets are looking very impressive coming into this game
The expectation builds as the accountants take to the field and we prepare to take a minutes silence for the cancellation of the bic biro that has finally ceased manufacture.
And now the Captains meet at the Oval table and they prepare to schedule meetings and toss the pencil.
The Ombudsman tosses the pencil and ... the pointy end goes to Spurs and they choose to file their papers first.
The brown envelopes are handed out and the Accountants head back to their team.
This is going to get tense!!!!
Who wins?!? Coming in the next exciting installment of the financial fair play league
Tottenham Hotspurs vs Swansea.
Both teams sheets are looking very impressive coming into this game
The expectation builds as the accountants take to the field and we prepare to take a minutes silence for the cancellation of the bic biro that has finally ceased manufacture.
And now the Captains meet at the Oval table and they prepare to schedule meetings and toss the pencil.
The Ombudsman tosses the pencil and ... the pointy end goes to Spurs and they choose to file their papers first.
The brown envelopes are handed out and the Accountants head back to their team.
This is going to get tense!!!!
Who wins?!? Coming in the next exciting installment of the financial fair play league
Lol at Chelsea's description. 600million more in debt than anyone else yet for them its "players such as fabregas and Costa have turned the club into a powerhouse on the pitch" no fucking mention of their billion debt whilst clubs with 1/9 of that are getting slammed
Whilst any improving finances are good - our change is really an accounting procedure imo.
We had Bale at a book value of c. £1m replaced with players with a book value of c.£90m
We had Bale at a book value of c. £1m replaced with players with a book value of c.£90m
Good question.
Answer almost certainly is that it won't be clear cut. The worst affected clubs will doubtless work to 'get round it' in a legal way.
A good indicator of FFP kicking in would be if a team outside the 'big 5' won the Prem or CL. I can't see that happening any time in the next 5 years. While teams outside the cartel aren't winning either of the 'big 2' trophies, then FFP is going to look pretty hollow I suspect.
In fact I'll go further, I don't see any English team outside the big 5 even finishing top 2 or getting to a CL final in the next five years. Teams like us and West Ham may dream our dreams, but seriously we're way off the pace, West Ham far more so than us of course.
Maybe within the next ten years our new stadium may turn us around sufficiently to break the cartel. Maybe West Ham will win the lottery again with new City/Chelsea-style owners, having already won the lottery once with a cut-price stadium at the taxpayers. Maybe maybe maybe...
