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Are Sullivan, Gold the answer to West Ham's future?

Roar Rookie
19th January, 2010
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Roar Rookie
19th January, 2010
6

The drawn-out saga of West Ham United’s ownership came to a foreseeable end today with David Sullivan and David Gold purchasing 50 percent of the club, with the option to buy the other half at the end of the season.

Will they, though, provide the stability that the supporters crave?

After the buy-out from Eggert Magnusson, the Icelandic biscuit tycoon, promises of five-year plans of Champions League football all fell apart with the Icelandic economy being in a worse financial position than Portsmouth. Mega-spending on overpaid stars, along with an unfortunate run of injuries hampered the progress that Alan Curbishley could make.

The Sullivan takeover is in somewhat similar circumstances; however West Ham’s current position is much brighter than what it was like in January 2006.

The team is playing well, and some would view the results as unlucky.

Most fans and pundits seem to suggest a striker is what is needed most, but four clean sheets in 21 league matches is not something the new owners should be looking positively on.

Sullivan and Gold have the experience of running a football club, having done so successfully for sixteen years at Birmingham, and this knowledge can only be beneficial when compared to other potential owners.

However, their press conference highlighted the pitfalls that the club is still in a financial mess.

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110 million pounds of debt, including 40 million owed to other clubs, and many future finances (including shirt sponsorship and season ticket sales) have already been used to pay debt and have been borrowed against. This paints a bleak immediate future for the Hammers, but so long as they survive for the next couple of seasons in the top flight, smooth financial footing should be provided.

There are plans to move away from Upton Park to a new Olympic Stadium built for the 2012 Olympics, along with promises that Zola will remain in charge, and a seven-year plan for Champions League football will all be things that the fans will judge the owners on.

But all fans can hope for in the short term is survival.

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