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[Archived] Other Pl Happenings 2009/10

philipl

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47er

47er

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CB Holdings? Is that the bank who are just holding them until they are sold? Or is that going to be the long term owner???

Long-term owners. New Chairman announced.

Newcastle up for sale for 100M.

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chocky Uefa Europa League

chocky

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West Ham have more jam than hartleys! They always get so lucky!! Hope the new investors havent got masses of cash to spend!! Anyone know?

I can't see a bank ownin g a football club on a permanent basis..West Ham will not make enough money...

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dave birch Champions League

dave birch

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At a guess, it's been set up to avoid a possible points deduction and the possibility of relegation. They're not in it for the long term.

They want to ensure that the asset is not devalued as a result of relegation. I'd bet that if an offer came in that was anywhere near, it would be accepted without question.

edit: Just checked again, and this was an 11th hour fix, it was something that needed to be cobbled together before today.

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mickbrown Premier League

mickbrown

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CB Holdings? Is that the bank who are just holding them until they are sold? Or is that going to be the long term owner???

CH Holdings is the investment arm of Stranmaur Bank which is also bankrupt. They have taken over the almost by defualt as they are the largest creditor so are basically trying to protect their debt.

They reckon the economic climate isn't right for a sale so are going to keep the club "ticking over" til a permanant buyer can be found.

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philipl World Cup

philipl

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CH Holdings is the investment arm of Stranmaur Bank which is also bankrupt. They have taken over the almost by defualt as they are the largest creditor so are basically trying to protect their debt.

They reckon the economic climate isn't right for a sale so are going to keep the club "ticking over" til a permanant buyer can be found.

Ticking over includes paying Sheff U £5m immediately and handling the £49m bank debt West Ham have on their own account.

Ticking over does not sound like major invesment nor any stability.

Basically one bankrupt owner has swapped for another bankrupt owner.

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mickbrown Premier League

mickbrown

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Ticking over includes paying Sheff U £5m immediately and handling the £49m bank debt West Ham have on their own account.

Ticking over does not sound like major invesment nor any stability.

Basically one bankrupt owner has swapped for another bankrupt owner.

I know, doesn't sound like a good move to me either.........

I cannot see Zola and Clarke being happy with the situation if their is no investemnt......

West Ham are still in major trouble.......

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Neil Weaver Champions League

Neil Weaver

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CH Holdings is the investment arm of Stranmaur Bank which is also bankrupt.

Aren't that Bank effectively nationalised (by Iceland)? A sort of RBoS but wholly owned by the government instead of only partly. So in effect West Ham are owned by Icelandic taxpayers?

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philipl World Cup

philipl

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No one is likely to find out for at least twelve months if this is true or not.

Hansa is in administration and likely to be placed in liquidation this week.

The major creditor of Hansa is Straumur Bank which is itself in administration effectively. Straumur has organised a consortium of the banks (all Icelandic and all bust) to whom Hansa is in debt to take over West Ham in return for writing off a large part of their claims on Hansa by agreement with all creditors and the commercial court in Reykjavik.

Had West Ham (inside Hansa) gone into the hands of the liquidator, he would have used his controlling shareholding to start selling West Ham's assets as soon as the West Ham board been fired and a new one put in its place.

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Plastic Head Uefa Europa League

Plastic Head

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I can't see a bank ownin g a football club on a permanent basis..West Ham will not make enough money...

They will re-structure the business, try to reduce the debt, make the accounts look as good as they can in a couple of years then try to sell the club on at a profit.

Players wages will be first and easiest option I presume so Lucas will be away as soona s they can find a buyer.

They will only invest if their investment will increase the value of the company.

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philipl World Cup

philipl

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Reuters describing Wes Ham's new owners:

The future of Straumur is also in the hands of its creditors after Iceland's financial authorities took it over in March.

Straumur was a major lender to Hansa, Gudmundsson's holding company that owned West Ham, and the bank is currently working out a financial restructuring deal with its lenders.

On Friday Straumur asked its creditors for a six-month delay in servicing and repaying its debt to have more time to secure an agreement with lenders.

Straumur hopes creditors will approve a managed work-out of the bank's assets by the existing management. The alternative is a distressed sale of assets, the bank said.

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BPF Champions League

BPF

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Tevez was apparently a done deal last week (nicko?) - however it will be once the internationals are complete that they will announce the deal??

Certain? If I bet £1000 on it i'll see an assured return of £1500?

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