If West Ham were sold for more than £200m before March 2023 West Ham owners would need to pay a share premium the London Stadium public owners.
The London Stadium concessionaire agreement was signed by West Ham and LLDC in March 2013 which includes clauses within the contract that say 12.5% must be paid if the club is sold between £200m and £300m in the last five years of the ten year anniversary of the contract commencement date with 2o% due on sums over £300m. Banks and shareholder loans can be subtracted from the tax calculation.
If the club was sold for £350m they would be able to exclude the £45m owed to Sullivan and Gold and £10m owed to Tripp Smith in shareholder loans. The short term bank debt of £30m would also most likely qualify for exclusion under the contract.
The qualifying amount would, therefore, be reduced to £265m in which case the 12.5% tax would come into effect for £65m costing the shareholders £8.1m
Split out by shareholders Sullivan would pay around £4m of that, Gold around £3m, Smith around £800,000 and Brown and Harris family around £325,000.
The reason I have chosen the £350m figure is that is the valuation Mike Ashley has put on Newcastle United which remains unsold since he announced the club for available for sale in 2017.
Who cares?! ffs i think they have already milked enough money from the club…. so booohooo!!!
I DO NOT THINK THERE IS ANY CONFUSION OVER MATTY CASH . I DON’T THINK WEST HAM HAVE EVEN PUT A BID IN FOR ANY PLAYER . NOW YOU CAN SEE WHY THEY EMPLOYED “MOYES” BECAUSE I PRESUME THEY HAVE TOLD HIM THAT THE ONLY PLAYERS COMING IN JANUARY WOULD BE LOANS .THAT EXPLAINS HIS STANCE ON TRANSFERS ….. WHAT A WAY TO RUN A PREMIER LEAGUE CLUB ;;;;; PLEASE SELL BEFORE YOU RUIN IT LIKE THE PREVIOUS OWNERS DID
Of most concern is that Double-Ds probably think they’re doing their best and the Baroness is convinced they are all doing a good job.
Any potential buyer would need to be either a state or franchise owner as the first thing they should do is buy the ground and demolish the complete interior.
Thankfully, unlike ManU, it could not be people who could make a fortune by borrowing to finance the purchase and cover the cost by being such a worldwide brand.
While the stadium is being turned into a football stadium, we could return the compliment and ground-share with Charlton. By then, their ground should be big enough for our support.
The optimum owner would be someone like Vichai Srivaddhanaprabha who understood the needs and desires of the whole of Leicester, not just the football club. He understood what a club means to it supporters and locality and has contributed enormously to the welfare of the whole city (I know because I live near Loughborough). Obviously not quite the same with a big city club.
Given that so many fans travel into Stratford from far and wide and expanding the Boleyn was never an option, the long since abandoned Essex M25 corridor idea might have been better for a new ground.
Once and for all, the investment would need to include the hiring of an up and coming young coach and essentially, a whole new squad. The repeated fire-fighting of the last however many years will only result in the inevitable roller-coaster that we long since been experiencing.
Any potential buyer would need to be either a state or franchise owner as the first thing they should do is buy the ground and demolish the complete interior.
nobody is going to pay 500m for a club a few 100m for new players and then another 500m to do the stadium again as that would involve a new roof and all sorts
They think the club is worth a lot more than £350m, remember when Red Bull were reportedly showing interest I think they were quoting £650m ?
Unfortunately I think that valuation of £650 mill may be have been a figment of Sullivan’s imagination.