With the international break meaning slow news day after slow news day (we know that problem!) the Daily Mail has chosen to publish a couple of space filling features: ‘The world’s Top 100 Players‘ and now ‘Who owns your Club?’
Here’s their appraisal of West Ham:
Owners: David Sullivan – 51%; David Gold – 35.1%; CB Holding ehf – 10%; Others – 3.8%
‘Gold fulfilled a lifetime goal by taking charge of the Hammers alongside his business partner Sullivan in 2009.
The former bricklayer’s apprentice, who bought Ann Summers for £10,000 in 1972, arrived back in the East End via a stint at the helm of Birmingham City.
Sullivan, the proprietor of the Sunday Sport and a former producer of adult movies, also invests in property – much of which is found in London.
His personal wealth has risen through the £1b barrier in recent months.
The 10 per cent stake held by CB Holding – a company registered in the Cayman Islands which took on shareholding in the club as a result of the collapse of the Icelandic Straumur Investment Bank.’
I remember reading that a few years ago that CB still owned 10% as a fallout from the old situation and that they were looking to recoup a certain amount of money in the longer term.
Saw a video with a West Ham fan, and that CB Holdings company is important. Apparently the debt is owned by this CB firm, and GS actually make a profit out of the debt and are allegedly able to extract money from the headline club holdings in this manner. Important to note this is an ‘alleged’ structure and that there is no proof that this is the case.
However I am happy to stand corrected on this, and it would be great if someone could go into a bit more detail on this.