New West Ham owner Gold fears he paid too much for 'car crash' club

26 January 2010 12:05
David Gold believes he and fellow West Ham co-owner David Sullivan overpaid forthe debt-ridden east London club, which he has described as a 'car crash'. [LNB]The duo, who have strong roots in the area, have bought a controlling stake inthe club for £50million and soon after completing their takeover went publicwith the Hammers' financial problems. [LNB]Gold admits he and Sullivan were 'mad' to pay what they had and only did itbecause of their emotional attachment to the club. [LNB] New owners: Sullivan (left) and Gold[LNB]He told the Daily Telegraph: 'It's madness what we have paid. The place was acar crash. Every page we turned in every document revealed yet another problem. [LNB]'It was the worst set of figures I have seen.' [LNB]Gold, who along with Sullivan was the former co-owner of Birmingham, believesin general terms the men running the finances of Premier League clubs have 'lost the plot'. [LNB]The 73-year-old said: 'You have to say I'm certifiable, potty. There's noother business like this. In fact that's a misnomer, it's not a business. We'velost the plot. [LNB]'The Premier League is pulling in more money than any other league the worldhas ever known, yet show me a club making a profit. It's insane.' [LNB] Hammer time for Benni McCarthy after striker is blasted by Sam Allardyce Charles Sale: Sir Trevor Brooking echoes FA coaching rebel Portsmouth v WEST HAM: Carlton Cole back in contention for Hammers [LNB] 

Source: Daily_Mail