Hammers cash riddle

But for the grace of god there go we.

Gold has just confirmed that they 'inherited' this situation.... However the porn guys have been there for quite a while now...

We used to do this crazy **** too..

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Are parachute payments the exact same as the money they would receive next year? If not, what happens if they get relegated?! To be honest that's both bulls**t and cheating...

 

This is the sort of thing The Fat Controller was up to before he sold to Ashley, he mortgaged future ticket sales to fund transfers and deferred payments, Everton secure their overdraft based on future TV revenue, there are quite a few clubs on the edge financially as they don't have an owner who has the financial resource to bail them out if it goes wrong, a lot of clubs are also moving debt by deferring %ages of transfer payments. I will be interested to see Liverpools next accounts as I think they are building some debt structure there. As for West Ham it kinda makes me laugh when everyone got on their high horse about Wonga being our sponsor yet nobody worried about Pornographers owning a club.

The footnote to all of this of course is Portsmouth and Leeds, they really are the showcase for when it all goes wrong, you have to feel for Leeds as I think they are in even more trouble with the owner they have now than before if possible, it just shows that he sacked the manager and the compo battle is for £10,000 how cheap and sad is that, a reflection of the owner and his methodology.