A group of shareholders in the UK have received a takeover bid of more than £ 400 million rejected by West Ham’s majority owner David Sullivan.
Sullivan and his business partner David Gold have owned Hammers since 2010 and have not always been popular with fans. The club’s move to London Stadium has been a particular litigation, but West Ham’s underachievement on site and poor recruitment have also been criticized.
West Ham owners have not always been popular with fans / Catherine Ivill – AMA / Getty Images
Recently, Gold and Sullivan have moved out of the firing line, mainly due to the success that manager David Moyes has had on the field. Last season, the Hammers secured a very impressive sixth place and secured Europa League football in the process.
This, combined with their fantastic stadium and London’s location, makes the club an attractive proposition for investors. According to the Daily Mail, a group has launched a takeover bid. The consortium – which includes former QPR CEO Philip Beard – has made an opening offer of over £ 400 million, but it has been quickly rejected by current ownership.
The group is still determined to negotiate a deal. Beard, one of the driving forces behind the plans, was part of London’s successful bid for the 2012 Olympics. The group is keen to not only invest heavily in new investments but also develop the ground around London Stadium to ensure the legacy of the Games is met. They are also said to be “disappointed” that their first offer was rejected.
This is not the first time in recent years that West Ham have been the subject of a takeover bid. Gold has previously claimed that he rejected methods from an American consortium. Further back, an offer even higher than the £ 400 million made by Beard and co.