Kieran Maguire: 'Major changes' coming at West Ham as David Sullivan to bankroll £35m deal
David Sullivan’s decision to bankroll Laurence Bassini’s bid to take over Birmingham City further signals his intentions to leave West Ham.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the 73-year-old’s possible exit strategy at the London Stadium.
Sullivan’s shareholding in the Hammers fell from 51.5 per cent to 38.8 per cent following Daniel Kreintsky’s partial takeover in November last year.
Kretinsky, who now owns 27 per cent of the club, has the option for a full takeover after a windfall tax clause at the London Stadium expires in 2023.
And the Daily Mail reported on Tuesday (10 May) that Sullivan, who owned Birmingham between 1993 and 2007, has now agreed to loan Bassini £35m for the takeover of the St Andrews club.
Maguire claims that Sullivan, who would take control of Birmingham if Bassini fails to repay the loan, may be plotting to stay in football beyond his premiership in East London.
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“We know there are major changes coming at West Ham,” he told Football Insider’s Adam Williams.
“Given Laurence Bassini’s financial history, if the stories are true then should he fail to make the repayments on the due dates, Sullivan acquires Birmingham.
“So, this could be an indirect route to staying in football after he leaves West Ham.
“He is leaving West Ham because he likes the idea of £800m. He paid next to nothing for West Ham and in Birmingham, he is getting a club he has owned before for a very low price.”
Former Watford owner Bassini has failed in attempts to buy Bolton Wanderers, Charlton Athletic and Oxford United in recent years.
He began a three-year ban from owning an EFL club in 2013 after he was found to have misled the governing body and fellow directors.