Tuesday, 16 February 2010
New Investor For West Ham
Dear Mr Sullivan,
Thanks awfully for the offer to join your money making venture in the East End. I understand fully why you carry very few details in your proposal on how I can expect to make a return on my investment; these matters do tend to provoke knee jerk responses in the press and amongst the customer base when football clubs are involved.
I understand that debts are currently in the order of £100m, with running costs seemingly out of control. This position can easily be rectified by the sale of assets however. By my calculations, approximately £40m can be raised through the sale of players in the summer, with the wage bill cut by between 25% and 35% in the process.
Your plan to sell the stadium is clearly a way forward. I estimate the land value to be in the region of £50m so it is perfectly feasible for the debt burden to be reduced to a paltry £10m over the next three years. I understand that there are no guarantees regarding the Olympic Stadium but, should this not come to fruition, I can see no reason why the team should not become tenants in the new Tottenham Hotspurs state of the art stadium.
Providing the club remains a production line for the England team, it is easy to see how West Ham United, with its devoted and unquestioning fan base, can become a cash cow, even if the club were to slip into the second tier of the proposed two tier Premiership.
I am confident that you share my ideas on the way forward. If you do not, I cannot understand how you would expect me to invest money in the venture. I remember, however, how you put profit generation above success on the pitch whilst at Birmingham and have every confidence in you following the same strategy at Upton Park.
Congratulations on the smoke screen of being a West Ham fan by the way; that was a great strategy for hoodwinking the suckers!
So, providing you can guarantee a 25% return on my investment, I am happy to come on board. It should not matter that I support Tottenham, of course, although I will avoid wearing the club colours in public until the contracts are signed. There's nothing to be gained by upsetting the natives at this stage is there?
Posted by Hammersfan at 10:04