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Straumur debt extension bad news for WHU

Premier League West Ham United
by goateron (U14184710) 16 December 2009
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It has been announced that Straumur have been granted a 9 month extension of their debt moratorium. This means that they are under no immediate presure to sell West Ham. Although it is clear that Gold and Sullivan were keen to acquire the club cheaply, that would surely have been better than this continued suspended animation.

Straumur appear to have an over-inflated book value for West Ham and selling for a realistic price is less preferrable for Straumur than keeping the asset on the books at a high value (blame the accountants). Another season like this one beckons. We can expect Upson and Parker to go to help balance the book. Terrible news for Zola.


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posted Dec 16, 2009

Only if they believe your pessimistic assesment of the season.
We are a long way from relegation yet (read another post on fixtures from Jan. onward) and you'll see we have 33 points available in that period, if Zola can wake the team up. As the Americans love to say 'it ain't over 'til the fat lady sings'.

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posted Dec 16, 2009

Perhaps the doom and gloom merchants should pop over to the bookies - you can get 5/2 on WHU being relegated and 6/1 on Zola being the next manager to go. So basically, the bookies think it is pretty unlikely that the Hammers will relegated.

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posted Dec 16, 2009

I have never been more keen to be proved wrong, but very hard to see reasons for optimism at the moment unless we get taken over.

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posted Dec 16, 2009

"....surely Straumur must see how they will be better off selling now rather than waiting until we are in the Championship."

Dont be so pessimistic. They are still some of the league games to go and even if you make it to 17th at the end, you'd have made it. Dont think of the negatives, they're way too evident.

Think and focus on what the club needs on the pitch and get behind the team. The players need that support to get them going. West Ham United stands for far more than relegation, an absolute gem of a club for many years, from Brooking to Devonshire, Moore to Pike, Ray Stewart to Hurst, Bonds to Phil Parkes.

Some great names have come through that club, and you're a good little club regardless what the league says. Chin up and keep up supporting the players, and dont let WUMs get you down. Wait and see.

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posted Dec 16, 2009

It's hard to keep your chin up when you know that your owner will not be puting in any sort of decent investment in the transfer window (the 7mil tv money - if we get it to spend - will only buy one of the three decent players we need - lets hope that it's the right one). The rules that CB Holdings and Straumur are operating under at the moment do not allow it for one thing - they managed to get around them to sort out a 5mil payment to refinance the bank loans, but that was a special one off case.

I think we probably will, one way or another (transfer request of silly money offer etc.) loose three of our main players in Jan - lets face it, no one wants the ones we really want to get shot of as they are not good enough, otherwise we would have got rid of them long ago - so we are stuck with sub prem standard players who we have to play as we have no one else and can bring no one else in.

This is all down to our owners - forget all this rubbish about selling players before you buy in, that will never work as you will only sell your better players and will not be able to replace them with any cash to spare. You need to be able to buy in the players you need and then make it clear to the ones you don't want there is no place for them in your team. If they think they are good enough to play in the prem they will soon move on and those that don't - transfer list them or send them out on loan and forget them - they will soon get the message then.

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posted Dec 17, 2009

I think we should take the bid buy Gold and Sullivan.
Maybe the 50 million is a bit short of what we are worth as a club BUT -
Its more than just 50 million as they were taking on and clearing ALL of our debts - and we all know that West Ham has a lot of debt. Not only that but GOLD/SULLIVAN were going to put some money on the table for Franco to spend in January -
When you look at the whole deal if think its a very good one and we wont be offered anything better - especialy if our plight into relegation continues the way it is at the momment.

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comment by John (U2001365)

posted Dec 17, 2009

The Guardian suggested yesterday that there were other potential buyers but that they were keeping a low profile.
I agree things look bad but it is early in the season and we are not languishing at the bottom 9 points adrift

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posted Dec 17, 2009

'west Ham are in serious financial trouble and are going to lose their best players during the January transfer window, and look doomed' that was said over 1 year ago, yet neither Upson, Cole, Parker or Ashton were sold, ok, bellamy was, but only cos he wanted to go and we were getting top dollar for him.
So Gold and Sullivan were going to give Zola 10m to spend in january, it's not enough, quite simply.For aclub that's so ravaged with debt I'm surprised to find out that we have started building our huge new training. facilities.... why would the creditors let West Ham off the hook? Maybe because things are no where near as bad as the media have been made it out to be.

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posted Dec 17, 2009

One bad deal after another bring back Harry Frank
and Billy

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