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We all owe Gold a big debt of gratitude

Blog by CandH associate editor Sean Whetstone

This morning’s news of how David Gold and his family have financially supported West Ham during the pandemic may have surprised many.

The owners are often criticised by some supporters for taking £20m in interest payments out of the club in the last eleven years.

This morning our story laid bare Gold’s personal financial sacrifice in supporting the club he loves.

Gold’s company offered a letter of support to West Ham offering to loan them £40m in the wake of the pandemic if needed.

The Gold-controlled company is already owed £23.5m by the Hammers for which it earns 4% in interest but it has borrowed money secured against that debt paying 5% in interest, a loss on paper.

While the Gold company received £2m from West Ham in payments to the same company, it paid out double that in a rights issue costing it £4m.

The company sold properties, land and a helicopter to raise funds for the Gold family to continue to support both West Ham and their Ann Summers group in the wake of the global pandemic. Late last year he also sold his prized FA cup for £760,000 to the owner of Manchester City.

Earlier this month Ann Summers reported a loss of £14m on a reduced turnover of £94m so the financial commitment to West Ham is even more impressive considering to impact to the Gold shopping empire.

Gold is a modest man and doesn’t seek recognition or appreciation for what he has done but in my opinion, supporters really owe him a debt of gratitude for putting his hand in his pocket to this extent during these difficult times.

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About Sean Whetstone

I am Season Ticket Holder in West stand lower at the London Stadium and before that, I used to stand in the Sir Trevor Brooking Lower Row R seat 159 in the Boleyn Ground and in the Eighties I stood on the terraces of the old South Bank. I am a presenter on the West Ham Podcast called MooreThanJustaPodcast.co.uk. A Blogger on WestHamTillIdie.com a member of the West Ham Supporters Advisory Board (SAB), Founder of a Youtube channel called Mr West Ham Football at http://www.youtube.com/MrWestHamFootball, I am also the associate editor here at Claret and Hugh. Life Long singer of bubbles! Come on you Irons! Follow me at @Westhamfootball on twitter

14 comments on “We all owe Gold a big debt of gratitude

  1. I have been fortunate enough to meet David Gold on a number of occasions and he has always been extremely polite and well mannered
    He absolutely loves West Ham and everything about the club from top to bottom
    He was a regular attendee to the youth games and at every first team game he always goes down to meet and greet the players before and after the games
    I don’t think that you can question his commitment to the club , whilst I agree there are issues I think if Karen Brady was to no longer be at the club things would run a hell of a lot smoother

  2. Why praise an owner for protecting the value of the club? His goal is to keep the club stable until he sells it for profit. It’s not a dig to mr Gold but I’m genuinely confused I have to say

    • I think given the stick he has taken it’s perfectly reasonable to thank him in tough times for selling profitable operations to support whufc. U have no idea what his plan is. Some hope that’s the case but at 84 such a financial intervention doesnt suggest that’s the case anytime soon

  3. Great article, a big fan of DG, his heart has always been in the right place and he always tries to do the right thing for the club.

  4. I’ve never understood the invective directed at David Gold. Even making no allowance for his age, some of the treatment from keyboard warriors has been disgusting; even if posts something innocuous, he gets vindictive responses. Some of these clowns forget that without him and Sully, the Norwegians would have bankrupted us and we’d still have been at the decrepit Upton Park.

  5. A really good article as it sets out clearly how the finances work and that David Gold does his best for the club but at the same time makes sure it is done in a sustainable way so his business is still around for a future after the ravages of covid for the economy. I would also think both he, David Sullivan andKaren Brady pay their full due on taxes in this country unlike many of the foreign owners of clubs. That includes Spurs, whose owner is a tax exile!

  6. Thanks for your piece on DG. It’s about time some of the fans who constantly berate the owners realize that they mean well for this wonderful club. Let’s for once try and be united. After all that’s our name: WEST HAM UNITED. COYI.

  7. Wow that is something I did not know, hats off to the guy.

  8. A gentleman, let’s not forget he’s one of ours! COYI’s! ⚒

  9. Great article Sean about a thoroughly decent man who has been a genuine and generous supporter of this great club. I watched with horror at the infamous Burnley game when pitch invasions and vitriolic hatred aimed at the Board shamed us. If any of us had invested millions would we have that? Also, where were these nasties when the Icelandics were ruining us at the Boleyn? No, not in my name. Thank you DG.

  10. How refreshing to read about Mr. Gold in such positive way. I have known D.G. for over seventy years and believe me he loves the Hammers as much as anyone. The stick he takes from “supporters” is, at times completely over the top. Now I am going to re-read those those comments of backing for David again hoping it will continue a bit longer. Thanks D.G. for everything. ⚒⚒

  11. He’s one of our own. He’s one of our own. David Gold. He’s one of our own.

  12. Great piece. I thoroughly agree with the supportive comments above. I’d much rather a West Ham man in charge than someone looking to make a quick buck. Long May you remain at the helm, Mr. Gold.

  13. Whilst I think it is indeed very laudable of DG in how he has supported the club financially through a period the likes of us have never seen before, it doesnt detract from the many mistakes, broken promises and unnecessary challenges the club has had to endure because of the board. Do I believe he loves West Ham, yes, do I believe he with Sullivan and Brady van take us to the next level and keep us there, no but in his support during this crisis I do salute you David Gold. Now 3 pts at the weekend please.

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