West Ham Blog with Plan #1
3 Jul 09 Introduction
The aims of this blog and my personal background.
4 Jul 09 A little bit of social history
The position of football in society from 1863 to the modern era.
8 Jul 09 Corporate structures for football clubs
FC Barcelona as a model and the structures available to clubs in this country.
12 Jul 09 Why target West Ham?
The reasons why West Ham could become an English Barcelona.
12 Jul 09 Finding the resources
An optimistic assessment.
4 Sep 09 A message to all West Ham football supporters
Patience needed.
4 Sep 09 Can fans buy West Ham?
Football Club Project Version 3.2.
6 Sep 09 West Ham United supporters
Your club needs you!
West Ham Blog with Plan #2
4 Oct 09 The philosophical background
The ideas on which the project is based.
4 Apr 10 Update
A progress report.
15 Apr 10 Why did West Ham United Supporters Trust fail?
The essential lessons to be absorbed.
1 May 10 Steadily down?
The 'noughties' - a wasted decade.
13 May 10 Struggling upwards
The key problem, with an encouraging postscript.
14 May 10 Contents and links
With continuation of West Ham Blog with Plan #2
Continuation of West Ham Blog with Plan #2
20 Aug 10 John Sweeney's summer brake?
If this programme doesn't wake up football, then nothing will.
31 Aug 10 A political solution for football?
Plan B suggests a way for fans to buy your club.
11 Sep 10 The two sides in football
The private, the public, and a possible bridge between them.
25 Sep 10 An Olympian view
Olympic Park 1 Upton Park 3
1 Jun 11 Who owns football?
A review of the book.
6 Jun 11 The appointment of a ******* football manager
An unexpected application.
7 Jun 11 Investment in football
A possible alternative club.
Friday 14 May 2010
Thursday 13 May 2010
Struggling upwards
Is there a route to the top of the football club management mountain? Sometimes it seems that 'snakes and ladders' is the most appropriate metaphor for supporters on the uphill trail. In principle the path is simple, but in practice it is full of sharp turns, blind bends, precipitous drops and difficult junctions where the way ahead seems a bit of a lottery.
Is it worth it? After all, you don't usually have a stake in the company that makes the film or a vote in the management of the theatre. You don't often get worked up about the appointment of the players in an orchestra. But somehow, football is different.
Football audiences are often large, sometimes enormous. They participate. They can influence the outcome of the entertainment. They are involved. And they are sometimes taken for granted, even abused.
So how can you start the ascent of the mountain? Nothing could apparently be easier. Buy a share in the club. Or even several shares. But supposing the owners don't want to sell you any? If the company makes widgets, they would be pleased to have your financial assistance. If they only make dreams and hopes, then the door is probably shut in your face. 'Well,' you may say, 'fair enough. Lots of doors are shut in my face.'
Why are the directors apprehensive? Do they see shareholding supporters as an unwanted, unnecessary and expensive complication, a bit of a nuisance? Probably yes. The mob at the gates is a powerful and frightening force in history.
But here's a strange fact. One of the most successful football clubs in the world doesn't react like that. The President of FC Barcelona, Joan Laporta, and his fellow board members don't seem frightened or worried. If FC Barcelona doesn't need to shut the door, why does your club?
This blog is trying to get West Ham (and other clubs) to open the door. By all means re-form a Supporters Trust if you wish, but unless its main activity is building the financial resources to buy shares in the club. I believe it would be wasting its time and, worse, the supporters' money.
How much bettter it would be if, as a first step, West Ham decided to make shares available for purchase by supporters. In present circumstances, there might be no great rush to buy. But the gesture would be significant. It could mark a change from conflict to co-operation and the start of building an English club in the image of FC Barcelona.
Why not get involved? If you would like to be informed of developments or you are able to provide ideas and expertise, please get in touch.
Postscript
David Sullivan (Chairman of West Ham) has recently written that 'in a few months' time, we are considering a general shareholding where supporters can buy shares in the football club. Every penny raised would be used to pay off debts and buy new players.'
WHAM! welcomes this encouraging development and looks forward to further details of the proposal.
Is it worth it? After all, you don't usually have a stake in the company that makes the film or a vote in the management of the theatre. You don't often get worked up about the appointment of the players in an orchestra. But somehow, football is different.
Football audiences are often large, sometimes enormous. They participate. They can influence the outcome of the entertainment. They are involved. And they are sometimes taken for granted, even abused.
So how can you start the ascent of the mountain? Nothing could apparently be easier. Buy a share in the club. Or even several shares. But supposing the owners don't want to sell you any? If the company makes widgets, they would be pleased to have your financial assistance. If they only make dreams and hopes, then the door is probably shut in your face. 'Well,' you may say, 'fair enough. Lots of doors are shut in my face.'
Why are the directors apprehensive? Do they see shareholding supporters as an unwanted, unnecessary and expensive complication, a bit of a nuisance? Probably yes. The mob at the gates is a powerful and frightening force in history.
But here's a strange fact. One of the most successful football clubs in the world doesn't react like that. The President of FC Barcelona, Joan Laporta, and his fellow board members don't seem frightened or worried. If FC Barcelona doesn't need to shut the door, why does your club?
This blog is trying to get West Ham (and other clubs) to open the door. By all means re-form a Supporters Trust if you wish, but unless its main activity is building the financial resources to buy shares in the club. I believe it would be wasting its time and, worse, the supporters' money.
How much bettter it would be if, as a first step, West Ham decided to make shares available for purchase by supporters. In present circumstances, there might be no great rush to buy. But the gesture would be significant. It could mark a change from conflict to co-operation and the start of building an English club in the image of FC Barcelona.
Why not get involved? If you would like to be informed of developments or you are able to provide ideas and expertise, please get in touch.
Postscript
David Sullivan (Chairman of West Ham) has recently written that 'in a few months' time, we are considering a general shareholding where supporters can buy shares in the football club. Every penny raised would be used to pay off debts and buy new players.'
WHAM! welcomes this encouraging development and looks forward to further details of the proposal.
Saturday 1 May 2010
Steadily down?
In retrospect, 2003 was a peak year at West Ham; not on the playing side (where they were relegated from the Premiership), but for supporter involvement in the management of the club.
Some long-term shareholders had decided to decrease the size of their holdings and these shares became available for purchase by supporters. This trend was not altogether welcomed by the directors who increasingly found themselves having to account for their decisions. As many of the new shareholders only owned a single share and took advantage of their right to attend general meetings, these events became less cosy and predictable. Especially so as some of those present were not always certain of the procedures to be followed. But they were cetainly liveley and interesting gatherings!
The opportunity for the ordinary supporter to be a shareholder disappeared at the end of 2006.
West Ham United Supporters Trust was formed in late 2001 and at its peak in 2003 had some 300 members. As previously mentioned on this site, it had its problems and only really flourished in a crisis. Its last recorded gasp was in January 2005. It must be admitted that there does not at the moment appear to be any great desire to build a long-term body to represent West Ham supporters.
Also at this time, the Hammers Bond Company (an unincorporated association of bondholders of West Ham United plc) was active. In November 1991, the Hammers Bond had been offered for sale in connection with obtaining finance for the development of the Boleyn ground. Although only 808 bonds were sold, the Bond Company became mainly a social organisation which could communicate the views of the bondholders to the football club management. Not perfect, but it certainly seemed to be effective.
Sadly, after the AGM in May 2008, nothing has been heard of the Bond Company. Letters and phone calls to West Ham have so far proved fruitless.
At the end of 2003, 'Whistle' appeared on the scene but after publication of the infamous 180 questions sent to the West Ham chairman, Terence Brown, in April 2004, the writs began to fly which, from the company's point of view, had the desired effect. 'Whistle' was silenced.
In the year ending 31 May 2006, the total emoluments paid to Terence Brown were over £1 million, about twice as much as might have been paid to the Chairman of a FTSE 100 company at the time.
On 21 Novemeber 2006, the sale of West Ham United plc to Eggert Magnusson and Bjorgolfur Gudmundsson for £85m was agreed. On 13 December 2007, Gudmundsson bought out Magnusson's holding. In June 2009, ownership passed to CB Holding, which was controlled by the Icelandic bank, Straumur.
In January 2010, David Gold and David Sullivan bought a 50% interest in the club, with an option to buy the remaining 50% in four years' time. The company was valued at £105 million including debt.
So not a very encouraging decade. But at least Premiership status has been retained, even if ordinary supporter ownership seems further away than ever. Perhaps this is the dark cloud before the silver lining.
Some long-term shareholders had decided to decrease the size of their holdings and these shares became available for purchase by supporters. This trend was not altogether welcomed by the directors who increasingly found themselves having to account for their decisions. As many of the new shareholders only owned a single share and took advantage of their right to attend general meetings, these events became less cosy and predictable. Especially so as some of those present were not always certain of the procedures to be followed. But they were cetainly liveley and interesting gatherings!
The opportunity for the ordinary supporter to be a shareholder disappeared at the end of 2006.
West Ham United Supporters Trust was formed in late 2001 and at its peak in 2003 had some 300 members. As previously mentioned on this site, it had its problems and only really flourished in a crisis. Its last recorded gasp was in January 2005. It must be admitted that there does not at the moment appear to be any great desire to build a long-term body to represent West Ham supporters.
Also at this time, the Hammers Bond Company (an unincorporated association of bondholders of West Ham United plc) was active. In November 1991, the Hammers Bond had been offered for sale in connection with obtaining finance for the development of the Boleyn ground. Although only 808 bonds were sold, the Bond Company became mainly a social organisation which could communicate the views of the bondholders to the football club management. Not perfect, but it certainly seemed to be effective.
Sadly, after the AGM in May 2008, nothing has been heard of the Bond Company. Letters and phone calls to West Ham have so far proved fruitless.
At the end of 2003, 'Whistle' appeared on the scene but after publication of the infamous 180 questions sent to the West Ham chairman, Terence Brown, in April 2004, the writs began to fly which, from the company's point of view, had the desired effect. 'Whistle' was silenced.
In the year ending 31 May 2006, the total emoluments paid to Terence Brown were over £1 million, about twice as much as might have been paid to the Chairman of a FTSE 100 company at the time.
On 21 Novemeber 2006, the sale of West Ham United plc to Eggert Magnusson and Bjorgolfur Gudmundsson for £85m was agreed. On 13 December 2007, Gudmundsson bought out Magnusson's holding. In June 2009, ownership passed to CB Holding, which was controlled by the Icelandic bank, Straumur.
In January 2010, David Gold and David Sullivan bought a 50% interest in the club, with an option to buy the remaining 50% in four years' time. The company was valued at £105 million including debt.
So not a very encouraging decade. But at least Premiership status has been retained, even if ordinary supporter ownership seems further away than ever. Perhaps this is the dark cloud before the silver lining.
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