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ENIC
- Thread starter mattls
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ricky2tricky4city
Steffen Freund
Be interesting to know the cut off timeframe wise for short term and long term debt in the transfer figures?
West Ham owe a bit of money to their owners. They're happy to just take a high interest rate instead of paying them back.
1 year. Short term had to be paid back in the next year.
Lemonade Money
Les Medley
Wait, Gold & Sullivan are owed by the club? Who got the money from the sale of Upton Park?
The people west ham owed money to.
They put in some money when West Ham were in the championship. Might have added to it later when they felt it necessary, but they've taken out almost as much in interest over the years as they initially loaned the club.
Not sure what you mean? We have a 30 year payment plan. Basically a mortgage. Which we can easily pay. Add in the massive inflation we are seeing at the moment the debt is being cut without us even doing anything. 1.9% interest compared to 10% inflation?
nelto
Sergei Rebrov
I did the Stadium Tour in between the Arsenal and Burnley matches. That place is a money making machine. Tunnel Club, Corporate boxes/hospitality, stadium tours every 15 mins, Skywalk, Season tickets, concerts, NFL, Rugby, etc, etc.
I have no concerns about our repayments for it whatsoever.
I have no concerns about our repayments for it whatsoever.
Think we have a choice of the first few years wecan just pay interest, then start cutting into the debt. But we have different deals. The £250m bond issue last summer is different to stadium debt.
ricky2tricky4city
Steffen Freund
It is, and what is the problem with that?
It's a fixed cost of circa £20m a year in interest to service for the next 20-30years. There is no motivation to pay any capital back unless we are really flush. And no motivation for our lenders to call it in as we are solid payers.
glorygloryeze
Tom Huddlestone
Can someone explain (in as much detail as they feel necessary) why this ENIC cash injection is happening now rather than, say, Summer 2019 after we lost that CL final?
Levy finally persuaded Lewis to do it after years of trying is the most likely reason.
johnola
Jermaine Jenas
Nonetheless in very short order we took an emergency loan from the government gifting unprecedented largesse. So 30 years yeah what could possibly go wrong.
What seems to be the case is that their is no plan to pay back that money. Because our debt is cheap to service.
I understand that inflation is helpful with debt but it makes a mockery of other projected cash flows too.
Further additional debt to complete the next phases of the development project are unlikely to be on good terms.
El Guepardo
Rafael Van Der Vaart
Probably hindsight too after realising what a missed opportunity it was not investing when we were at our highest for years. Now with Conte there and a chance to find success again, money has been spent.
How does it make a mockery of projected cash flows?
Our capital expenditure on the training ground and stadium has been £1.4bn since 2010.
Our gross debt is £854m.
We've already paid for £600m. Almost half of it. In 10 years, without the extra revenue of the stadium. Without the new nbc tv deal. Without the cinch and getir deals. We have another 30 years to pay the rest. We are fine.
metalgear
Luka Modric
a confluence of factors just makes it good business sense now to invest and keep us in CL, not forgetting that there is a new oil-money backed competitor entering the fray.