Sources: Critical West Ham takeover update as Gold and Sullivan twist revealed
West Ham owners David Sullivan and David Gold are in talks to part-sell their stakes and want hefty commissions for the deal to go through, Football Insider understands.
Co-chairman Sullivan revealed to BBC Sport this week he has rebuffed a “derisory” £400million buyout approach from a consortium headed by former Queens Park Rangers chief executive Philip Beard.
A source familiar with the West Ham discussions has told Football Insider that Sullivan and Gold do not want to sell their full shareholdings of 51.5 per cent and 35.1 per cent respectively.
But they are keen on offloading significant stakes – a combined 30 to 40 per cent – at the right price.
It is said that West Ham “need the money” and could be in trouble without major investment in the months ahead.
The owners arranged a rights issue to raise £30m last year and David Moyes, the manager, does not have a significant budget for new signings during this transfer window.
Subscribe to Football Insider TV now
The big crux of the current talks is the amount of commission that would be paid to Sullivan and Gold for any part-sale to proceed.
Both are believed to be requesting “significant” personal payouts from the would-be buyers.
Beard’s consortium made an informal approach in February and was prepared to submit an offer in excess of £400m for a full buy-out.
West Ham executive Karren Brady has suggested the club is worth £800m given its London location, 60,000 sell-out crowds and established Premier League status.
The position of the owners is that they are open to investment but want more money.
Beard’s consortium is said to be continuing to work on a deal and have been given encouragement behind the scenes.
Gold and Sullivan, who bought the club in 2010, have seen their standing with supporters plummet since the move to the London Stadium in 2016.
Tensions have sporadically inflamed in recent years, most recently when Grady Diangana was sold to West Brom for £18million last summer, although last season’s sixth-place league finish took some of the heat off the owners.