Tuesday, 13 October 2009
West Ham Going Down or Going Under
Now Sullivan may just be trying to talk down the price, but his analysis of our situation sounds pretty accurate to me. Unless somebody stumps up the money over the next couple of months, it is hard to see how we can both survive in the Prem or survive as a going concern.
The debts are massive and are growing. The sale of Collins showed how desperate the situation is and, apparently, we have sacrificed future revenue streams to fund the signing of Diamanti and to cover wage bills and operating costs. C&B Holdings are in no position to pump in further money and the vultures are gathering around Straumer. West Ham Untited FC does have an asset value, but West Ham United FC is not a viable business model. What do Asset Management companies do in a situation like this? If they can't sell the brand, they strip the assets.
I warned back in April that we should keep a look out for the Barratt helicopter flying over Upton Park. Come January, who would be surprised if Upson, Green, Parker and Cole were sold? If that happens, what chance is there of us surviving as a Premiership club?
Sorry this is depressing but, as Sullivan says, there may well be very dark days ahead.
Posted by Hammersfan at 20:50