West Ham’s rent doesn’t even cover match day costs

Chat about anything football related here!
User avatar
HammerJammer
Posts: 485
Joined: Sat May 28, 2016 8:16 pm

Re: West Ham’s rent doesn’t even cover match day costs

Post by HammerJammer » Fri Sep 07, 2018 3:50 pm

The stadium company is obviously a loss-making concern that is unsustainable in the long term.

Things get interesting if the stadium company files for voluntary liquidation. West Ham United would then be the main creditor, seeking specific performance of the remainder of a 99-year lease or equivalent financial compensation. There is also the Olympic legacy commitment, which is presumably built into planning regulations governing use of the site and affects the political credibility of national representatives submitting bids for other high profile international events.

It seems likely that the stadium would have to be sold to pay off a claim of this size, but who is going to offer to buy it for more than the cost of providing West Ham United with a stadium of comparable size at a peppercorn rent for nearly a century?

The only buyer to whom this would make any financial sense at all is West Ham United itself.
0 x
Image
Click here and enter 21212 to block the TottenScum Troll

User avatar
Neville Bartos
Posts: 2697
Joined: Sun Jul 31, 2016 2:29 am
Location: Flyyyyyyyyyin'
x 1

Re: West Ham’s rent doesn’t even cover match day costs

Post by Neville Bartos » Fri Sep 07, 2018 7:55 pm

The LLDC are fucked. The lease is watertight, so I don't see where playing stupid games gets them.
If they can save £7m off of an £11m bill for moving the seats, what kind of cowboys have been in charge up to now? The same goes for turning down a £350k cover for the track because it's 'a drop in the ocean'.
And how on Earth have the naming rights not been sold? Even if it was for £500 a year to the local chippy it would be something.
As far as I can see the incompetence is showing no signs of abating as far as the stadium operators are concerned.

The whole stadium saga is an advert for a Boris Johnson run Great Britain. Be fucking warned. :D
0 x
Communism deprives no man of the power to appropriate the products of society; all that it does is to deprive him of the power to subjugate the labour of others by means of such appropriations.

User avatar
12121
Posts: 89
Joined: Sun Sep 02, 2018 6:45 pm

Re: West Ham’s rent doesn’t even cover match day costs

Post by 12121 » Fri Sep 07, 2018 8:24 pm

It does make me laugh when people think West Ham will buy the stadium fit a tuppence.
Selling it to West Ham would be political suicide. Never happen . Never. Never.

Also, a lot of naive people think the lease agreement is water tight. :lol: No contract is watertight. Tory given beneficial contract by another Tory. Watertight. :lol:
0 x

User avatar
Towie
Posts: 1402
Joined: Tue May 31, 2016 8:06 pm

Re: West Ham’s rent doesn’t even cover match day costs

Post by Towie » Fri Sep 07, 2018 8:45 pm

12121 wrote:It does make me laugh when people think West Ham will buy the stadium fit a tuppence.
Selling it to West Ham would be political suicide. Never happen . Never. Never.

Also, a lot of naive people think the lease agreement is water tight. :lol: No contract is watertight. Tory given beneficial contract by another Tory. Watertight. :lol:
Do you think Spuds will get a points deduction?
For their shambolic attempts of trying to get a stadium safe.
0 x

User avatar
12121
Posts: 89
Joined: Sun Sep 02, 2018 6:45 pm

Re: West Ham’s rent doesn’t even cover match day costs

Post by 12121 » Fri Sep 07, 2018 8:46 pm

Towie wrote:
12121 wrote:It does make me laugh when people think West Ham will buy the stadium fit a tuppence.
Selling it to West Ham would be political suicide. Never happen . Never. Never.

Also, a lot of naive people think the lease agreement is water tight. :lol: No contract is watertight. Tory given beneficial contract by another Tory. Watertight. :lol:
Do you think Spuds will get a points deduction?
For their shambolic attempts of trying to get a stadium safe.
Qué?
0 x

User avatar
HammerJammer
Posts: 485
Joined: Sat May 28, 2016 8:16 pm

Re: numbers loses catheter again

Post by HammerJammer » Fri Sep 07, 2018 8:49 pm

numbers moron wrote:Epic bullshit
Just keep taking the medication.
0 x
Image
Click here and enter 21212 to block the TottenScum Troll

User avatar
Towie
Posts: 1402
Joined: Tue May 31, 2016 8:06 pm

Re: West Ham’s rent doesn’t even cover match day costs

Post by Towie » Fri Sep 07, 2018 9:09 pm

12121 wrote:
Towie wrote:
Do you think Spuds will get a points deduction?
For their shambolic attempts of trying to get a stadium safe.
Qué?

Crees que los Spuds obtendrán una deducción de puntos por sus caóticos intentos de conseguir que su estadio sea seguro?
0 x

User avatar
terrya1965
Posts: 3124
Joined: Sun May 29, 2016 8:48 pm
x 3

Re: West Ham’s rent doesn’t even cover match day costs

Post by terrya1965 » Fri Sep 07, 2018 9:21 pm

12121 wrote:It does make me laugh when people think West Ham will buy the stadium fit a tuppence.
Selling it to West Ham would be political suicide. Never happen . Never. Never.

Also, a lot of naive people think the lease agreement is water tight. :lol: No contract is watertight. Tory given beneficial contract by another Tory. Watertight. :lol:
Wasn`t Stamford Bridge and the Millennium Dome brought for a £1?
0 x

User avatar
12121
Posts: 89
Joined: Sun Sep 02, 2018 6:45 pm

Re: West Ham’s rent doesn’t even cover match day costs

Post by 12121 » Fri Sep 07, 2018 9:45 pm

terrya1965 wrote:
12121 wrote:It does make me laugh when people think West Ham will buy the stadium fit a tuppence.
Selling it to West Ham would be political suicide. Never happen . Never. Never.

Also, a lot of naive people think the lease agreement is water tight. :lol: No contract is watertight. Tory given beneficial contract by another Tory. Watertight. :lol:
Wasn`t Stamford Bridge and the Millennium Dome brought for a £1?
Not to the organisation that is publicly seen to have shafted the public.

Never happen

Political suicide.

I can see the leasing agreement being challenged in court.
0 x

User avatar
punkrockhammer
Posts: 1625
Joined: Wed Jun 01, 2016 7:49 am

Re: West Ham’s rent doesn’t even cover match day costs

Post by punkrockhammer » Fri Sep 07, 2018 10:05 pm

Towie wrote:Brady sure knows how to negotiate.

Stadium will be ours within 10 years would be my guess.
Great(!)

Then somebody else can knock it down and try to rebuild on a site that isn’t in West Ham while the two Dave’s ride off into senile dementia (ones halfway there, possibly both) with their big fat pension funds that they won’t ever get to spend

In the meantime, we rattle around the Valley playing Championship football waiting for a stadium to be built which we will never be able to finance

Unless another set of Arabs look at us as a southern Manchester City, West Ham United is going to die
0 x

Post Reply