Friday, March 13, 2009

West Ham Agree to Pay £10 Million Compensation

According to The Independent West Ham have agreed to pay Sheffield United £10 million in compensation for their inability to stay in the Premier League (various news sources are now saying the figure will be between £10-£15 million). The paper say an announcement may be made today but that the finer details of the deal are still being decided upon.

The Independent says the final details of the deal will remain confidential but the £10 million is to be paid over the next five years and not as a lump sum. The damages hearing which was scheduled for Monday will now be cancelled.

The deal was apparently worked out in Brussels between Kevin McCabe and Scott Duxbury. Now that the amount of compensation has been finalised potential buyers of West Ham know the extent of the club's liabilities, which hopefully will speed up any future sale.

The Independent also say that the West Ham squad have been in Spain this week ahead of the game with West Bromwich Albion on Monday.

3 Comments:

At 8:09 AM, Anonymous Anonymous said...

glad its all over, but still wouldnt pat them a penny !!

 
At 8:40 AM, Anonymous Anonymous said...

This makes great reading http://www.bladesunited.org/
Honestly it is like that were good enough to stay up and it was only that The Mighty Hammers putting bad "Ju Ju" on them that they went down , that and the fact that they were not very good at all, has been missed some what........

 
At 11:46 AM, Blogger Keir Clarke said...

I know, this payment does stick in the craw a bit but hopefully it puts the issue (almost) to bed and should sort out the issue for potential buyers.

 

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