Topic: The most expensive drawing in history

[Alan_X]

This is the statement:

“But I think the important indicator here is this £59m charge for exceptional items and as a business that’s been in a transition, it’s about moving from where we were to where we want to be.

“We have written off a huge amount on the stadium project .

“A big chunk of that £50m loss relates to the HKS project - which is now defunct - and associated costs around that.

“With new ownership, that was kind of milling around within the club’s accounts and there was a very definite need to move that out.

Ayre said the millions spent went on a combination of design work by the previous owners who brought in their own design team from Dallas - plus legal and administrative costs around permissions and many other things.

So a huge chunk of money written off on fees for the HKS stadium and other associated costs.

If anyone has evidence of criminal activity including fraud and kickbacks, or complicity by employees and officers of the club in a coverup then please report it to the relevant authorities. If you don't then please don't post potentially libelous accusations on the site.

Otherwise it's just conspiracy stories extrapolated from personal experience and anecdote. We don't know what HKS' fee agreement was, we don't know what stage they were at or the termination clauses in their appointment. We don't know what the other costs are. Asserting that fees would be less because of early termination is not my experience (anecdote and personal experience again). I have never agreed a lower fee because a project stopped. In fact if a project has stopped and especially if I'm not going to work with that client again, I would ensure I got paid in full.

There's no doubt that the amount of money wasted is excessive, but none of us know whether it was criminality or cock-up. 

[flashman]

This is the statement:

“But I think the important indicator here is this £59m charge for exceptional items and as a business that’s been in a transition, it’s about moving from where we were to where we want to be.

“We have written off a huge amount on the stadium project .

“A big chunk of that £50m loss relates to the HKS project - which is now defunct - and associated costs around that.

“With new ownership, that was kind of milling around within the club’s accounts and there was a very definite need to move that out.

Ayre said the millions spent went on a combination of design work by the previous owners who brought in their own design team from Dallas - plus legal and administrative costs around permissions and many other things.

So a huge chunk of money written off on fees for the HKS stadium and other associated costs.

If anyone has evidence of criminal activity including fraud and kickbacks, or complicity by employees and officers of the club in a coverup then please report it to the relevant authorities. If you don't then please don't post potentially libelous accusations on the site.

Otherwise it's just conspiracy stories extrapolated from personal experience and anecdote. We don't know what HKS' fee agreement was, we don't know what stage they were at or the termination clauses in their appointment. We don't know what the other costs are. Asserting that fees would be less because of early termination is not my experience (anecdote and personal experience again). I have never agreed a lower fee because a project stopped. In fact if a project has stopped and especially if I'm not going to work with that client again, I would ensure I got paid in full.

There's no doubt that the amount of money wasted is excessive, but none of us know whether it was criminality or cock-up.

I agree and would suggest a mod looks at some of the posts in the LFC accounts thread which are close to the bone

[TepidT2O]

Why would H & G need to fraudulently rip off money from the stadium??

Seriously, there as so many ways of doing this legally that it would be idiotic to commit fraud.

[Gandalf]

Why would H & G need to fraudulently rip off money from the stadium??

Seriously, there as so many ways of doing this legally that it would be idiotic to commit fraud.

It's common practice in business to extract money by paying it to a 'friendly' who then gives you a % back.  Had they taken a dividend, fans would likely have gone fcukin nuts.

[Red Beret]

Why would H & G need to fraudulently rip off money from the stadium??

Seriously, there as so many ways of doing this legally that it would be idiotic to commit fraud.

And we've seen over the past few weeks that there are many ways for a millionaire businessman to pay just 20%, or even less, in tax, quite legally, whilst most middle-income families pay at up to 40%.

Perhaps nothing illegal took place but that doesn't mean it was right.

[TepidT2O]

And we've seen over the past few weeks that there are many ways for a millionaire businessman to pay just 20%, or even less, in tax, quite legally, whilst most middle-income families pay at up to 40%.

Perhaps nothing illegal took place but that doesn't mean it was right.

Nothing was right about those vermin, but it doesn't mean they were criminals, there was no need for that, they could screw us with the law in their side.

It's just people with residual anger for the cowboys (which I understand), bu it's not helpful if RAWK gets sued for libel!

[Dirk18Kuyt]

All of a sudden Andy Carroll looks like a good deal eh.