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West Ham United Co-Owners Look to Sell 35% Stake In Club For £40m

The Upton Park club looking to sell 35% stake following Olympic Stadium takeover.

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West Ham co-owners David Gold and David Sullivan have put a 35% stake in the East London club up for sale at £40million.

The owners wants to bring in a third partner with the value of West Ham set to soar after winning the deeds to the Olympic Stadium.

A West Ham insider told ESPN: “With playing at the Olympic Stadium from the start of the 2014-15 season, the club’s value has been enormously increased and there is a unique opportunity to buy the remaining 35% of the club for around £35-40 million.

“Once all the shares are placed it is anticipated that they’ll increase enormously in value over the coming few years as the club moves to the Olympic Stadium for the start of the 2014-15 season.

“There is a chance the value of the club could go from £100 million to £500 million, to £700 million over five years when we move.

“There are only four big clubs in London: Spurs, Chelsea, Arsenal and West Ham, and West Ham is by far the cheapest. Yet it has great heritage and a huge fan base and, with the Olympic Stadium, it can become a top-five club in the future.”

West Ham is currently split between Sullivan and Gold, who each have a 31% stake, while around 3% goes to other shareholders and 35% is still owned by the Straumur Bank (who acquired the club in October 2008 due to the large debt owed by former owner Bjorgolfur Gudmundsson).

Sullivan and Gold have an option over the Straumur shares for three years from the date they took control of West Ham – in January 2010 – but the club would entertain “a large single partner, or a number of smaller partners, to join them and take out the Straumur shareholding”.

Gold and Sullivan would not gain personally from any funds injected into the club from a new investor, as “they are simply looking for other people to join them who’d invest new funds with them to help turn West Ham into a top six-club,” according to club and City insiders.

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