Today’s renegotiation sounds like a further piss take no matter how Beacon Bacon spins it...
Thanks for posting that, I had missed it. We'd put in an FOI requesting these details and of course they still haven't answered that.
It's exactly what you said. We have argued that if West Ham want the extra seats, they should give up the retractable seats, quid pro quo. If they agreed to that, it would bring the taxpayer an extra £4.5m per annum, the cost of removing and putting back those ridiculous retractables. Instead they've just given them those extra seats for just 10% of that amount, meaning that the taxpayer will be paying £10-12m per annum to keep West Ham in clover. Pathetic.
Interesting article in the Times about Brady. Small extract says:
West Ham United paid Baroness Brady £438,000 for consultancy work last season on top of her £898,000 salary, the club’s annual accounts have revealed. Brady was paid via her company BKB Media Ltd for work in connection with the sale of ten per cent of the club to the American billionaire Albert “Tripp” Smith. She is the only director of BKB Media, which had assets of £2.6 million in its most recent accounts. West Ham paid Brady £365,000 plus VAT for her work. A club spokesman said it was extra consultancy work “outside the scope of her role as vice-chairman, and was paid accordingly as an external consultant”. The accounts also disclose that the co-owners David Sullivan and David Gold were paid £4.6 million in August — £2.3 million each — as interest on their loans to the club of £45 million. When Smith purchased ten per cent of the club in September 2017 he made a loan of £9.5 million to West Ham, via the company WHU LLC. Unlike the loans from Sullivan and Gold, this is interest-free and repayable if there is a change of ownership. The club made a net profit of £17.3 milllion in 2017-18, down from £43 million the previous season. The wage bill has risen to £106.6 million from £95 million, and the accounts show they spent £89.5 million on transfers during the summer. The move from Upton Park has yet to pay off — matchday income last season dropped to £24.5 million compared with £26.9 million in the final season at their former ground.
Interesting article in the Times about Brady. Small extract says:
West Ham United paid Baroness Brady £438,000 for consultancy work last season on top of her £898,000 salary, the club’s annual accounts have revealed. Brady was paid via her company BKB Media Ltd for work in connection with the sale of ten per cent of the club to the American billionaire Albert “Tripp” Smith. She is the only director of BKB Media, which had assets of £2.6 million in its most recent accounts. West Ham paid Brady £365,000 plus VAT for her work. A club spokesman said it was extra consultancy work “outside the scope of her role as vice-chairman, and was paid accordingly as an external consultant”. The accounts also disclose that the co-owners David Sullivan and David Gold were paid £4.6 million in August — £2.3 million each — as interest on their loans to the club of £45 million. When Smith purchased ten per cent of the club in September 2017 he made a loan of £9.5 million to West Ham, via the company WHU LLC. Unlike the loans from Sullivan and Gold, this is interest-free and repayable if there is a change of ownership. The club made a net profit of £17.3 milllion in 2017-18, down from £43 million the previous season. The wage bill has risen to £106.6 million from £95 million, and the accounts show they spent £89.5 million on transfers during the summer. The move from Upton Park has yet to pay off — matchday income last season dropped to £24.5 million compared with £26.9 million in the final season at their former ground.
Interesting article in the Times about Brady. Small extract says:
West Ham United paid Baroness Brady £438,000 for consultancy work last season on top of her £898,000 salary, the club’s annual accounts have revealed. Brady was paid via her company BKB Media Ltd for work in connection with the sale of ten per cent of the club to the American billionaire Albert “Tripp” Smith. She is the only director of BKB Media, which had assets of £2.6 million in its most recent accounts. West Ham paid Brady £365,000 plus VAT for her work. A club spokesman said it was extra consultancy work “outside the scope of her role as vice-chairman, and was paid accordingly as an external consultant”. The accounts also disclose that the co-owners David Sullivan and David Gold were paid £4.6 million in August — £2.3 million each — as interest on their loans to the club of £45 million. When Smith purchased ten per cent of the club in September 2017 he made a loan of £9.5 million to West Ham, via the company WHU LLC. Unlike the loans from Sullivan and Gold, this is interest-free and repayable if there is a change of ownership. The club made a net profit of £17.3 milllion in 2017-18, down from £43 million the previous season. The wage bill has risen to £106.6 million from £95 million, and the accounts show they spent £89.5 million on transfers during the summer. The move from Upton Park has yet to pay off — matchday income last season dropped to £24.5 million compared with £26.9 million in the final season at their former ground.
On Tuesday London Stadium owners E20 announced that LS185 has been brought in-house. The agreement will help get the stadium "on a firm financial footing", the company said.
On Tuesday London Stadium owners E20 announced that LS185 has been brought in-house. The agreement will help get the stadium "on a firm financial footing", the company said.
On Tuesday London Stadium owners E20 announced that LS185 has been brought in-house. The agreement will help get the stadium "on a firm financial footing", the company said.
Thanks for highlighting that, it had slipped past me. However even after reading the full statement I am puzzled about what this actually means.
LS185 is a sub-unit of Vinci, a private company, who won the contract to operate the Stadium. They are both responsible for all match day operations, and for bringing in new events. Seems to me to imply the contract has been cancelled, but nowhere does it say that.
If anyone else can shed light on this, I'd be very grateful. We have a meet on 31 Jan with Len Duvall at City Hall, so I'd like to get my head around what this might mean. What it does not mean is West Ham paying any more, so it does not move us further towards our core objective.
On Tuesday London Stadium owners E20 announced that LS185 has been brought in-house. The agreement will help get the stadium "on a firm financial footing", the company said.
Thanks for highlighting that, it had slipped past me. However even after reading the full statement I am puzzled about what this actually means.
LS185 is a sub-unit of Vinci, a private company, who won the contract to operate the Stadium. They are both responsible for all match day operations, and for bringing in new events. Seems to me to imply the contract has been cancelled, but nowhere does it say that.
If anyone else can shed light on this, I'd be very grateful. We have a meet on 31 Jan with Len Duvall at City Hall, so I'd like to get my head around what this might mean. What it does not mean is West Ham paying any more, so it does not move us further towards our core objective.
On Tuesday London Stadium owners E20 announced that LS185 has been brought in-house. The agreement will help get the stadium "on a firm financial footing", the company said.
Thanks for highlighting that, it had slipped past me. However even after reading the full statement I am puzzled about what this actually means.
LS185 is a sub-unit of Vinci, a private company, who won the contract to operate the Stadium. They are both responsible for all match day operations, and for bringing in new events. Seems to me to imply the contract has been cancelled, but nowhere does it say that.
If anyone else can shed light on this, I'd be very grateful. We have a meet on 31 Jan with Len Duvall at City Hall, so I'd like to get my head around what this might mean. What it does not mean is West Ham paying any more, so it does not move us further towards our core objective.
If you go to companies house you will see that all the Vinci directors at LS185 resigned yesterday and new directors appointed. So it would seem Vinci are no longer involved.
I didn’t read the Article in the Times this morning (just skimmed over it) but it looked like West Ham want LS185 to share the cost of the fine. Needs reading rather than taking my summary as gospel.
On Tuesday London Stadium owners E20 announced that LS185 has been brought in-house. The agreement will help get the stadium "on a firm financial footing", the company said.
Thanks for highlighting that, it had slipped past me. However even after reading the full statement I am puzzled about what this actually means.
LS185 is a sub-unit of Vinci, a private company, who won the contract to operate the Stadium. They are both responsible for all match day operations, and for bringing in new events. Seems to me to imply the contract has been cancelled, but nowhere does it say that.
If anyone else can shed light on this, I'd be very grateful. We have a meet on 31 Jan with Len Duvall at City Hall, so I'd like to get my head around what this might mean. What it does not mean is West Ham paying any more, so it does not move us further towards our core objective.
Isn't Len Duvall a West Ham fan?
Yep, season ticket holder (declared interest), which is one reason why I've been wary of talking to him up to now, the other being that he never seemed to ask any tough questions in the relevant meets (in fact Caroline Pidgeon is the only AM who does). He had also never responded to our emails sent to all AMs.
However when rather speculatively I wrote to him as a "constituent" rather than as an OSC rep, I was surprised how quickly and positively he responded.
We want to try to persuade him that as a West Ham ST holder we suppose he has "good offices" with West Ham that could allow him to be the mediator who persuades them to be good corporate citizens a nd cough up more. But of course while he is in the West Ham tribe, Brady is in a quite different political tribe.
Comments
It's exactly what you said. We have argued that if West Ham want the extra seats, they should give up the retractable seats, quid pro quo. If they agreed to that, it would bring the taxpayer an extra £4.5m per annum, the cost of removing and putting back those ridiculous retractables. Instead they've just given them those extra seats for just 10% of that amount, meaning that the taxpayer will be paying £10-12m per annum to keep West Ham in clover. Pathetic.
https://www.bbc.co.uk/news/uk-wales-46526716
West Ham United, step up and collect your award...
West Ham United paid Baroness Brady £438,000 for consultancy work last season on top of her £898,000 salary, the club’s annual accounts have revealed.
Brady was paid via her company BKB Media Ltd for work in connection with the sale of ten per cent of the club to the American billionaire Albert “Tripp” Smith. She is the only director of BKB Media, which had assets of £2.6 million in its most recent accounts.
West Ham paid Brady £365,000 plus VAT for her work. A club spokesman said it was extra consultancy work “outside the scope of her role as vice-chairman, and was paid accordingly as an external consultant”.
The accounts also disclose that the co-owners David Sullivan and David Gold were paid £4.6 million in August — £2.3 million each — as interest on their loans to the club of £45 million.
When Smith purchased ten per cent of the club in September 2017 he made a loan of £9.5 million to West Ham, via the company WHU LLC. Unlike the loans from Sullivan and Gold, this is interest-free and repayable if there is a change of ownership.
The club made a net profit of £17.3 milllion in 2017-18, down from £43 million the previous season. The wage bill has risen to £106.6 million from £95 million, and the accounts show they spent £89.5 million on transfers during the summer. The move from Upton Park has yet to pay off — matchday income last season dropped to £24.5 million compared with £26.9 million in the final season at their former ground.
The last bit about matchday income is interest.
On Tuesday London Stadium owners E20 announced that LS185 has been brought in-house. The agreement will help get the stadium "on a firm financial footing", the company said.
https://www.bbc.co.uk/sport/football/46956887
LS185 is a sub-unit of Vinci, a private company, who won the contract to operate the Stadium. They are both responsible for all match day operations, and for bringing in new events. Seems to me to imply the contract has been cancelled, but nowhere does it say that.
If anyone else can shed light on this, I'd be very grateful. We have a meet on 31 Jan with Len Duvall at City Hall, so I'd like to get my head around what this might mean. What it does not mean is West Ham paying any more, so it does not move us further towards our core objective.
However when rather speculatively I wrote to him as a "constituent" rather than as an OSC rep, I was surprised how quickly and positively he responded.
We want to try to persuade him that as a West Ham ST holder we suppose he has "good offices" with West Ham that could allow him to be the mediator who persuades them to be good corporate citizens a nd cough up more. But of course while he is in the West Ham tribe, Brady is in a quite different political tribe.
It's going to be interesting though.
Not West Ham related but thought it may be worth mentioning on this thread especially.
Heard today that West Ham are increasing ST prices by 20%...