Kieran Maguire shares 'massive' West Ham takeover reveal after news via BBC
David Gold and David Sullivan could sell 30-40 per cent of their West Ham shares and still maintain control of the club.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider about the latest twist in the takeover saga at the London Stadium.
This site revealed on 24th July that the co-owners are in talks to part-sell their stakes and want hefty commissions for their troubles.
That comes after Sullivan told BBC Sport on 21st that he had rejected a “derisory” £400million takeover approach from a consortium.
Sullivan currently owns 55.5 per cent of the club while Gold holds 35.1 per cent.
But the pair will still be the chief decision-makers as long as they collectively control at least 51 per cent of West Ham, insists Maguire.
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He told Football Insider correspondent Adam Williams: “Control of a club from a day to day perspective is determined by having the ability to appoint directors.
“They are ultimately responsible for the strategic and operational decisions at the club.
“If you’ve got 51 per cent of the shares, you can appoint directors who will voice your opinions.
“If David Sullivan goes below 51 per cent, that could seem to be a problem on an individual basis. That’s a massive juncture.
“But if he has more than 51 per cet with David Gold, that would be fine because they are effectively co-joined. I don’t see that being too much of an issue.
“If you take a look at what happened at Arsenal where Alisher Usmanov owned about 35 per cent of the company, he wanted to be a director or at least appoint one.
“But Stan Kroenke just kept rebuffing him until he threw his toys out of the pram and sold out to Kroenke and that’s why the club has gone private.
“So if they sold part of the club and still had more than 51 per cent, they would be the main beneficiaries from the sale.
“As long as they have control between the pair of them, I don’t see an issue.”