The Olympic stadium cost £600 million.

It will now be "sold" to West Ham for £15 million
(AFTER another £190 million has been paid out to convert it !)

This is lunacy.

I know nothing about the economics or football but my instincts tell me this is a damn good deal for all concerned.

In The Know wrote:
The Olympic stadium cost £600 million.

It will now be "sold" to West Ham for £15 million
(AFTER another £190 million has been paid out to convert it !)

This is lunacy.

I agree with you ITK The Hammers are still at risk for relegation if they play in the Championship at the Olympic stadium it be a very poor atmosphere and low attendance. Many West Ham fans are against the idea just seems board are all for it.

andrew wrote:
I agree with you ITK The Hammers are still at risk for relegation if they play in the Championship at the Olympic stadium it be a very poor atmosphere and low attendance.


... and how long before they cannot afford the £2 million a year rent ?

it's perfectly acceptable for the government to build a stadium and sell it at a knock down price to the citizens....but the IOAC is as corrupt as they come.

hedda wrote:
it's perfectly acceptable for the government to build a stadium and sell it at a knock down price to the citizens....


... say those who dont work for a living and like to give other people's money away !

In The Know wrote:
hedda wrote:
it's perfectly acceptable for the government to build a stadium and sell it at a knock down price to the citizens....


... say those who dont work for a living and like to give other people's money away !

I work for a living and pay taxes (in 2 countries)....it's you who applaud others avoiding tax and then screech about the down and outs getting a handout.

In The Know wrote:
andrew wrote:
I agree with you ITK The Hammers are still at risk for relegation if they play in the Championship at the Olympic stadium it be a very poor atmosphere and low attendance.


... and how long before they cannot afford the £2 million a year rent ?

They can afford that but it will be hard for them as West Ham are already in millions pounds worth in debt.

hedda wrote:
I work for a living and pay taxes (in 2 countries)....it's you who applaud others avoiding tax and then screech about the down and outs getting a handout.

... but you wouldn't have to pay so much tax - and neither would anyone else - if there were not so many bleeding us dry, eh Veri-hedda?

andrew wrote:
it will be hard for them as West Ham are already in millions pounds worth in debt

Name ONE premiership club which isn't....

Man United?

andrew wrote:
They can afford that but it will be hard for them as West Ham are already in millions pounds worth in debt.

Andrew Boff, Tory Olympics spokesman in the London Assembly, said: “It’s a pig’s ear of a decision and should not be allowed to continue. The taxpayer better realise they will have to get used over the next few decades to digging ever deeper into their pockets to get this project to work.”

www.express.co.uk/news/uk/386542/Olympics-deal-is-a-pig-s-ear

Man UTD are in debt.

When Sullivan and the golds owned Birmingham they were considered one of the few clubs not in debt.
what changed at West Ham?

andrew wrote:
Man UTD are in debt

Yes - close to $1b.

But their owners are doing rather well - taking a lot of money out. But, its a private company, so - very few records are available....

They came in and bought ManU with a leveraged buyout. Meaning - the assets they bought (ManU, properties, brand etc.) were pledged as security for the loans which generated the cash to make the purchase!!

Glaziers (of the USA) are smart, and will end up making a lot of money when the club/franchise is sold - and there will be no capital gains tax.

True wrote:
When Sullivan and the golds owned Birmingham they were considered one of the few clubs not in debt.

Sullivan, convicted of living off immoral earnings and send to prison, has - with 'Ann Summers' Gold - pulled off a massive stroke here.

West Ham will take over the Olympic Stadium, after the conversion for football, for just £15m on a 99 year lease - essentially freehold. Tax payers will have spent between £600/700m on the stadium - including the £150m conversion cost.

An annual rent of £2m will be paid - but, bearing in mind the £100m TV income for all Premiership teams next season - that will not be a problem.

How West Ham will fill a 58,000 seat stadium (they average less than half that) - and may still be relegated - is another matter....

Thank you for simply repeating what I said in the original post over two days ago !

In The Know wrote:
Thank you for simply repeating what I said in the original post over two days ago !

That's ok, ITK mate - but 2 of the 3 figures you quoted were incorrect....

Ben 9 wrote:
[quoteThat's ok, ITK mate - but 2 of the 3 figures you quoted were incorrect....[/quote]

Did your biddy from Age Concern tell you that ?

LOL

In The Know wrote:
Ben 9 wrote:
[quoteThat's ok, ITK mate - but 2 of the 3 figures you quoted were incorrect....[/quote]

Did your biddy from Age Concern tell you that ?

LOL

sounds like your wife

Thank you for showing us your intelligence level.

In a recent post, you said "A friend of mine in England" - which implies you are NOT in England? Not even English ?

It would explain quite alot !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!