David Sullivan has reportedly rejected an offer from Amanda Staveley’s consortium to buy his 38.8% stake in West Ham. The fresh Amanda Staveley West Ham takeover development could complicate her attempt to gain control at the London Stadium, with Sullivan believed to value his shares more highly if the club return to the Premier League.
Journalist Alan Nixon is reporting that Staveley’s group made an offer worth roughly £232million for Sullivan’s entire holding.
The report, relayed on Friday evening, claims Sullivan has rejected that proposal and would prefer to wait until West Ham regain Premier League status before considering a sale.
The figure has not been independently confirmed by West Ham or Staveley’s consortium.
Amanda Staveley West Ham takeover faces fresh obstacle
Staveley is already attempting to secure another significant piece of West Ham.
That transaction remains subject to West Ham’s pre-emption process, which gives existing shareholders an opportunity to buy the shares first.
If Staveley eventually acquired both the Gold family’s stake and Sullivan’s entire holding, her consortium would control 63.9% of West Ham.
For now, Sullivan appears unwilling to provide that route.
He retains his 38.8% shareholding despite stepping down from his board position earlier this summer. ReadWestHam reported on Thursday that Sullivan also intends to attend Saturday’s Portsmouth game despite advice to stay away.
Daniel Kretinsky further complicates the ownership battle because he has the ability to intervene in Staveley’s proposed purchase of the Gold shares.
The Amanda Staveley West Ham takeover picture therefore remains far from settled.
Staveley has made significant progress towards entering the club, but Nixon’s latest report suggests buying out Sullivan may prove considerably more difficult.
