Flashback 11 Years
BBC
3 June 2011
Tony Fernandes hits back at West Ham owner SullivanDavid Sullivan and David Gold
Tony Fernandes has become embroiled in a war of words with West Ham owners David Sullivan and David Gold after they condemned his bid to buy the club.
On Wednesday, Fernandes, principal of the Team Lotus Formula 1 outfit, tabled an offer for the club he supports.
Sullivan branded the offer as derisory, telling London's Evening Standard: "He wanted 51% of the club for two bob."
Fernandes responded: "Make up your mind Sullivan and Gold. One minute you say no offer then you say it's a joke."
The Malaysian businessman, responding to Sullivan's comments on social networking website Twitter, added: "It was a good offer with good money and brought in good people.
"Gold and Sullivan can say whatever they want. I have been a lifelong fan and would have brought good money, good ideas, new people and a new belief.
“We're interested in finances coming into the club, we welcome that”
West Ham co-owner David Gold
"As for PR stunts. Wow. They are always in the press making huge claims. Were we not supposed to be in Europe. Now we have been relegated. Two sacked managers. All good players will be sold.
"No new training ground which is the most important ingredient I feel. Look at how many injuries we have. And more investment into the academy."
Sullivan had said on Thursday: "He thinks somehow that we are desperate to have him involved or desperate for the small amount of money he offered for 51% of the club."
However, West Ham co-owner David Gold had earlier stated he was interested in talking to the Malaysian.
"We're interested in finances coming into the club, we welcome that," said Gold.
"I certainly would be very happy to sit down with Tony with a view to him joining the board and bringing in desperately needed finance."
In 2009, Fernandes first expressed an interest in taking over at Upton Park but lost out on that occasion to Sullivan and his business partner Gold.
"We are not looking to sell the club but, as we have always said, we would love co-investors to join us in rebuilding West Ham United, which has been our aim ever since we took charge back in January 2010," added Sullivan.
"In the event that a serious investor came forward as was the case at Chelsea and Manchester City, we would naturally consider it for the good of the club - but this is certainly not the case in this instance."
Fernandes is a life-long West Ham fan but had previously been linked with investing in Norwich, near where his F1 team are based.
Tony Fernandes
Businessman Fernandes received the CBE earlier this year
But two days ago he tweeted: "Can I just say to all. Norwich doesn't need me and they are doing great. Not interested in buying them or any other club. Only West Ham if deal makes sense."
Meanwhile, newly appointed West Ham manager Sam Allardyce hopes that any change of ownership does not impact on him, as it has done in the past.
"My information, having spoken to David Sullivan, was that he did not want to sell West Ham football club, because it is his club," Allardyce told Sky Sports News. "It is the club he has always supported.
"That was one of the reasons why I took the job, because I didn't want any fractions in terms of change of ownership.
"My reputation has already suffered wrongly by new ownerships at Newcastle and Blackburn dispensing of my services when there was no real credibility in that other than the fact that they were new owners and didn't want me.
"It wasn't down to results, it wasn't down to the way I have performed as a manager, so, if that's the case and that materialises then obviously I am surprised at that."
www.bbc.co.uk/sport/0/football/13620939
TELEGRAPH
Tony Fernandes blasts West Ham co-owner David Sullivan over bid criticismTony Fernandes has hit back at West Ham owners David Sullivan and David Gold after his bid to buy the club was criticised.
By Telegraph staff and agencies8:38AM BST 03 Jun 2011
Fernandes, the Malaysian businessman behind AirAsia and the Lotus Formula One team, announced yesterday he had submitted an offer for the club he supports.
But Sullivan told the Evening Standard yesterday: "Tony Fernandes wanted to buy 51 per cent of the club for two bob."
Fernandes, though, fired back with a series of messages on Twitter.
"Make up your mind sullivan and gold. One minute you say no offer then you say its a joke offer. It was a good offer with good money and brought in good people."
Three follow-up messages said: "Gold and sulivan can say whatever they want. I have been a lifelong fan and would have brought good money, good ideas, new people and a new belief
"As for PR stunts. Wow. They are always in the press making huge claims. Were we not supposed to be in europe. Now we have been relegated. 2 sacked managers. All good players will be sold.
"No new trainning ground which is the most important ingredient I feel. Look at how many injuries we have. And more investment into the academy
Sullivan had said yesterday: "He thinks somehow that we are desperate to have him involved or desperate for the small amount of money he offered for 51 per cent of the club."
Fernandes first expressed an interest in taking over West Ham in 2009 but he lost out on that occasion to Sullivan and his business partner David Gold.
Sullivan and Gold do want to attract new investors into a club that is saddled with debts that could rise to over £100 million following relegation from the Barclays Premier League.
"We are not looking to sell the club but, as we have always said, we would love co-investors to join us in rebuilding West Ham United, which has been our aim ever since we took charge back in January 2010," said Sullivan
"In the event that a serious investor came forward as was the case at Chelsea and Manchester City, we would naturally consider it for the good of the club - but this is certainly not the case in this instance."
www.telegraph.co.uk/sport/football/teams/west-ham/8554097/Tony-Fernandes-blasts-West-Ham-co-owner-David-Sullivan-over-bid-criticism.html
GUARDIAN/Jamie Jackson
Tony Fernandes uses Twitter to say West Ham United bid is genuine
• Tony Fernandes says he has made 'good offer'
• Says he would bring 'new belief' to club @jamiejackson___
Friday 3 June 2011 06.02 EDT First published on Friday 3 June 2011 06.02 EDT
Tony Fernandes, the head of Formula One's Team Lotus, has hit back at denials from David Gold and David Sullivan that he has made an offer to buy West Ham and criticised the co-owners' management of the Championship club.
Using Twitter, the Malaysian businessman said: "Make up your mind Sullivan and Gold. One minute you say no offer then you say its a joke offer. It was a good offer with good money and brought in good people. Gold and Sullivan can say whatever they want. I have been a lifelong fan and would have brought good money, good ideas, new people and a new belief."
On Wednesday, Fernandes used Twitter to say that he had made the offer to purchase West Ham, leading Gold and Sullivan to question whether it was only a publicity stunt.
Using Twitter, Fernandes denied this. He said: "As for PR stunts. Wow. They are always in the press making huge claims. Were we not supposed to be in Europe? Now we have been relegated. 2 [sic] sacked managers [Gianfranco Zola a year ago and Avram Grant last month]. All good players will be sold. No new training ground, which is the most important ingredient I feel. Look at how many injuries we have. And [we need] more investment into the academy."
www.theguardian.com/football/2011/jun/03/tony-fernandes-west-ham-united
MAIL 16 May 2011
Tycoon Fernandes ready to revive West Ham interest as experts sound debt warning
By Sportsmail Reporter
Tony Fernandes is ready to revive his interest in West Ham answering an apparent plea from supporters.
The Air Asia tycoon and Team Lotus Formula One boss revealed on social networking site that he will reconsider his plans to invest in the east London club just a day after their relegation to the Championship was confirmed after losing to Wigan.
He posted on Twitter: 'Gutted to see west ham relegated. How do u go from 2-0 to lose 3-2. If the fans want me to get involved I will.
'It's a great club and we fans have suffered to long.'
Hammer time: Air Asia tycoon Tony Fernandes has revealed he is willing to reconsider plans to get involved with West Ham
Hammer time: Air Asia tycoon Tony Fernandes has revealed he is willing to reconsider plans to get involved with West Ham
Just over 18 months ago, Fernandes was keen on taking the club over from the former financially embattled Icelandic regime. Despite his serious interest a deal failed to materialise and he lost out to current co-owners David Sullivan and David Gold.
The 47-year-old Hammers-supporting entrepreneur was invited to form a partnership with Gold and Sullivan but he declined since he wanted full control.
It is unclear whether his latest admission means he would reevaluate his decision or stage a complete takeover bid.
Although their popularity has seriously waned with West Ham fans following their Premier League demise, it is is unlikely Gold or Sullivan would be willing to part with the club - despite a serious level of debt that faces them.
The duo, who sacked manager Avram Grant after their costly 3-2 defeat at Wigan on Sunday and are searching for a swift replacement, face a monumental task to keep the club afloat, according to financial experts who have estimated their level of debt could surge past the £100million mark due to relegation.
David Bick, chairman of Square 1 Consulting, states that the Hammers' descent into the npower Championship will cost them up to £50million.
Hammer blow: West Ham's players can't hide their disappointment after failing to beat the drop
Decision time: Co-owners David Sullivan and David Gold must choose a successor to Avram Grant in the Upton Park hot seat
Sullivan admitted last week that in the event of relegation, he and Gold would have to raid their personal fortunes for between £20-£40m to keep the club afloat.
Bick fears a precarious future for West Ham if the joint chairmen refuse to provide finance during their campaign in the Championship.
'The loss of income from relegation, and this figure factors in the parachute payments, will be between £40-£50m net,' he said.
'Apart from the loss of media money, there is bound to be a loss in season ticket income, hospitality and other matchday income.
'The Premier League division payment is about £50m while the parachute payment for the first year is £16million, so there's an immediate loss of £34m.
'If they don't secure promotion immediately, West Ham's position will get more severe.
'Given their current position with debts of £80m, it would be impossible to raise finance from bank loans now.
Hammer blow: West Ham's players can't hide their disappointment after failing to beat the drop
Hammer blow: West Ham's players can't hide their disappointment after failing to beat the drop
'If the chairmen put in more money as loans rather than shares, that will only worsen the position.
'Sullivan has talked about loans of £20-40m, so the debts could rise to £100-£120m.
'That's a huge number for any club, but especially for a club in the Championship.
'If the owners put that money in, the club's position will be guaranteed for next season.
'If they don't I'd certainly fear for the future of West Ham.'
Bick insists the financial implications of relegation will be felt almost immediately which could increase the fans demand for Fernandes to jump on board as soon as possible.
'It's a very sharp drop in income in a short space of time,' Bick added.
'An additional problem for West Ham is that they're still due to make payments to Sheffield United after the Carlos Tevez affair, and I believe those payments are made in August.'
www.dailymail.co.uk/sport/football/article-1387634/Tony-Fernandes-ready-revive-West-Ham-interest.html#ixzz2Tg5rAu00
(Or Norwich)
MIRROR
F1 boss still fancies buying into Norwich
Published 13:48 27/05/11 By MirrorFootballTeam Lotus principal Tony Fernandes has revealed he would consider investing again in Norwich after admitting he considered doing so last year.
Malaysian entrepreneur Fernandes decided against putting money into the Canaries while they were in League One, preferring to focus on his Norfolk-based Formula One outfit.
The 47-year-old Air Asia founder - said to be worth more than £185million - said in the Norwich Advertiser: "We talked, we talked definitely and there was a whole emotional appeal of everything Norfolk and green and yellow, and it made sense.
"And there's no reason why we can't work together in the future and do things together."
Norwich this month secured historic back-to-back promotions to return to the Barclays Premier League.
"I'm thrilled at what's happened at Norwich - and I've also got to know my own capabilities in life and you don't want to give yourself indigestion," added Fernandes, who failed in an attempt to buy West Ham at the start of 2010.
"It's fun - I tried to buy West Ham and failed, and it was probably the best thing that ever happened to me."
A Hammers fan, Fernandes also revealed following the club's relegation that he was in discussions to invest in them.
www.mirrorfootball.co.uk/news/Norwich-F1-chief-and-Air-Asia-founder-Tony-Fernandes-said-to-be-worth-almost-200million-has-revealed-he-would-consider-investing-in-club-article741236.html
And earlier West Ham Effort
Telegraph Jan 2010Tony Fernandes flies home from failed West Ham bid with mixed feelings
Asian businessman Tony Fernandes has spoken about his sadness in failing to take control of West Ham United.
By Jason Burt8:00AM GMT 21 Jan 2010 Comment
He also said that he needed to buy the club outright to make it a success.
In an interview with Telegraph Sport, Fernandes also revealed that he had tried to buy West Ham before the Icelandic takeover in 2006 and had also had discussions a year ago when “the price they were asking was ridiculous”.
Fernandes said he would consider David Sullivan’s offer to take the remaining 50 per cent stake in West Ham — and had already received a text from the vice-chairman Karren Brady asking him to invest – but feared that he was unlikely to accept. “I can’t be a sleeping partner,” he said. “You only have one leader, one strategy.”
The 43-year-old entrepreneur, and chief executive of Air Asia, flew back to Malaysia immediately after being informed that he had lost out to Sullivan to become the club’s owner on Monday night.
Although he believes West Ham are in a parlous state, after the botched Icelandic ownership, he put forward a plan, to be executed over three years, to turn the club around and was confident he could do so.
However, key to his proposals was gaining full control and buying out the failed Icelandic bank, Straumur, which still owns 50 per cent of the club and hopes, therefore, to gain a bigger return for its shareholders.
Fernandes, who is believed to be worth £400million, has also been angered by suggestions that he failed to demonstrate that he has the funding for the deal. “The money is with Olswangs [the solicitors] and I’d like to see anyone disprove that,” he said.
“I would have completely re-financed the club so that it did not have to sell on its young talent again,” Fernandes explained. “To do that I would have needed to get to grips with the balance sheet. But I could not do that by working with a bank that was effectively in liquidation.
I put forward a very detailed plan and explained why I needed 100 per cent control. But we just ran out of time. Straumur said they had to sell on that day [Monday] but we needed another five or six hours. I thought we had done it.
“If you were buying another club, for example, it would be more straight-forward. You would put in your bid, do the due diligence, complete the deal. With West Ham there was Straumur to deal with, who are working under Chapter 11 receivership, and you have a bunch of banks. The owners were bankrupt and the asset itself was, really, insolvent.
There were the owners, the people who own the owners, and the banks. It therefore became evident to me, having started with a negotiation over taking 50 per cent, that the only way to make the club successful would be to gain 100 per cent. Otherwise it was too complicated.”
Fernandes outlined five points in his plan although, understandably, he did not go into too much detail as he does not want it in the public domain. After all, he may eventually become involved in West Ham.
However he said he would have:
1) Fixed the balance sheet, which would involve paying down the debt and “reworking the asset structure of the club”.
2) Invested in Rush Green, the new training ground, very quickly and reworked the scouting system to take a more “French” approach by running an academy on a “European basis”.
3) Brought in new revenues “from a variety of ideas”. He revealed one of these would have been to use technology and social networking sites to make West Ham more accessible around the world.
4) Created partnerships with Formula One (he is team principal of Lotus) to generate money, eg from sponsorship, which would benefit both sides.
Fernandes added: “I see West Ham as the unpolished diamond of the Premier League. It should be a larger and more successful club than it is and so, when the chance came around again to buy it, I felt I could do it and fulfil an ambition.
“I have faith in [manager Gianfranco] Zola and the management team. It wasn’t their fault the club are in the predicament they are in and I genuinely believe Zola will be one of the managerial greats. I made no promises except West Ham would never again be in the situation it finds itself in now.”
Fernandes said that Sullivan had put forward a professional bid and he wished him success. Asked about whether he would invest, he said: “I would have to see whether they share the same vision, otherwise it could be a calamity for the club.
You can only have one leader, one strategy. But I’m never one to say no to anything, especially as I’m very passionate about the club. On the positive side the club has a new owner and it has ended the uncertainty.”
www.telegraph.co.uk/sport/football/teams/west-ham/7039018/Tony-Fernandes-flies-home-from-failed-West-Ham-bid-with-mixed-feelings.html
