A major building company have been asked to draw up with a new study as to the actual cost of converting the white elephant that is the London Stadium in to a football stadium fit for purpose, it is not known as yet whether the request has the backing of the West Ham United hierarchy. (Probbaly not) but as they are only tenants their hands are tied when it comes to the actual building.
The investment group is comprised mainly of Chinese businessmen with the notable exception of one, Kia Joorabchian! Joorabchian’s MSI company are no strangers to West Ham United take over attempts, and the fact that recent arrival ‘super’ Mario’s loan spell from Inter Milan was brokered by Kia Joorabchian will not have gone unnoticed by some, and the similarities with the arrival at the Old Boleyn of Carlos Tevez and Javier Mascherano brokered by MSI are astounding. (Hmm funny)
Joorabchian has long coveted owning a high profile Premier League team and West Ham are right up his street, cash strapped with a need for new investment. Ideal candidates for a ‘passive/aggressive’ take over which works this way: Investment company take a less than controlling stake in the club allowing a steady flow of funds, however there is a problem with this, Using a scheme known as ‘green labeling’ the new investors release money in small instalments on the condition that the majority stake holder invests the equivalent on a quid pro quo basis in the club, the idea being the shares grow in value to such an extent that the minority share holding becomes worth a lot more money than the original investment. Shares have to be offered back to the majority shareholders at a ‘special’ discount, but this means leaving the club needing to either refinance or accept a non majority stake.
If this sounds all smoke and mirrors that is because the world of share trading and company acquisitions is mired with false trails, anyone who has tried to research M.S.I (media sports investments) will confirm just how difficult discovering the truth can be. The situation has a further twist because of the mayor of London Sadiq Khan’s desire to get the London Stadium of the tax payer’s books as soon as possible, MSI have access to massive funding and a deal could be brokered as soon as this April should initial negotiations prove fruitful, there is a desire from all parties to turn the ironic stadium into the iconic stadium it should have been had it not been for the meddling of Lord Coe and his cronies.
Before fans celebrate potential new investors, it should be remembered what happened the last time ‘new investors’ came in to the club in the form of Eggert Magnussen and the bankrupt Icelandics, that all ended badly didn’t it? In addition there were the punitive and swingeing fines administered by the FA for fielding the ineligible Carlos Tevez that cost the club in excess of £30 Million in fines and compensation to Sheffield United.
Now who was it who brokered those deals, do you get that Dejavu feeling? It seems to occur to West Ham fans more than any others doesn’t it?