West Spam stadium issues.
- Thread starter John from Bootle
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hallamblue
Player Valuation: £40m
99 year deal, can't be revoked. Great job by Boris Johnson!
canuckblue
Player Valuation: £50m
They're locked into a bad deal, I take it?
Tommy Chong
Player Valuation: £70m
Yip… The short and sweet of it is:
They have to fit the bill for all the stadium expenses, and they are literally haemorrhaging money into the stadium to the point that they’ve sucked the budget dry. They’ve already made provisions for something like 200 million pounds of future losses.
And the deal made with West Ham for rent is so low that it doesn’t even begin to cover a small percentage of the expenses and losses.
So either they sell it, renegotiate the deal for more rent or leave it as is with not enough money coming in to cover losses and the stadium to fall apart.
Otherwise they’re going to have to start literally blowing fella’s named ‘Bubbles’ in exchange for cash in hand to make up the shortfall!
Sounds the sort of deal we'd make. Fingers crossed for BMD
canuckblue
Player Valuation: £50m
"They" being the stadium owners, not West Ham?Yip… The short and sweet of it is:
They have to fit the bill for all the stadium expenses, and they are literally haemorrhaging money into the stadium to the point that they’ve sucked the budget dry. They’ve already made provisions for something like 200 million pounds of future losses.
And the deal made with West Ham for rent is so low that it doesn’t even begin to cover a small percentage of the expenses and losses.
So either they sell it, renegotiate the deal for more rent or leave it as is with not enough money coming in to cover losses and the stadium to fall apart.
Otherwise they’re going to have to start literally blowing fella’s named ‘Bubbles’ in exchange for cash in hand to make up the shortfall!
hallamblue
Player Valuation: £40m
Correct. West Ham pay £2 million a year for the stadium and get more than that back in stewarding costs which they're only liable for up to a point, so they are basically being paid to use the stadium! It's the worse deal ever, on top of the £750 million conversion cost because the original plan to just take the temporary tier off and make it a 25,000 capacity athletics stadium was changed by Johnson when he was mayor of London.
Tommy Chong
Player Valuation: £70m
Yip. The landlord which is basically the government/mayor of London.
canuckblue
Player Valuation: £50m
Looks like the Hammers made out like bandits on that deal.
hallamblue
Player Valuation: £40m
Karen Brady outsmarted Boris Johnson because a) he's an idiot and b) he probably thinks women are all thick because he's a misogynist
Tommy Chong
Player Valuation: £70m
To an extent, yes. But eventually it’s going to come back to bite them in the ass!
If things continue the way they are with the stadium continuing to make losses, no money coming in due to budgetary constraints, more provisions for future losses, the stadium will start falling apart at the seams with no money for maintenance and repairs etc…
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hallamblue
Player Valuation: £40m
They just spent a load of money putting extra seats in. It's a fairly low maintenance stadium, goodness knows how it cost so much to build!
Rita_Poon
Player Valuation: £100m
Sounds like grounds for a court case vs the government. (another one) and boris and his orchestra of imbeciles will be nowhere to be seen.
That opening ceremony though eh...
hallamblue
Player Valuation: £40m
There's no case really, Johnson signed it off in his capacity as Mayor of London and so they're stuck with it for 99 years, unless they threaten to demolish it, which I think is unlikely.
Tommy Chong
Player Valuation: £70m
Oh yeah! Well, it’s the other way round: the landlords currently suing the solicitors ie… Brady who brokered the deal! That’s how one sided the deal is!
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