Kieran Maguire suggests £800m West Ham takeover bid after Sullivan reveal
West Ham as a club is worth more than £400million but Karren Brady’s valuation of £800m would represent poor value for an investor.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider after David Sullivan rejected a consortium’s £400m approach.
Speaking to BBC Sport on 21st July, West Ham’s majority shareholder dismissed the informal offer as “derisory”.
The consortium, who made the offer in February but remains interested, is fronted by ex-Queens Park Rangers chief executive Philip Beard.
The biography section of Hammers vice-chairman Brady’s personal website claims West Ham is currently valued at £800m.
Maguire weighed up the pros and cons before claiming that the East London club falls short of Brady’s sky-high valuation.
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“That was when the market was buoyant,” he told Football Insider correspondent Adam Williams.
“You can see why they turned down £400m, even though we are operating in a different environment these days.
“There are pros and cons with regards to West Ham. They don’t own the stadium, so what exactly are you buying?
“You’re buying a tenancy. If they are looking for £800m, that’s a hell of a lot of money for a tenancy.
“We see West Ham as a big Premier League club but they have also had occasional visits to the Championship as well.
“Only two seasons ago they finished relatively low in the Premier League, although David Moyes has turned things around.
“Would I pay £800m for a club which is not guaranteed to be in the Premier League? Probably not.”