West Ham was a 'car crash' says Gold
Tuesday 26 January 2010
David Gold believes he and fellow West Ham co-owner David Sullivan overpaid for the debt-ridden east London club, which he has described as a "car crash".
The duo, who have strong roots in the area, have bought a controlling stake in the club for £50million and soon after completing their takeover went public with the Hammers' financial problems.
Gold admits he and Sullivan were "mad" to pay what they had and only did it because of their emotional attachment to the club.
He told the Daily Telegraph: "It's madness what we have paid. The place was a car crash. Every page we turned in every document revealed yet another problem. It was the worst set of figures I have seen."
Gold, who along with Sullivan was the former co-owner of Birmingham, believes in general terms the men running the finances of Premier League clubs have "lost the plot".
The 73-year-old said: "You have to say I'm certifiable, potty. There's no other business like this. In fact that's a misnomer, it's not a business. We've lost the plot.
"The Premier League is pulling in more money than any other league the world has ever known, yet show me a club making a profit. It's insane."
Latest in Sport
Paul Scholes: Manchester United vs Liverpool - I don't understand why Brendan Rodgers was not more attacking against Basel
Jesus Christ plays for Chelsea - that's what one in five children thinks
Transfer Talk: Nemanja Vidic to return to Manchester United; Hazard to leave Chelsea; Sunderland want Radamel Falcao
Frank Warren column: Don't bet on Amir Khan landing pay day against Floyd Mayweather
Manchester United transfer news: Kevin Strootman move edges closer
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
Shock poll shows voters believe Ukip is to the left of the Tories
New era of cheap oil 'will destroy green revolution'
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Ukip founder Alan Sked and Nigel Farage 'begged Enoch Powell to stand as a candidate'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant