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

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'. 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. Gold admits he and Sullivan were 'mad' to pay what they had and only did itbecause of their emotional attachment to the club.  New owners: Sullivan (left) and GoldHe 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. 'It was the worst set of figures I have seen.' 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'. 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. '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.'  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  

Source: Daily_Mail