Gold demands points penalties to curb debts
Cahal Milmo is the chief reporter of The Independent and has been with the paper since 2000. He was born in London and previously worked at the Press Association news agency. He has reported on assignment at home and abroad, including Rwanda, Sudan and Burkina Faso, the phone hacking scandal and the London Olympics. In his spare time he is a keen runner and cyclist, and keeps an allotment.
Tuesday 16 February 2010
David Gold, the co-chairman of West Ham United, has called on his counterparts in the Premier League and the league itself to help "save us from ourselves".
Gold, who took over at Upton Park with David Sullivan last month, suggests that a points deduction for clubs who exceed certain levels of debt – or any regulations introduced to deal with the increasing financial worries – is the only means of control worth exercising.
"We have got to be saved from ourselves," Gold said last night. "For 18 years the Premier League has been an absolutely outstanding product, but we are in danger in our pursuit of success, or avoiding relegation. We are in a competition with each other that is so ferocious it is bringing us to the brink. Points deduction is the only power – the only thing the clubs understand is loss of points."
Gold's plea came on the same day that Dave Whelan, the chairman of Wigan Athletic, wrote to Richard Scudamore, the Premier League's chief executive, proposing that clubs should not be permitted to borrow more than 25 per cent of annual turnover.
"We need to take our own action – we need some leadership," Gold told Sky News. "I am only paying wages beyond our means simply to compete with our competitors. Dave Whelan is on the right track, but miles out with 25 per cent. Manchester United [with debts of £716.5m] are on 250 per cent."
Gold also revealed that West Ham have "started the process" of making an approach to the Government over buying or leasing the Olympic Stadium.
Latest in Sport
Manchester United can learn lessons from the transfer template of rivals Manchester City
Manchester City, Manchester United and Chelsea top the list of the Premier League's most expensive squads
Harry Kane: Tottenham striker confident of rediscovering goal-scoring form after chat with Alan Shearer
Cyprus vs Wales match report: Gareth Bale's bullet header has Welsh on brink of Euro 2016
Bayern Munich 'training camp' to supply refugees with food, footballs and German lessons
- 1 If these extraordinarily powerful images of a dead Syrian child washed up on a beach don't change Europe's attitude to refugees, what will?
- 2 Senior British politicians tell David Cameron: When dead children are being washed up on beaches – it's time to act
- 3 Make your voice heard: Sign The Independent's petition to welcome refugees
- 4 Refugee crisis: Aylan's life was full of fear - in death, he is part of 'humanity washed ashore'
- 5 German police forced to ask public to stop bringing donations for refugees arriving by train
Senior British politicians tell David Cameron: When dead children are being washed up on beaches – it's time to act
Britain to take more refugees as Cameron bows to pressure after more than 200,000 back our campaign
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
If these extraordinarily powerful images of a dead Syrian child washed up on a beach don't change Europe's attitude to refugees, what will?
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up