NEWSNOWPay up and Sell
Sheffield United v West Ham court saga looks like it might be coming to
an end. Though the Blades recently got the all clear to pursue their
case, it seems that they are now keen to settle given that West Ham
owner Bjorgolfur Gudmundsson has seen his fortune slashed by Iceland’s
financial implosion. Should the reported £25 million out-of-court
settlement go ahead the Hammers?
A lot of interest has been shown in buying West Ham so Paying the settlement could see West Ham have new owners by January, we need to get rid of burden on West Ham, and move forward.
This post was submitted by Mike DiAntoni.
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PAY UP!!! And give those hypocrites Sheffield United money they do not deserve! You must be joking. WHU have been punished already in many ways as well as the 5 million pound fine. Sheffield united got relegated because they were not good enough over the 36 odd games to stay up and BTW didnt the premier league sanction Tevz to play after they error, lets say was declared?. if S.U . get anything football as we know it will become a farce, everyone sueing everyone, just must not happen.They even beat us FFS!. grrr it makes me so angry how this is still continueing.
Maybe it’s time to start thinking about a reasonable settlement to put this behind us once and for all. However, the £25-30M quoted in the press is wide of the mark. Sheffield’s loss this year is £3M, so compensation should be the difference between any profit they can demonstrate would have been achieved if they had managed to stay in the PL.With the larger wage bill that would have been payable if they had remained in the PL, I doubt the profit would have been anything like £20m.WH now have sight of Sheffield’s accounts, so unless our lawyers want to challenge the dubious and speculative arbitration decision in the High Court, I guess an offer will be made in due course.
How do you know there has been a lot of interest in West Ham?There is no doubt that Gudmundsson wants rid asap and his spokesman has inferred that they have had a lot of interest for obvious reasons.But , so far, nothing serious or only one interested party who is sitting tight and letting BG sweat and lower the asking price.The Tevez situation is undoubtedly a stumbling block – but, then again, it does not bode well that a prespective buyer cannot factor that into any deal or is that tight for cash.Rumours suggest that Terence Brown might be heading a consortium (please God anyone but that lowlife moneysucker!)interested in buying the club and no one else seems in the frame at the moment.
Normally it is those who have to pay that make the first offer of compensation (i.e., US). If they are saying ‘come on lads, gissus this and we’ll call it quits’ then they are not confident that they are gonna get anything. Added to which I think that McBabe’s ‘investments’ are in trouble. If you look at his Sheff Utd funding I believe he has used the club as a front to hit the big time, looking for any opportunity at swindling or litigation. Into this our former executives stumbled like headless chickens!! Sheff Utd have always been a loss leader, hardly ever breaking even. He’s exposed in a falling Chinese property market and the club is funded by serviced debt ( serviced by HBOS!). So they are in it.We should ignore and go to court. Could backfire but the chances are the judge will talk about ‘reasonable offers’ – then we make one. 2 m should do it.
According to their own statement they are about 6 mill down on what they made last year. No wonder they’re offering a 25 mill out of court settlement! They don’t want a forensic examination of their books as it would show that they haven’t lost nearly as much as they first claimed.
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They also feel that the FA’s decision should be final in the case where their player fractured the skull of an opponent, they feel that the club who are going to take the matter further are ‘making more of it than they should’
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I suppose that will be West Ham’s fault as well cos if they hadn’t been relegated they wouldn’t be playing Barnsley. Well actually they would cos they were so shit they would have gone down the following year anyway.
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I think they’ll be lucky to get 5 mill out of the whole Tevez thing, which is a lot of money for them…could rebuild the whole town and still have enough left for a whippet and a flat cap for everyone!
I agree with John J in the sense that should it remain in court SUFC know full well that they could still lose the case and hava to wait years for money if they succeed, hence the rather cheeky reports that they would settle for 25 million(ha ha!) As if BG would fall for that and between 3 and 5 million would be nearer the mark and the scroungers would be stupid not to accept it! Sheffield United had a good name previously, not now!Â