David Sullivan has named his price for any potential investors interested in a takeover at West Ham, insisting a suitor will need to pay £600m to complete a takeover of the east London club.
According to Football Insider, West Ham’s GSB ownership is in talks with multiple parties over a potential sale but Sullivan remains firm on his valuation.
A source close to the Irons told Football Insider that David Gold and Sullivan are open to selling West Ham 11 years after they purchased it, although their valuation likely accounts for vast investments in the club.
The owners also attribute their valuation to the club’s ‘greater income, bigger fanbase, London location and potential for growth’ in relation to some Premier League competitors. The owners feel that their valuation is justified in spite of the impacts of the global economic and health crisis.
American billionaire Joseph DaGrosa is one suitor who has been linked with taking over the east London club after negotiations to buy Southampton hit an impasse (The Athletic).
Sullivan and Gold hold a controlling 86% stake in the club, having bought the Hammers following their sale of Birmingham City.
Read West Ham Verdict
The owners’ beliefs on the value of the club certainly has basis, especially in the wake of recent squad investment and the potential for European football – and its associated revenues – next season.
However, the reported financial impact of the Covid pandemic on global football makes a figure in the region of £600m much less viable and it is hard to fathom any party willing to stump up such a fee.
If the owners are able to attract an investor, negotiations risk being protracted if they are anchored around such a price – and fan pressure on the owners could rise drastically.
