http://www.thesun.co.uk/sol/homepage/sport/football/2845240/Hammers-aces-in-pay-cut-shock.html
Hammers aces in pay cut shock
By ANDREW DILLON
Published: Today
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GIANFRANCO ZOLA and his highly-paid West Ham flops will be asked to take a 25 per cent pay cut.
Co-owners David Gold and David Sullivan must slash the £60million wage bill to stop the club going under - even if they avoid relegation.
And Sullivan said: "Everyone will be asked to take a cut this summer."
The owners took on huge £110m debts - and have uncovered an alarming 'fat cat' culture at Upton Park.
Midfielder Scott Parker pockets £65,000 a week - the same fee as crocked star Kieron Dyer.
Defender Matthew Upson picks up £60,000 a week and fringe defender Manuel Da Costa even gets £20,000. The wages are crippling the club.
Around 15 club staff have volunteered to take a wage cut and other cost-cutting plans are on the way.
A 'player liaison officer' - who earns £50,000 a year to drive stars around - will be hit. The officer is a close family friend of a former West Ham employee.
A fitness coach - paid a whopping £200,000 a year - and one of the club's two doctors also face the axe.
Controversial technical director Gianluca Nani is also high on the hit list.
Sullivan said: "We already had to slash 10 or 15 jobs. The club is in a mess, everyone has to pull together."
Read more: http://www.thesun.co.uk/sol/homepage/sport/football/2845240/Hammers-aces-in-pay-cut-shock.html#ixzz0f1OP8L77 (http://www.thesun.co.uk/sol/homepage/sport/football/2845240/Hammers-aces-in-pay-cut-shock.html#ixzz0f1OP8L77)
Looks like the way football could/should go. Or it will until the FA sign TV rights for 1b then everything will go back to how it was.
I wonder if mido will have to take a cut on his grand a week
Kieron Dyer's time at West Ham could cost the club a staggering £30m over the course of his four-year contract. The midfielder has started only five league matches in his two-and-a-half years at Upton Park and has yet to score.
Full story: Daily Mail
If Sullivan and Gold think they can 'save' the cheats, they need psychiatric counseling.
In the BBC report (http://news.bbc.co.uk/sport2/hi/football/teams/w/west_ham_utd/8505540.stm (http://news.bbc.co.uk/sport2/hi/football/teams/w/west_ham_utd/8505540.stm)) the account goes:
" ..West Ham's new owners say they have uncovered the severity of the club's financial position over the past few weeks and Sullivan fears that they could repeat the demise of Newcastle, who were relegated from the Premier League in 2009 after a season of off-field turmoil.
"I can't believe the contracts I've inherited," added Sullivan.
"Every position is overpaid, whether in administration or on the playing side. Everyone at the club will be asked to take a salary cut in the summer.
"The club is in a mess and we all have to pull together. If we go down, I can't even consider the situation."
Hold on. This is a businessman that purchased a large stake in a club that he failed to make diligent inquiries into their financial situation? To claim they have uncovered the financial situation in the past few weeks doesn't sound like they did too much homework beforehand, or was this another situation where the Cheats board managed to 'mislay' the appropriate paperwork? What a load of old tosh.
I can see the FA making every excuse under the sun why they shouldn't go into administration, even if they are relegated (with any luck).
It's basic bollox. Gold and Sullivan are now trying to dampen down expectations and make their excuses
Of course they knew or, if not, have only themselves to blame for not knowing.
Trying to persuade employees that its in their interests to take a 25% pay cut may well work with the non playing staff but the players have contracts which they will insist are honoured.
Mr Tony is absolutely spot on.
All this "we have uncovered all this debt that wasn't our fault" is absolutely a load of bollocks. Before anyone purchases a company, an extensive due diligence is conducted, especially of the books. This is a very calculated attempt to justify cost cutting, look good to the fans ("We are childhood West Ham Fan's and couldn't let this opportunity go to save the club in our hearts", never mind the 1 billion pound new TV deal coming up as if they didn't know).
These lads are no different than the Liverpool and Man U owners, they are in fact worse as they are playing on fan sentimentality to feck the club over for their own pockets.
The players will never get a pay cut unless the relegation clause in their contract kicks in. You can't change a contract, but you can renegotiate new ones. Again just scare tactics to see who is stupid enough to take it.
I can't believe that the press is not all over these two wideboys
if they've not performed their due-diligence, then not only are they fools but this would prove that they're not "fit and proper" to run a football club and should be expelled.
if this had happened at Pompy I think most football fans could understand, I didn't think they were in more trouble than Pompy?
I like the way The Sun says today that details of the financial problems werew released to SunSport by concerned staff at West Ham. Yeah - Sullivan and Gold. Tony is spot on. The David's are just trying to manage supporter and employee expectations by painting the worst possible picture.
You know what? I couldn´t care less whether they have done their dd, sink, swim or die. They have nothing to do with FFC so as far as Blingo is concerned I hope they all go skint. What businessmen in their right minds buy a club that is 110 MILLION in debt? Clowns the lot of them.
Quote from: blingo on February 09, 2010, 02:44:38 PM
You know what? I couldn´t care less whether they have done their dd, sink, swim or die. They have nothing to do with FFC so as far as Blingo is concerned I hope they all go skint. What businessmen in their right minds buy a club that is 110 MILLION in debt? Clowns the lot of them.
Businessmen who have loved the club all their lives with all their hearts and souls. That's who.
The hearts and souls of **** barons mind you.
Still doesn´t make sense Tony. I am also a businessman but i do my DD I think and look at and study the fundamentals and then when I think I have got it right, I go over it again, just to make sure. Sorry, but there is no sentiment in business as you are well aware. So all that baloney about they have loved the club forever and that is the reason they bought it just does not wash with me.
Obviously, Sullivan and Gold believe the cheats fans have the same amount of brains as the bimbos they hire for the movies.
On that point, perhaps 'Lumpy' Lampard will now rejoin thew spammers - same minds - gutter.