Sullivan wants 'more money' as new West Ham takeover statement issued - Kieran Maguire
West Ham owner David Sullivan may be publicising a recent takeover approach in order to forge a more lucrative deal elsewhere.
So says finance expert Kieran Maguire, speaking exclusively to Football Insider about the latest boardroom developments at the London Stadium.
Sullivan told BBC Sport on 21st July that he had rejected an offer of £400m from a consortium fronted by ex-QPR chief executive Phillip Beard.
Daily Mail journalist Mike Keegan relayed a new statement from Beard on Twitter on 27th July disputing Sullivan’s claims regarding the approach.
He asserted that the consortium had met the asking price and provided proof of funds despite the majority shareholder’s claims to the contrary.
This site revealed on 24th July that Sullivan and co-owner David Gold are in talks to sell a combined 30-40 per cent of their shares and want hefty commission for their troubles.
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Maguire suggested that the West Ham supremos may be looking to squeeze more money from the deal following Beard’s revelation.
He told Football Insider correspondent Adam Williams: “I think GSB are constantly of the viewpoint that they can extract more money from the deal.
“That is their driver. They might say they are concerned with the welfare and long-term sustainability of the club, but their main motivator appears to be financial.
“They might be using this bid as a means to flush out another investor to offer more, using it as a Trojan horse.
“The potential attractiveness to other investors is the iconic stadium, from an overseas buyer’s perspective.
“From a romantic point of view, it ticks close to zero boxes. But from a foreign investor’s perspective, it looks amazing.”