In a refreshing change of events, former Birmingham City owners, David Gold and David Sullivan took control of the Hammers and admitted straightaway the mess that West Ham United have been battling with. Since the crashing collapse of the Icelandic banking system, West Ham had been financially stricken and the true extent of the footballing debt is now apparent. The Hammers owe £110 million out. One Hundred and Ten Million pounds.

Only in November did C.B. Holdings claim that the Hammers were in debt to the tune of £38 million, misleading the fans in to thinking that the situation was nowhere near as bad as some in the media had reported. In fact it was almost 3 times as bad as they made out and the new owners/controllers made clear exactly where they debts lay. They also confirmed that the club were going to have to sell players in this transfer window, contrary to the clubs previous stance. An immediate cash injection of £8 million was needed to keep the club going.

The list reads like a what not to do in football, or to put it another way, how to run a club like Leeds United. It’s as if someone wrote a business plan based on what went wrong at Elland Road and it was mistranslated into Icelandic to make it seem positive. It’s madness to see the debt and borrowing going on at West Ham over the last 3 years.

• £50 million owed to banks.
• £40 million owed to other clubs for transfers.
• The £40 million owed to other clubs, includes £20 million compensation to Sheffield United.
• Alan Curbishley is still owed his severance deal after winning his case for constructive dismissal
• No-one owes West Ham any money, all player transfer fees that were received paid the bank debt immediately
• C.B. Holdings had borrowed money against the next two seasons season ticket revenue
• There is no money for strengthening the squad.

Now this paints a completely different figure to what the West Ham fans believed, rightly or wrongly what the were being told. The previous regime were filling there heads with nonsense. It is a very real prospect that relegation would have seen West Ham implode financially. No ifs, no buts, they were immediately into administration. After all the information about Leeds United, C.B. Holdings were following exactly the same route.

It seems like absolute madness that not one lesson from the Yorkshire clubs demise has served to teach anyone anything it seems, as we see with the issues at Manchester United, Portsmouth and Liverpool in the last week. Regardless of the riches awash for the Premiership clubs, you still have to cut your cloth accordingly. Someone sooner or later is going to fall over the edge, which is a subject I’m going to be looking at in more depth for EPLtalk.com next week.

Gold and Sullivan have acted quickly in bringing in their trusted lieutenant, Karen Brady as vice chairman and she’ll be quick to install some much needed pragmatism at Upton Park. They are now going to talk to Newham council about moving to the Olympic Stadium after the 2012 Olympics. That could be  a challenge as Tottenham enquired about taking it over and were plainly told it was not available. The Olympic stadium is set to be reduced from its 80,000 capacity down to a pointless 30,000, for which there is neither the use nor the need.

The NFL could still play a part in the stadium’s future use that could play into West Ham’s hands. The NFL have earmarked that the often mooted London franchise’s potential base could be there. It would certainly make more sense to use it as a dual sport stadium than a white elephant for athletics, which is the current plan. There is neither the inclination or support for that size of athletics venue in London, they should sell it and use the money to redevelop Crystal Palace Athletic Stadium.

So now, West Ham have to focus on the future and the fans will be thankful that regardless of the criticisms that could be placed at Gold and Sullivan’s door during their tenure at Birmingham City, they still have a club to support. The work is now on to bring in fresh investment to try and work off the remaining debt and crucial to that is the fact that West Ham United need to stay up.

Gianfranco Zola has been nothing but a gentlemen throughout this difficult period for him and he needs to make sure that he can keep his side together for one almighty relegation scrap. For a first job, he has certainly been earning his money, of that there is no doubt. In the next six games, West Ham face Portsmouth, Blackburn Rovers, Wolverhampton Wanderers, Burnley, Birmingham City and Hull City. Come the end of February, Gold, Sullivan and Zola will know exactly the size of the task to keep West Ham United in the Premier League.

Imagine that you, as a fan, decided to drop your club an e-mail asking about potential signings. You wrote the e-mail in good faith and asked questions about the amount of money the manager had, would it be bolstered by additional monies raised by selling deadwood and the long term investment. You then copy an article from the Liverpool Echo arguing that Benitez shouldn’t have to manage the debts brought on to him.

Imagine your surprise to the receive a response to that e-mail from Tom Hicks Jr, who launches in to a foul mouthed tirade with the fan and invites him to “Blow Me F@@@-face. I’m sick of you.” The e-mail was also addressed to “Idiot”. This story broke on Saturday evening, but had been doing the rounds all day until the British media picked it up and ran with the story.

Suddenly and shockingly, Liverpool fans had finally managed to pin down the arrogance that they have had to deal with over the last 34 months since Hicks and Gillett saddled the club with £350 million worth of debt. Cue all manner of critical articles began to appear and the Spirit of Shankly fans group rode in to quite rightly demand that Tom Hicks Jr resign with immediate effect. They correctly pointed out that Hicks Jr’s position had now become untenable.

So this afternoon, he finally resigned with this statement by numbers: “I am very sorry for my harmful words. To the fans and club, please accept my sincerest apologies,I have great respect for Liverpool Football Club, especially the club’s supporters. I do not want my actions to take away from the club’s future, therefore I am resigning from the board.”

Now this for me makes things even worse, because he’d denied it for nearly 48 hours, so can anyone actually take a word he says as honest? He abused a fan, who made a valid query and then denied it calling the fan a liar. Only when the criticism became so vocal and major newspapers began to cover it did the story change to the truth. Yes, sometimes fans can give as much abuse but the e-mail was polite and simply wanted some points answering.

At no point did that justify Hicks Jr’s actions, which if anything simply smack of deluded arrogance. The spoutings of someone who has spent too long living in an ivory tower with nothing but disdain for the fans of the club his father and business partner have crippled with debts.I have a lot of sympathy with the fans over the way the club has been weighed down with so much negative equity.

Yet this mess has now come back to haunt the Spirit of Shankly group as this footage of their end of season party has now surfaced.Now at some point someone, somewhere has to get a grip of this situation. The last 48 hours were bad enough for Liverpool Football Club, but this video could complete unravel all the good work that S.O.S are doing to try and fight the Hicks and Gillett regime at Anfield.

If anything it’s all so depressing to see the same level of vitriol celebrated over something a hell of a lot more offensive than an e-mail from a silly little man. Celebrating the deaths of anyone is beyond reproach. Now is anyone from Spirit of Shankly going to make a statement or resign over this? Can Liverpool’s name be dragged through the mud anymore?