XL Holidays

[west_ham]

You've probably already heard this as it's been all over the news this morning but XL Holidays have gone into administration.

I assume this doesn't affect West Ham in any way, other than the slight embarrassment of the continued wearing the XL logo.

Tens of thousands of British tourists who booked with the tour operator group, XL, are facing massive disruption to their holidays.

The company has gone into administration and all its flights have now been grounded.

The airline had three flights scheduled to leave from Belfast International Airport to Greece next week.

It also operates flights from Dublin to Spain and the Greece. Four flights were scheduled on the routes for Friday.

The Civil Aviation Authority (CAA) said 85,000 people across the UK could be stranded abroad and 200,000 have made advance bookings with the company.

David Clover, a spokesman for the CAA, said it would be making arrangements to help customers of the four tour companies within the XL group.

"In respect of people who are currently abroad we're making arrangements and working very closely with the travel industry to organise repatriation flights.

"Clearly though, with XL Airways no longer operating, we're having to bring in substitute aircraft to bring people home.XL is the current kit sponsor of West Ham United football club. "

[hammer_scout51]

I have been told BG's bank is involved as some sort of guarantor. Trying to get this checked out. 200 million is the figure being bandied around.

[Hammerette 1]

I'm so pleased I bought the new West Ham shirt two weeks ago:rolleyes:

[west_ham]

I'm so pleased I bought the new West Ham shirt two weeks ago:rolleyes:
Me too. I thought I would take up the offer of free Bobby Moore printing, not thinking about the print on the front of the shirt.

Still, Newcastle fans survived the whole Northern Rock saga...

[Kent_Hammer]

Scout got it spot on, Landsbanki is part guarantor of a 207m euro loan to XL Leisure. All BG needs now is for Sheff U to be successful in their compo quest and that'll cap a really great few months for him! :rolleyes:

[Footstomper]

Is it considered a bad omen if your sponsor goes belly-up at the start of the season?

[Footstomper]

Is it considered a bad omen if your manager quits at the start of the season?

[Footstomper]

Actually isnt it somewhat ominous to be owned by a bank that bankrolled the bankrupt sponsors, in the middle of a global depression, at the start of the season?

[Footstomper]

Now I come to think of it flogging your key players at the start of the season doent exactly put youi in the same class as lucky Jim does it?

[west_ham]

You forgot the effect of the credit crunch on Landsbanki.

[Footstomper]

You forgot the effect of the credit crunch on Landsbanki.

Ah, that was implicit in the third one:(

[Hammerette 1]

We'll be alright, chins up Footstomper :)

[west_ham]

chins up Footstomper :)
I had no idea Stomper was that fat...:D

[Kerry Dixon's Boots]

You've probably already heard this as it's been all over the news this morning but XL Holidays have gone into administration.

I assume this doesn't affect West Ham in any way, other than the slight embarrassment of the continued wearing the XL logo.

It does look like there will be a real short-term financial impact on the club as a result as XL had not paid the full amount of the sponsorship deal across and it's uncertain where West Ham will rank as creditors. There is 5m left outstanding.

My best guess is you won't see any more of this money especially as you have pulled XL off the shirts.

http://news.bbc.co.uk/sport1/hi/football/teams/w/west_ham_utd/7611752.stm

Does this affect Zola's transfer kitty at all? Was this revenue factored into any January spending?

[hammer_scout51]

The latest i have picked up is that XL were trying to refund the loan and BG said no. In some financial circles they are saying BG sent them to the wall. Or helped them on the way.

[Footstomper]

I had no idea Stomper was that fat...:D

Me neither! I'm now totally offended and insecure. Do I type like I've multiple chins? I've been counting it all day just to make sure.
Look...
'1'
And again
'1'
See. Frankly I'm most offended by the distance between 'n' and 's' on the keyboard. Its an easy three inches so she cant pass it off as a typo.

[claret50]

I'm totally offended and insecure. Its an easy three inches.
Oh dear, it's no wonder that you feel offended & insecure.;)

[Hammerette 1]

Lol!

[Footstomper]

Oh dear, it's no wonder that you feel offended & insecure.;)

OK walked into that one. :o

[Hammerette 1]

It does look like there will be a real short-term financial impact on the club as a result as XL had not paid the full amount of the sponsorship deal across and it's uncertain where West Ham will rank as creditors. There is 5m left outstanding.

My best guess is you won't see any more of this money especially as you have pulled XL off the shirts.

http://news.bbc.co.uk/sport1/hi/football/teams/w/west_ham_utd/7611752.stm

Does this affect Zola's transfer kitty at all? Was this revenue factored into any January spending?

Don't be daft, no shirt sponsorship is paid in full up front. We would only lose out if we didn't get another shirt sponsor, which for a club as high profile as West Ham isn't a problem. We're not back in the old Pony shirt days. West Ham will get another shirt sponsor for the rest of this season if they choose to do so and continue from there.