Wednesday, 11 November 2009
Intermarket and West Ham United
David Byrne, Intermarket's company secretary, and one of its two founding directors claimed on Tuesday that it had signed a non-disclosure agreement with Rothschilds. Byrne said: "Some people were dismissing us as not being serious bidders but we are. We have satisfied them [Rothschilds] that we have proof of funds."
When Intermarket went public with its interest in West Ham several weeks ago, the claim was met with scepticism by sources at CB Holdings, the company that controls the club. They questioned Intermarket's intentions and made it clear that West Ham will not be sold cheaply.
It is understood that Intermarket value the club at £100 million – claiming that includes taking on debts that they estimate at £48 million and also the costs of the Carlos Tévez affair.
It means that the group of creditors who own West Ham would receive just over £30 million, which is far less than they are hoping to recoup and would be unacceptable.
Byrne said that the investors he represents will have the financial backing to improve the club's prospects in the transfer market and improve the squad, backing manager Gianfranco Zola.
"We have definitely got the interested parties with the money needed to do what we need to do and get in some funding to stop West Ham having to sell players and make sure they can strengthen to be able to avoid relegation," he said.
There has also been annoyance that Intermarket have not made public where their proposed funding is coming from but Byrne claimed on Tuesday that the information had now been passed on to Rothschilds.
He added that he represented "a group of investors from institutional level down to high net-worth individuals".
Byrne said: "We are West Ham supporters and are deadly serious and we believe we have satisfied Rothschilds that we are serious. This has been portrayed as an American bid (because of the involvement of a US financier Jim Bowe) but that's not the case. The Intermarket Group is London based."
Signing an NDA does not mean that Intermarket have been granted permission to start due diligence and does not mean that the company has to prove it has funding. There are also, according to sources, other potential bidders and investors who have been appointed along with Standard Bank, and who are trying to access the club's books.
Byrne claimed that he expected to see "official figures" next week which will lay out West Ham's finances and added that Intermarket were keen to try and finalise a deal before a creditors meeting on Dec 11.
http://www.telegraph.co.uk/sport/football/leagues/premierleague/westham/6540103/West-Ham-United-takeover-bid-is-for-real-insist-Intermarket.html
When Intermarket went public with its interest in West Ham several weeks ago, the claim was met with scepticism by sources at CB Holdings, the company that controls the club. They questioned Intermarket's intentions and made it clear that West Ham will not be sold cheaply.
It is understood that Intermarket value the club at £100 million – claiming that includes taking on debts that they estimate at £48 million and also the costs of the Carlos Tévez affair.
It means that the group of creditors who own West Ham would receive just over £30 million, which is far less than they are hoping to recoup and would be unacceptable.
Byrne said that the investors he represents will have the financial backing to improve the club's prospects in the transfer market and improve the squad, backing manager Gianfranco Zola.
"We have definitely got the interested parties with the money needed to do what we need to do and get in some funding to stop West Ham having to sell players and make sure they can strengthen to be able to avoid relegation," he said.
There has also been annoyance that Intermarket have not made public where their proposed funding is coming from but Byrne claimed on Tuesday that the information had now been passed on to Rothschilds.
He added that he represented "a group of investors from institutional level down to high net-worth individuals".
Byrne said: "We are West Ham supporters and are deadly serious and we believe we have satisfied Rothschilds that we are serious. This has been portrayed as an American bid (because of the involvement of a US financier Jim Bowe) but that's not the case. The Intermarket Group is London based."
Signing an NDA does not mean that Intermarket have been granted permission to start due diligence and does not mean that the company has to prove it has funding. There are also, according to sources, other potential bidders and investors who have been appointed along with Standard Bank, and who are trying to access the club's books.
Byrne claimed that he expected to see "official figures" next week which will lay out West Ham's finances and added that Intermarket were keen to try and finalise a deal before a creditors meeting on Dec 11.
http://www.telegraph.co.uk/sport/football/leagues/premierleague/westham/6540103/West-Ham-United-takeover-bid-is-for-real-insist-Intermarket.html
Wednesday, 4 November 2009
Monday, 26 October 2009
West Ham v Bournemouth (1929)
You can watch film of the 1929 fifth round FA tie between West Ham v Bournemouth at Dean Court (attendance 11,346). The game resulted in a 1-1 draw. Tommy Yews got the goal for the Hammers. He also got one of the goals in the 3-1 victory at Upton Park (attendance 30,217).
http://www.britishpathe.com/record.php?id=48808
Unfortunately, West Ham was knocked out in the next round by Portsmouth. Jim Barrett got both goals in the 3-2 defeat.
http://www.britishpathe.com/record.php?id=48808
Unfortunately, West Ham was knocked out in the next round by Portsmouth. Jim Barrett got both goals in the 3-2 defeat.
Tuesday, 6 October 2009
Gianluca Nani
News of the World
http://www.newsoftheworld.co.uk/sport/533001/THE-pound100million-takeover-of-West-Ham-by-David-Gold-and-David-Sullivan-is-back-on.html
Zola has been willing to embrace a new "project" to develop the club's best youngsters but his relationship with West Ham technical director Gianluca Nani has become strained.
Nani is in charge of transfers but Zola was bemused when the club sold Craig Bellamy for £14m to Manchester City last January.
West Ham then quickly shelled out a reported £9m for untried, Ugandan-born German Under-21 international Savio.
Despite a rave billing, Savio flopped and has since been involved in a swap deal with Fiorentina that has brought defender Manuel da Costa to the club in a deal that was worth around £3m.
Neither Zola nor assistant boss Steve Clarke particularly rate Da Costa and were upset that the club sold defender James Collins to Aston Villa for £5m.
That enabled Nani to bring in attacking midfielder Luis Jimenez on loan from Inter Milan and striker Alessandro Diamanti from Livorno.
Zola has not been keen on confrontation but I understand Clarke has had several heated debates with Nani over the logic behind some of the signings.
Zola is cutting an increasingly frustrated figure on the sidelines at Hammers matches these days.
And after Monday's 3-1 defeat at Manchester City, which locked the Hammers into the bottom three with just four points from six games, Zola read the riot act to his players.
He regards today's clash against fellow strugglers Fulham as a match that could shape the club's season.
Zola said: "Preparing for this game is like a cup final for us. At Manchester City on Monday, it was the worst we have played all season. We have to improve."
The manager then vowed to act with a firmer fist. He added: "I am going to be more focused and demanding of the players. I am going to be on top of it until I get it right."
Skipper Matthew Upson is set to return today following a calf injury. Clarke said: "You need all your experienced players. Matthew has been good for us since Gianfranco and myself came to the club."
http://www.newsoftheworld.co.uk/sport/533001/THE-pound100million-takeover-of-West-Ham-by-David-Gold-and-David-Sullivan-is-back-on.html
Zola has been willing to embrace a new "project" to develop the club's best youngsters but his relationship with West Ham technical director Gianluca Nani has become strained.
Nani is in charge of transfers but Zola was bemused when the club sold Craig Bellamy for £14m to Manchester City last January.
West Ham then quickly shelled out a reported £9m for untried, Ugandan-born German Under-21 international Savio.
Despite a rave billing, Savio flopped and has since been involved in a swap deal with Fiorentina that has brought defender Manuel da Costa to the club in a deal that was worth around £3m.
Neither Zola nor assistant boss Steve Clarke particularly rate Da Costa and were upset that the club sold defender James Collins to Aston Villa for £5m.
That enabled Nani to bring in attacking midfielder Luis Jimenez on loan from Inter Milan and striker Alessandro Diamanti from Livorno.
Zola has not been keen on confrontation but I understand Clarke has had several heated debates with Nani over the logic behind some of the signings.
Zola is cutting an increasingly frustrated figure on the sidelines at Hammers matches these days.
And after Monday's 3-1 defeat at Manchester City, which locked the Hammers into the bottom three with just four points from six games, Zola read the riot act to his players.
He regards today's clash against fellow strugglers Fulham as a match that could shape the club's season.
Zola said: "Preparing for this game is like a cup final for us. At Manchester City on Monday, it was the worst we have played all season. We have to improve."
The manager then vowed to act with a firmer fist. He added: "I am going to be more focused and demanding of the players. I am going to be on top of it until I get it right."
Skipper Matthew Upson is set to return today following a calf injury. Clarke said: "You need all your experienced players. Matthew has been good for us since Gianfranco and myself came to the club."
Monday, 5 October 2009
David Gold and David Sullivan
From the News of the World:
The £100million takeover of West Ham by David Gold and David Sullivan is back on.
Now the sale of Birmingham City to Chinese tycoon Carson Yeung has been rubber-stamped, Gold and Sullivan have the funds to buy the Hammers.
But the pair will only make a formal move if the Icelandic bankers who own the London club are realistic about the selling price.
The Essex-based pair backed off last month when it was indicated that a £120m cash deal was wanted.
At the time, West Ham's owners were hopeful of creating an auction but no other firm bidders emerged.
The asking price has now dropped to £100m and I understand that takes into account about £50m of debt.
So Gold and Sullivan, who sold Birmingham for £80m, could land the Hammers for in the region of £50m in equity.
CB Holdings, an off-shoot of Straumur - which took over the club after the collapse of another bank, Landsbanki - were holding out for an economic upturnin the hope of increasing the price.
But key creditors in Iceland are now pushing to have their debts settled.
Gold and Sullivan have been biding their time but the pair are now poised to make their move and then radically overhaul the Hammers.
http://www.newsoftheworld.co.uk/sport/533001/THE-pound100million-takeover-of-West-Ham-by-David-Gold-and-David-Sullivan-is-back-on.html
The £100million takeover of West Ham by David Gold and David Sullivan is back on.
Now the sale of Birmingham City to Chinese tycoon Carson Yeung has been rubber-stamped, Gold and Sullivan have the funds to buy the Hammers.
But the pair will only make a formal move if the Icelandic bankers who own the London club are realistic about the selling price.
The Essex-based pair backed off last month when it was indicated that a £120m cash deal was wanted.
At the time, West Ham's owners were hopeful of creating an auction but no other firm bidders emerged.
The asking price has now dropped to £100m and I understand that takes into account about £50m of debt.
So Gold and Sullivan, who sold Birmingham for £80m, could land the Hammers for in the region of £50m in equity.
CB Holdings, an off-shoot of Straumur - which took over the club after the collapse of another bank, Landsbanki - were holding out for an economic upturnin the hope of increasing the price.
But key creditors in Iceland are now pushing to have their debts settled.
Gold and Sullivan have been biding their time but the pair are now poised to make their move and then radically overhaul the Hammers.
http://www.newsoftheworld.co.uk/sport/533001/THE-pound100million-takeover-of-West-Ham-by-David-Gold-and-David-Sullivan-is-back-on.html
Tuesday, 22 September 2009
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