West Ham would be crazy to entertain PAI Capital takeover after insider update - Whelan
Nobody in their right mind at West Ham would entertain a takeover bid from PAI Capital without proof of payments.
That is the view of former Premier League striker Noel Whelan, speaking exclusively to Football Insider about the private equity firm’s claimed second bid for the Irons.
On Sunday, PAI Capital claimed through The Times that they have submitted a “second innovative bid” to buy West Ham.
The group said they are confident the offer will be accepted and hope to “share positive news very soon”.
However, according to Claret and Hugh (September 5th), the club insist the “second bid” is phantom.
Furthermore, the Hammers maintain that they received no proof of funds for PAI Capital’s first bid.
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When asked by Football Insider‘s Dylan Childs for his assessment of the latest, Whelan said:
“If there is no proof of funds then there is nothing for West Ham to talk about. All details and finances need to be disclosed so they can progress something forward.
“The club is in a really healthy position right now, off the field and on it. Any prospective buyer, if they are serious, will have finances in place to continue that progression. I don’t think Sullivan and Gold are under any pressure to sell because of the way things are going.
“In regards to PAI Capital, they have to provide proof of funds at the very least. It’s like putting in a bid for a house and not proving you have the money to buy it. Nobody in their right mind would go forward with that. The estate agents would not even consider talking to you if you didn’t have proof of funds.
“This takeover talk is a hinderance more than anything right now.”