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West Ham to be purchased by Media Sports Investments


John Simkin

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Sometimes I believe there may be a god after all

http://www.tribalfootball.com/article.php?id=10663 :):lol::lol:

Good one Andy. If this one goes ahead I will have to reconsider my position as a West Ham supporter. However, it is as trustworthy as Sun's headline earlier in the week when it said that Tony Blair would stay in power to next summer.

B)

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Sometimes I believe there may be a god after all

http://www.tribalfootball.com/article.php?id=10663 :):lol::lol:

Good one Andy. If this one goes ahead I will have to reconsider my position as a West Ham supporter. However, it is as trustworthy as Sun's headline earlier in the week when it said that Tony Blair would stay in power to next summer.

B)

Come on!

I put up with Graeme Souness B)

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The Sunday Times today named one of those involved in the bid for West Ham. Eli Papouchado owns a multinational property company (Red Sea Group) based in Israel. He has no interest in football and sees it as a good investment. It is linked to this idea owning players and then selling them on for a profit. It is something that has been going on for some time in South America. Kia Joorabchian has convinced Papouchado that the scheme can work in England. It is important to get control of players at an early stage in their careers. The success of West Ham Academy over the last few years makes the club an attractive proposition.

It is still debatable if Kia Joorabchian can persuade enough millionaires to buy into his scheme. Two key investors in MSI, Boris Berezovsky and Badri Patarkatsishvili, have both rejected the scheme. That is why Kia Joorabchian has resigned from MSI and is attempting to create another team of investors to make the deal.

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Sometimes I believe there may be a god after all

http://www.tribalfootball.com/article.php?id=10663 :rolleyes::rolleyes::lol:

Good one Andy. If this one goes ahead I will have to reconsider my position as a West Ham supporter. However, it is as trustworthy as Sun's headline earlier in the week when it said that Tony Blair would stay in power to next summer.

B)

Come on!

I put up with Graeme Souness :D

Sorry guys, but as Spurs fans had to put up with Terry Neill and George Graham, never mind other woeful management skills employed in that office, these are minor complaints!

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Interesting article in today's Guardian that ends with the following passage:

http://football.guardian.co.uk/News_Story/0,,1872025,00.html

The febrile climate of the Premier League has also helped create favourable conditions for investors. With the wealth gap at the top growing all the time, supporters know that only hard cash can narrow the gulf, and they are increasingly unfussy about where it comes from.

Another attraction for investors in West Ham lies in the 2012 Olympics. The Games are expected to transform east London, and in six years there will be not only an Olympic Park, shopping centre and new housing, but a new 80,000-seat stadium, which the Hammers are known to be interested in occupying.

Another reason for Mr Berezovsky being drawn to the club may lie in his relationship with Mr Abramovich, who was first his protege, and then partner in the biggest privatisation deal, which saw the creation of Sibneft, a massive oil company, 10 years ago.

After Putin rounded on many of Russia's leading businessmen six years ago, in an attempt to retrieve the Russian state from the oligarchy, he went first for Mr Berezovsky, the richest and most powerful of them all. Since that point, Mr Abramovich appears to have outplayed and outmanoeuvred his former mentor at every turn.

Mr Berezovsky was first forced into exile then pressured into selling many of his assets back to the state. Today he is estimated to be down to his last £800m. The Chelsea owner, on the other hand, remains on Putin's good side, is close to the president's likely successors and spends much of his time in Moscow. He is making money hand over fist. And since buying his west London football club, he has woven his way into the cultural fabric of another nation in a way which brings adulation and, perhaps, security.

So, some people in Moscow are thinking, could Berezovsky be buying up Chelsea's East End rivals simply to unsettle Abramovich?

Are we about to witness football as a Muscovite street fight by other means?

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  • 2 weeks later...
West Ham have not won a game since their mysterious foreign imports arrived. What conclusions can be drawn from this?

In fact they were playing badly before they arrived (they just had more luck then). I fear that they over-performed last year and they are going to have a difficult season. Hopefully, they will not repeat what happened to Ipswich a few years ago. Like West Ham they got into Europe in their first season after being promoted. They brought in some foreigners on high wages to bolster their young, British squad. They got knocked out of Europe in the first round, were relegated, and have been struggling ever since.

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West Ham have not won a game since their mysterious foreign imports arrived. What conclusions can be drawn from this?

I'm sure there's a conspiracy theory out there somewhere to do with MSI driving down the price of West Ham...

Perhaps there's the chance of BOGOF with a deal for the equally rubbish Spurs :D

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  • 1 month later...

A board meeting is taking place today to discuss the bid made by Kia Joorabchian and Eli Papouchado for West Ham. It seems they are offering a £100m debt-plus-equity takeover of the club. However, Papouchado is a property developer and it is clear that his main concern is to get hold of the land that West Ham owns. The idea is that by taking over the Olympic Stadium he will be able to make full use of this land.

Terence Brown and Paul Aldridge met recently with Tessa Jowell about the prospect of using the Olympic Stadium. At that meeting she told them about the £100m price tag and stressed that they would have to keep the running track and meet the cost of building a dual-use stadium. Jowell told The Sunday Telegraph: "They said they would obviously not be interested on that basis."

Speaking to BBC Five Live on Sunday, Lord Coe said any club interested in taking over the stadium would have to stump up £100m and agree to keeping the running track around the pitch. "At the current moment, none of the clubs taking a look at this are remotely in the same ball park," said Coe.

Papouchado would struggle to make a profit out of such a deal and I suspect that his bid has already been withdrawn. That will be good for the club as if Joorabchian and Papouchado take over the club they would bring in someone like Eriksson and fill the team with foreigners.

I expect Brown to begin serious talks with Eggert Magnusson after today’s board-meeting. His offer is only £75 million but this includes a substantial amount of money to buy players in January. More importantly, he wants to keep Pardew in charge. If that is the case, Pardew will be able to bring in the most talented home-grown talent available to West Ham.

By the way, I believe that this forum got a scoop when I first posted this story originally on 31st August. It was pure speculation on my part and was not based on any other news source.

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As I predicted the Kia Joorabchian and Eli Papouchado deal is off. Icelandic businessman Eggert Magnusson has now been allowed him to inspect the club's accounts. West Ham directors were told at a board meeting today that Magnusson will be allowed to carry out due diligence.

According to the BBC website: "Magnusson is thought to have indicated that his consortium is prepared to pay £75m for the club, with most of it coming from equity rather than borrowed money, and would also take over the £23m debt. He is also committed to providing money for new signings in the January transfer window and to keeping faith with under-pressure manager Alan Pardew."

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