Kieran Maguire: PAI takeover of West Ham 'could be sorted quickly'
PAI Capital’s bid to take over at West Ham “could be sorted quickly” – but only if they abandon their so-called ‘innovative’ strategy.
So says finance boffin Kieran Maguire, speaking exclusively to Football Insider about the latest developments in the takeover saga.
The investment group claimed through The Times on 5 September that they had “prepared and submitted an innovative second bid”.
The party line at the London Stadium, however, is that no proof of funds was submitted for the first bid back in February.
Maguire scoffed at PAI’s claim to have submitted an ‘innovative’ bid and suggested that a conventional route is more likely to be successful.
“I find this strange,” he told Football Insider correspondent Adam Williams.
Subscribe to Football Insider TV now
“If I’m going to sell you my house, I don’t want an ‘innovative’ offer, I want an offer with a degree of certainty.
“This comes across as lots of caveats and small print. If they want to buy West Ham, it could be sorted very, very quickly.
“All you need to do is agree a price then get approval from the owners and directors test.
“That last part will take some time because the Premier League does have the resources to investigate the background of potential new owners.
“But unless you deal with step one, you aren’t going to get anywhere.
“David Gold and David Sullivan, they are not young. They don’t want an offer which is on the drip, they want a significant cash-up-front offer that benefits them as owners.“