Daily WHUFC News - 26th September 2013

Collison glad to play his part
WHUFC.com
Jack Collison had a spring in his step after helping the Hammers see off a
stubborn Cardiff City side
25.09.2013

Jack Collison was satisfied with a job well done against Cardiff City, as
his perfect centre paved the way for Ricardo Vaz Te to nod West Ham United
into the last 16 of the Capital One Cup. After racing into a two-goal lead
inside just seven minutes, the Hammers had to contend with a spirited City
fight-back, one that left the contest seemingly poised for extra-time. But
Vaz Te's 88th-minute intervention ensured Sam Allardyce's men would, this
time, finish on the right side of a 3-2 scoreline, a result that Collison
thought was just reward for their evening's work. He told West Ham TV: "We
made a magnificent start to the game, we started like a house on fire. We
had chances and we really should have put the game to bed. "But they're a
side full of quality and [Craig] Noone has come in and scored a good goal to
make it 2-1 at a half time. It was a different game second half. We were a
bit sloppy at times with the passing, but maybe you're going to get that
with boys who haven't played so much. "Fortunately, Vaz pops up with another
important goal, which he always seems to do. I thought we thoroughly
deserved the win, so we're all very grateful that Vaz was on the end of it."


Speaking of his crucial and brilliantly executed role in the winner, the
Welsh midfielder admitted he is working hard to continue producing moments
of such quality in the final third. In fact, but for an athletic one-handed
Joe Lewis stop, he might have had a goal to celebrate too, as his long-range
volley threatened to dip beneath the crossbar. "It's something I'm trying
to work on, getting in those positions more regularly," he explained. "If I
can do it in the League Cup games, then, if the Gaffer ever needs me on the
Saturday hopefully I can take it into a Premier League game. "It would have
been nice if it [the volley] had dropped in, it might have taken the
pressure off us a little bit. But I'm just enjoying playing. It's nice to be
out on the pitch."

Having featured just once in the Barclays Premier League this term, Collison
is, naturally, itching to play his part. First on the agenda is Saturday's
trip to Hull City's KC Stadium, where he has twice netted in the past, most
recently in a 2-0 Championship success in November 2011. He continued:
"On a personal level it has been a frustrating start to the season. So the
League Cup has been a bit of a release for me and a chance to get out on the
pitch and have a go, and try to stake my claim for a place. "We played some
nice stuff at times against Cardiff and hopefully the manager has taken note
of that and if he needs us we're there, we're ready and we'll see what
happens. "I've actually scored two at the KC Stadium. If I'm in the squad,
first of all, it would be nice and it would be nice to get a bit of time on
the pitch. I'm just plugging away, working hard in training and hoping to
give the manager a few headaches. I know we're all looking forward to it and
to get back to winning ways."

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Burnley away in Round Four
WHUFC.com
The draw for the Fourth Round of the Capital One Cup was made on Wednesday
evening
25.09.2013

West Ham United have been drawn away at Burnley in the Capital One Cup
Fourth Round. The Hammers will travel to the Championship club in the week
commencing October 28, looking to continue their best Capital One Cup run
for three seasons. Sam Allardyce's men have overcome Cheltenham Town and
Cardiff City to reach this stage, with Ricardo Vaz Te's late header sealing
victory over the latter on Tuesday. Burnley, who currently sit second in the
Championship, came from behind to beat Nottingham Forest in Round Three this
week, Danny Ings scoring both goals for the Clarets. They have also beaten
York City and Preston North End in their run to the last 16.

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The Big Interview - Ricardo Vaz Te
WHUFC.com
West Ham United's No12 on scoring important goals and being focused on his
future at the Boleyn Ground
25.09.2013

Ricardo Vaz Te has pledged his commitment to West Ham United after scoring
the winner in the 3-2 Capital One Cup third-round win over Cardiff City.
Having submitted a transfer request at the end of August after becoming
frustrated at a lack of first-team action, Vaz Te ultimately remained at the
Club and has been urged to show his worth by manager Sam Allardye and
captain Kevin Nolan. After scoring for the second Capital One Cup tie in
succession, Vaz Te confirmed his ambition to show them, his squad-mates and
Hammers fans why he believes he can be an important player for West Ham
United.

Vaz, you must have enjoyed playing and scoring the winner against Cardiff on
Tuesday evening?

RVT: "Obviously I enjoy playing and that's the reason I came here and I'm in
this business. I guess we all want to play but we can't all play at the same
time, but I got my 90 minutes on Tuesday and I was really pleased. I can
only keep knocking on the manager's door saying 'I deserve to play and I'm
ready to play' and I'm glad we won. "In the past I have created chances and
score goals. I've been asked to play different positions and I tried to
adapt as much as possible for the benefit of the team. "Obviously, I try not
to be selfish. This season I have found myself in a bit of a pickle because
I noticed that I wasn't going to be picked as the first option. I think I
deserve to be the first option so it has been very frustrating. I was happy
to get the 90 minutes and now I have to keep showing that I deserve to
play."

Your goal came at a great time, with just two minutes of normal time
remaining?

RVT: "At that stage, it was hard for Cardiff to react so it was a killer
goal, I guess. I was very pleased for myself and for the team as well. "I
think we deserved to win. We played better than Cardiff throughout but we
lost ourselves a bit in the second half and gave them the chance to come
back into the game when we should have buried them. In the end, we got the
result, we won 3-2 and I'm pleased for everybody."

It was an important result for the squad, wasn't it, particularly after the
disappointing defeat by Everton on Saturday?

RVT: "It's always good to win because you build momentum, you see. Winning
is a habit and the quicker we get that habit, the better. Obviously, it's
easy for the fans to panic when we don't win or we draw and we've lost two
games at home now, but we've got a good team and we're going to keep on
fighting.
"They shouldn't panic because we're going to get results. It's fine."

Ravel Morrison scored the opening goal and played a part in the second. As
someone who also played in the Premier League as a teenager, what do you
make of him as a player?

RVT: "He's a very talented young lad. I can say he's the biggest talent I
have ever seen [in a team I have played in]. I have played with Nani and all
sorts.
"It's up to him to become as good as he can be. If he stays focused and
hungry and shows he wants to keep improving and always learning [he can go
far].
"He has to show the desire and commitment because, in this life, to be the
best or the best you can be you can't think you have done it all. You can't
settle. You have to drive for more.

What was the reaction like from your squad-mates after you made your
transfer request and then ultimately remained at the Club?

RVT: "The players know the business and it's hard. They don't hold grudges.
None of us hold grudges. We're all professionals. Obviously I expressed my
desire to leave because I want to play. I'm not 18 any longer and I can't
keep playing those games. "The players have been wonderful. They know my
intentions, obviously, and know I have huge respect for each individual and
the manager and the Club. I didn't do it to hurt anybody - I just want to
play."

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Hammers face Burnley trip
KUMb.com
Filed: Wednesday, 25th September 2013
By: Staff Writer no,2

United have been drawn away to Burnley in the 4th round of the Capital One
Cup.

The match will be the first time the clubs have met since a 2-2 draw at Turf
Moor in the Championship in March 2012.

The full draw:

Sunderland v Southampton
Leicester City v Fulham
Birmingham City v Stoke City
Manchester United v Norwich City
Burnley V West Ham United
West Bromwich Albion/Arsenal v Chelsea
Tottenham Hotspur v Hull City
Newcastle United v Manchester City

Matches to be played in the week commencing 28 October

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Ricardo Vaz Te's transfer request 'in the past' as striker and West Ham bury
hatchet
Last Updated: September 25, 2013 5:46pm
SSN

Ricardo Vaz Te's summer transfer request is "in the past" as far as both he
and West Ham are concerned. The Portuguese forward publicly sought a move
during the transfer window and claimed "it has been made obvious to myself
and my representatives that I am not in the manager's plans". Vaz Te has not
yet started in the Premier League this season, but his winner against
Cardiff on Tuesday was his second Capital One Cup goal in as many starts in
that competition.
And with Andy Carroll injured, Mladen Petric short of fitness and Modibo
Maiga yet to score this term, Vaz Te is an option for this weekend's trip to
Hull City.
Assistant manager Neil McDonald said: "He keeps on telling everyone that he
creates chances and scores and that's what the manager wants - people to put
the ball in the back of the net. "That's a knock on the door for the
manager, he's available on Saturday against Hull and gives the manager a
nice little problem.
"You have to forget what happened in the past, maybe it was bad advice, but
he's a genuine lad who just wants to play." Vaz Te was also in conciliatory
mood when interviewed by the club's website after the game. He said: "I try
not to be selfish. This season I have found myself in a bit of a pickle
because I noticed that I wasn't going to be picked as the first option. "I
think I deserve to be the first option so it has been very frustrating. I
was happy to get the 90 minutes and now I have to keep showing that I
deserve to play. "The players know the business and it's hard. They don't
hold grudges. None of us hold grudges. We're all professionals. Obviously I
expressed my desire to leave because I want to play. I'm not 18 any longer
and I can't keep playing those games. "The players have been wonderful. They
know my intentions, obviously, and know I have huge respect for each
individual and the manager and the club. I didn't do it to hurt anybody - I
just want to play."

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West Ham striker Mladen Petric hoping to be at World Cup with Croatia
By Jure Bohoric | Last Updated: September 25, 2013 3:34pm
SSN

West Ham striker Mladen Petric is hopeful that he will make it to the World
Cup finals with Croatia. Croatia look set to finish second in Group A of the
qualifying section, meaning they will then go into a play-off for a place in
Brazil. And Petric is hoping to be involved, having returned to first-team
action with West Ham earlier this month. Petric missed out on the previous
national squads, but he puts that down to being a free agent at the time
after he left Fulham. "I definitely want to go to Brazil," he told T-portal.
"I didn't play for Croatia in their last matches just because I didn't have
a club. "But national team coach Igor Stimac has assured me that I would be
part of the team if I'm going to play for my club."

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WEST HAM'S DEBT EXPLAINED
By Sean Whetstone 25 Sep 2013 at 14:38
West Ham Till I Die

In this financial article I will attempt to explore and explain West Ham's
remaining debt position. I believe many West Ham fans still believe we have
debts of £100 million or we have to clear £70 million of bank debt before we
can move to the Olympic stadium. That is the not the case as I hope to
explain.

Net debt is just a metric that shows a company's overall debt situation by
netting the value of a company's liabilities and debts such as bank loans
with its cash held in the bank.

In 2010 David Sullivan after the take over famously revealed in a press
conference that West Ham were over £100 million in debt.

Sullivan explained "We've paid down some of the debt and injected some
working capital but there's still more than £100 million of debt. In that
there's £50 million owed to banks, there's £40 million owed to other clubs.
There's not a penny to come in, they (the previous owners) have borrowed
against the next two years of season-ticket money.
The sponsors have paid 70% of their three-years up front. In addition
there's the club's settlement to (former manager) Alan Curbishley, so the
real debt is about £110 million."


Of this non bank debt Sullivan spoke about Sheffield United is believed to
have agreed £21m in an out of court settlement although Gold & Sullivan said
they inherited around 75% that debt on takeover.

The Alan Curbishly settlement was believed to be £2.2m and the advance on
season ticket sales were £7.7m the first year and £7.25m the second year.
The SBOBET sponsorship was believed to be worth £1.2m per year much of which
was advanced also.

A massive financial mess by anyone's standards!

The 2009 accounts were the first to be released under Gold & Sullivan
ownership showed which a net bank debt of £55.47m with a further £33.65m in
other long term liabilities. These included £10m owed to a major
shareholder, £3.8m owed to other clubs for transfers and £18m to be paid to
Sheffield Utd.

In 2010 this quickly reduced to £33.5m of long term bank debt with an extra
£24m in long term liabilities which were principally £7.7m of advance season
ticket sales and £16m left to pay of the settlement to Sheffield Utd. In the
company accounts Chairman's statement David Sullivan confirmed that David
Gold & himself invested £24m into the club which resulted in a reduction of
£12m of bank borrowing and £22m of overall liabilities that year.

In 2011 Sullivan and Gold invested another £3m into the club on top of
buying further shares. In his chairman's statement of that year Sullivan
revealed that Gold and himself had invested £29m of equity and loans to the
club in the past 18 months. Despite this the bank net debt this increased by
£8.1m to £41.6m. Long term liabilities added an £27m which included the
remaining £10.5m due to Sheffield United, £3.1m owed to other clubs for
transfers and £7.25m for second year of the Season Ticket advance.

In that same statement Sullivan said "Since 31 May 2009 bank debt has
reduced from £44.9m to £38m while total net creditors have reduced from
£112.7m to £91.2m. In addition during this period we have refinanced the
bank debt and we are now on schedule to reduce bank debt to under £21m by
2013." The figure quoted by Sullivan of £91.2M obviously included creditors
due within 12 months which were offset by income that year.

In the latest 2012 financial year accounts revealed Gold and Sullivan
invested another £32.2M of cash in the form of loans after West Ham's
turnover fell drastically to £46.2m in our drop to the championship.

This further increased our net debt to £70.7m although £35m of this debt is
now owed to Sullivan & Gold through loans so actually it is only £35.7m of
external bank net debt when you remove share holder loans. Although £16m of
these share holder loans are owed to Sullivan's property company Conegate
Holdings.

Of this remaining £35.7m £5m was due in the year ending 31st May 2013 so
should already be paid off wit the remaining £30m due more than 12 months.

Of this £30M longer term bank debt only £25M is secured against the Boleyn
Ground as a mortgage so it must be paid off before we move to the Olympic
stadium. The remaining £5M of loans are unsecured so do not have that same
restriction.

I saw many papers published the £70M figure that West ham had to clear
before moving to the Olympic Stadium. Well by my calculation it is more like
£25M.

Outside of bank debts our long term liabilities mentioned by Sullivan back
in 2010 are also vastly reducing.

We owe West Ham bond holders £611,000 since 1997 which we will pay back
after 150 years of the scheme. By the time it is payable in 2148 I am sure
£611,000 will be average weekly wage of Premier league footballer so it not
a debt that should bother us too much.

We owe other football clubs £4.6M from player transfers from staggered
payments. It will be interesting how this increases in 2013 with the Carroll
& Downing transfers but more clubs want money up front now or within 12
months so staggered payments are now becoming a thing of the past unless
they are desperate to get shot of a player.

In the 'other creditors' section of our 2012 accounts there is a sum of just
over £5M, this is almost definitely the last payment to Sheffield United
which David Gold confirmed we paid very recently.

We are now also finally free of the advance of season ticket money of £7.25M
in 2011 & £7.7M in 2010. This like a new revenue stream to West Ham as the
Icelandic's banked 2 years of season ticket sales up front!

We also account for £2.5M from the Football Stadia Fund grant scheme in our
long term liabilities even although I understand this is not repayable.

So with the remaining long term liabilities listed in the 2012 accounts we
can add on another approx £5M to bring the total West Ham debt to around
£37M or £72M if you include the loans from owners Sullivan & Gold.

The 2013 accounts are released early next year and I will update the overall
debt picture as soon as they become available. The owners have certainly put
their money where their mouth is and for that I am grateful.

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