West Ham’s leading ownership figures are reportedly looking to reduce their stakes to bring a Middle East investor to the club.
Majority stakeholder David Sullivan, Czech billionaire Daniel Kretinsky and The Gold family are the key players in the Hammers boardroom.
But each of the owners are willing to reduce their West Ham stakes to offer up a 25% package to a new investor.
I reported on claims from Sean Whetstone yesterday that West Ham are actively seeking a new investor from the Middle East.
According to board confidant Whetstone, sources close to the Mergers and Acquisitions industry have suggested West Ham are looking for a new investor in the Middle East or elsewhere.
Whetstone says sources have suggested Sullivan would sell nearly 14% of his current stake, Kretinsky 2% and the Gold family just over 9% to give a new investor a 25% package.
Major Times claim given new credence
So could a Sheikh from a family worth over £200bn buy into West Ham amid the new claims as touted by The Times?
MORE WEST HAM STORIES
Back in November, The Times made a huge claim about the possibility of Sheikh Jassim buying the Gold family West Ham shares.
It came after Sheikh Jassim – whose family are worth $275bn (£215bn) according to Sporting News – was repeatedly linked with the Hammers and pulled out of the running to buy Man United.
I spoke to the top source inside West Ham about whether Sullivan or Kretinsky were interested in buying the Gold family shares when they were put up for sale in November.
I was told the duo were ‘undecided’. It seems now we are finding out why.
Because their intentions are – according to the new claims – to reduce not increase their stakes in one possible scenario to offer a new investor the 25% package.
And two of The Times’ leading journalists made a huge claim about the possibility of Sheikh Jassim buying the entire Gold family’s West Ham shares a few months back.
Martyn Ziegler and Tom Roddy claim the shares in West Ham were ‘drawing international interest’.
And their report stated that West Ham insiders had told them they believe ‘the opportunity may attract an offer from Qatar after Sheikh Jassim bin Hamad al-Thani’s failed bid to buy Manchester United’.
Not only that but The Times claimed Vanessa Gold may actually be willing to sell the entire 25% shareholding in the Hammers and that ‘other investors have been sounded out’.
25% stake made for a Shiekh?
So it is interesting to note the reported plans the Hammers have put in place to create that specific 25% stake through a reduction in the stake holdings of Sullivan, Kretinsky and Gold.
“Club insiders believe the opportunity may attract an offer from Qatar after Sheikh Jassim bin Hamad al-Thani’s failed bid to buy Manchester United,” The Times reported prior to the new revelations.
“Ms Gold’s family has a 25 per cent shareholding in West Ham and she is working with the Rothschild bank to sell part of that stake. It is understood that if the price was right, Ms Gold may be willing to sell the entire shareholding…
“West Ham’s move comes as Sir Jim Ratcliffe closes in on completing his £1.3 billion investment for 25 per cent of Manchester United, and 18 months after the Todd Boehly-Clearlake Capital consortium bought Chelsea for £2.5 billion.
“Sheikh Jassim bid £5 billion for 100 per cent of Manchester United when the Glazers had been holding out for nearer £6 billion.”
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Robert Johnson is a UK-based business writer specializing in finance and entrepreneurship. With an eye for market trends and a keen interest in the corporate world, he offers readers valuable insights into business developments.
