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Sullivan's mode of investing in West Ham familiar?

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I want Hammers for free!

DAVID SULLIVAN has demanded a FREE 50 per cent stake in West Ham - in return for saving the club.

The former Birmingham City supremo stepped in with an astonishing take-it-or-leave-it offer to the Hammers'' cash-strapped owners.

Sullivan desperately wants to rescue his boyhood idols - but is not willing to shell out for a club that is sinking underneath crippling debts of at least £120million.

So he has told West Ham''s Icelandic owners Straumur he is willing to invest around £40m of his own money to help re-build the club - so long as they ship out and leave him in charge.

An insider explained: "Mr Sullivan is deadly serious about wanting to rescue the club.

"But West Ham''s debts are frightening and nobody in their right mind would take on such a nightmare.

"So he''s come up with an ingenious plan.

"He basically told Straumur: ''I''ll turn this club round, I''ll make it profitable and healthy but only if you give me a 50 per cent stake right now and leave me to run the ship with my people''.

"He then wants Straumur to disappear and leave him to turn the club around.

"They''d still be responsible for the debt but he''d inject £40m re-building West Ham.

"None of that money would be wasted on re-paying bad debts.

"There is no room for negotiation. If they reject his plan he''ll look elsewhere."

Sullivan has money in his pocket after selling his 24 per cent stake in Birmingham to Carson Yeung for around £20m.

The businessman, who helped to transform Birmingham from a run-down League One club into a thriving Premier League concern, delivered his plan to Straumur two weeks ago.

Read more: http://www.thesun.co.uk/sol/homepage/sport/football/2734836/Sullivan-I-want-Hammers-for-free.html#ixzz0XBLSgx5i

OTBC

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He didn''t get rich by being stupid. Fantastic offer. Gives the current owners a chance to cut their losses and run. If their debt is still increasing, probably a good option.

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Puts himself in a win-win situation.

If they say "yes, he gets what he wants, and, after how he turned Birmingham around, have no doubt he''ll do it at Upton Park as well, on his terms.

If they say "no", he''s made the effort, he has offered himself up as the saviour, he looks good, willing, and able to help, but has been turned away-and hasn''t lost a penny because of it.

Clever bloke.

Might also put to bed the chance of him coming here, as (a) would you want someone in charge who might always be looking for an opportunity to move to his real footballing love, and (b) He clearly invests on his terms, where-as Delia and MWJ only allow investment on their terms, so thats a no-no.

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The test of whether it is a ''fantastic offer'' will be whether they accept or not.  If it is indeed a fantastic offer I''m sure they''ll accept it - if it is in reality just a terrible offer accompanied by a concerted campaign of media spinning (this article was clearly planted by the Sullivan camp) to try and apply pressure to the current owners they''ll almost certainly reject it.

 

Time, as always, will tell... 

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If the word chutzpah didn''t exist someone would need to invent it for this. The equivalent of asking someone to hand over the ownership of a house so you can move in. Only you don''t pay the massive mortgage - the now-homeless owners keep on doing that. Close to genius.

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[quote user="Dr. Ink"]He didn''t get rich by being stupid. Fantastic offer. Gives the current owners a chance to cut their losses and run. If their debt is still increasing, probably a good option.[/quote]

 

If you think this is a fantastic offer I would hate to consider what you would think is an OK offer. A slap in the face and stealing their wallet?

This deal means Sullivan gets to control West Ham, but doesn''t pay off their wacking great big debt, which will still have to be serviced by the club. The current owners don''t get to "cut their losses" as they are still in ownership of 50% of the company. Basically the owners get nothing and lose control of the club, but not the risk.

It is one thing the drag a club up a couple of divisions with good management and investment it is a much more difficult job to overturn a crippling debt and keep the club in the top-flight. Living in East London I know a lot of Hammers and the feel this offer is a joke, much like many Norwich fans did with Cullum''s attempt.

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When are people - including Delia and Michael - going to realise that unless your club is Liverpool or Man U, it is basically worthless.

It is just a local business that will always lose money but survives due to sentimental reasons.

Norwich City is worth £0; Cullum was spot on.

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[quote user="Puzzy magnet "]

When are people - including Delia and Michael - going to realise that unless your club is Liverpool or Man U, it is basically worthless.

It is just a local business that will always lose money but survives due to sentimental reasons.

Norwich City is worth £0; Cullum was spot on.

[/quote]

Liverpool are £350m in debt, Man Utd £600m.

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[quote user="Mustachio Furioso"]Yet another thread by the serial offender that should be in "other football".[/quote]

You know very well what the relevance is.

What''s up? You don''t want it discussed? Too close to home?

OTBC

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[quote user="BlyBlyBabes"]

[quote user="Mustachio Furioso"]Yet another thread by the serial offender that should be in "other football".[/quote]

You know very well what the relevance is.

What''s up? You don''t want it discussed? Too close to home?

OTBC

[/quote]

 

What is the relevance? The article is about WHU?

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[quote user="Mustachio Furioso"][quote user="Puzzy magnet "]

When are people - including Delia and Michael - going to realise that unless your club is Liverpool or Man U, it is basically worthless.

It is just a local business that will always lose money but survives due to sentimental reasons.

Norwich City is worth £0; Cullum was spot on.

[/quote]

Liverpool are £350m in debt, Man Utd £600m.

[/quote]

Yes, but they are worldwide brands that are "worth money". Norwich City is a heavy-loss making local business. If it was a corner shop it would have been closed long ago. Man U turn a profit every year; we don''t.

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Norwich City will, most likely, never make anyone any money.

Football is an indulgence, the bigger you are, the bigger the debt. The big clubs survive because their future turnover secures the debts.

If Liverpool fail to qualify for the Champions League for next season, they will be in more than a spot of bother, as their debts are very much secured on future income from that competition, in all of its guises. They might not do a Leeds, but it won''t be pretty.

However, as they are Liverpool, they could finish 5th, 6th, 7th, anywhere but the top 4 and still sneak their way in for the following season somehow, I anticipate, sooner or later, UEFA will announce that the "top clubs" (as defined by, yes, the "top clubs"!) will announce an immunity from having to qualify for the Champions League.

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[quote user="Old Shuck"]Norwich City will, most likely, never make anyone any money. Football is an indulgence, the bigger you are, the bigger the debt. The big clubs survive because their future turnover secures the debts. If Liverpool fail to qualify for the Champions League for next season, they will be in more than a spot of bother, as their debts are very much secured on future income from that competition, in all of its guises. They might not do a Leeds, but it won''t be pretty. However, as they are Liverpool, they could finish 5th, 6th, 7th, anywhere but the top 4 and still sneak their way in for the following season somehow, I anticipate, sooner or later, UEFA will announce that the "top clubs" (as defined by, yes, the "top clubs"!) will announce an immunity from having to qualify for the Champions League.[/quote]

I get where you''re coming from Old Shuck but I doubt UEFA will do that anytime soon. At the moment it seems they are distancing themselves from the way football clubs are run in this country. It seems they are more likely to impose penalties than give immunities. And the great G8 seems to have bit the dust too. It seems it''s only our FA who are in the big clubs pockets.

 

 

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[quote user="Old Shuck"]Norwich City will, most likely, never make anyone any money. Football is an indulgence, the bigger you are, the bigger the debt. The big clubs survive because their future turnover secures the debts. If Liverpool fail to qualify for the Champions League for next season, they will be in more than a spot of bother, as their debts are very much secured on future income from that competition, in all of its guises. They might not do a Leeds, but it won''t be pretty. However, as they are Liverpool, they could finish 5th, 6th, 7th, anywhere but the top 4 and still sneak their way in for the following season somehow, I anticipate, sooner or later, UEFA will announce that the "top clubs" (as defined by, yes, the "top clubs"!) will announce an immunity from having to qualify for the Champions League.[/quote]

I get where you''re coming from Old Shuck but I doubt UEFA will do that anytime soon. At the moment it seems they are distancing themselves from the way football clubs are run in this country. It seems they are more likely to impose penalties than give immunities. And the great G8 seems to have bit the dust too. It seems it''s only our FA who are in the big clubs pockets.

 

 

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[quote user="Old Shuck"]Norwich City will, most likely, never make anyone any money.[/quote]

On that basis I believe the club should be made available for £0, for anyone that can pay off a bit of the debt and finance some new players for Lambert.

To quote Cullum £55m was absurd.

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[quote user="Puzzy magnet "]

[quote user="Old Shuck"]Norwich City will, most likely, never make anyone any money.[/quote]

On that basis I believe the club should be made available for £0, for anyone that can pay off a bit of the debt and finance some new players for Lambert.

To quote Cullum £55m was absurd.

[/quote]Would you in that same position do the same though?

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[quote user="BlyBlyBabes"]

[quote user="Mustachio Furioso"]Yet another thread by the serial offender that should be in "other football".[/quote]

You know very well what the relevance is.

What''s up? You don''t want it discussed? Too close to home?

OTBC

[/quote]

Well for the umpteen millionth time, why don''t you just explain yourself properly instead of trying to be so enigmatic and superior? Oh, I see, the answer''s in the question [:)]   

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I don''t why Sullivan gets so much praise for the job he did at Birmingham. What exactly has he accomplished? They are a yo-yo premiership team with a dwindling support base. Thats all he has managed in 20 years. Better than we''ve done granted, but he is hardly so genius miracle worker!

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Most of his key work at Birmingham was done in the nineties and up to about 2002/3 - there weren''t so many millionaire-owned clubs then (and player wages were much lower) so his job was much easier (and took a lot less money) than he''d find it would to do the same thing now.  Presumably another of the reasons West Ham are so attractive - not only are they his fave team but they are already in the Prem (although given the details of his proposed ''deal''  for them he unfortunately doesn''t actually seem to have enough money to buy an existing debt-ridden Prem level club)

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[quote user="Say Hello To The Angels"]I don''t why Sullivan gets so much praise for the job he did at Birmingham. What exactly has he accomplished? They are a yo-yo premiership team with a dwindling support base. Thats all he has managed in 20 years.

Better than we''ve done granted, but he is hardly so genius miracle worker!
[/quote]

Took them from the third div to top flight. In the same period we did the reverse.

yeah, don''t know what the fuss is about...at least we get 25k crowds when it''s kids for a quid eh!

When we are in admin in league one next year - with a points penalty - sitting in the bottom 4 - maybe people won''t be quite so sniffy. wake up.

we. need. money. NOW

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[quote user="Puzzy magnet "]Nope. Bumping the share price up was very greedy IMO. You''d almost think she didn''t want to sell...[/quote]So are you saying in Delia''s postiiton you wouldnt accept £0 for your shares?

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[quote user="Mustachio Furioso"]Yet another thread by the serial offender that should be in "other football".[/quote]

Who elected you as Chief of Forum police?

I suspect it was a self election with just one voter![:S]

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[quote user="Teds Spunk"][quote user="BlyBlyBabes"]

[quote user="Mustachio Furioso"]Yet another thread by the serial offender that should be in "other football".[/quote]

You know very well what the relevance is.

What''s up? You don''t want it discussed? Too close to home?

OTBC

[/quote]

Well for the umpteen millionth time, why don''t you just explain yourself properly instead of trying to be so enigmatic and superior? Oh, I see, the answer''s in the question [:)]   

[/quote]

To be fair to Bly (I know it''s difficult [;)]) I think it''s pretty obvious what the relevance is on this occassion.

1) There have been plenty of rumours that Sullivan could be interested in buying NCFC.

2) On the face of it the way he is attempting to take charge of West Ham seems remarkably similar to the way Peter Cullum tried to take over NCFC. Obviously we''re short of the exact details but in terms of the way the story has been broken to the press it looks almost identical.

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