WEST HAM UNITED OWNERS' UNDER THE SCANNER AFTER PHILLIP BEARD'S CONSORTIUM 'REMAINS COMMITTED' TO THE TAKEOVER OF THE NORTH-LONDON ARMY
According to the current reports from the London Stadium, West Ham United’s owner David Sullivan has spurned a “derisory” preliminary offer for the takeover of the North London team and claims he has “no inclination” to trade to a consortium led by retired Queens Park Rangers board chairman Philip Beard.
The long-serving disciples of the Hammers have had a fierce relationship with the two Davids for the past few years. The contest began after the Hammers shift to the London Stadium in 2016 and the anti-board protests haven’t stopped since. The latest came after Grady Diangana was offloaded to West Brom.
The spectators’ urge to lend David Moyes monetary benefits in the transfer windows haven’t been heard, and Sullivan and Gold could be digging their graves if the practice continues. After the instalment and fallout of the European Super League last summer, the presidents of the club are aware of the powers in the hands of the spectators’, and Sullivan and Gold wouldn’t want to play with fire if their stance on the consortium doesn’t change.
THE OFFERS FROM THE CONSORTIUM
The Hammers is jointly owned by two wealthy businessmen, Welsh industrialist David Sullivan and British entrepreneur David Gold. While Gold has been silent about the situation, Sullivan has had a few exchanges in the media against the consortium.
In the early months of this year, an American consortium proposed to take over the Hammers after the English club were battling with a brawl between owners and fans. The American consortium contemplating a takeover of West Ham was refused once again, after backing up on their initial proposal with a £400 million bid at the end of February.
After faltering with an introductory proposal of £350 million at the beginning of August, it is believed that the would-be purchasers, who are connected in US athletics, were not discouraged. The company is still keen on purchasing West Ham United and completing the long-awaited takeover of the Hammers, which is controlled by David Gold and David Sullivan and has made their feelings known by making a bigger bid.
— West Ham Football (@westhamfootball) May 23, 2021
Their second offer was insufficient to persuade West Ham to sell. Although Sullivan and Gold’s popularity among fans has dwindled since their transfer to the London Stadium in 2016, it will require a larger payment to persuade them to change their minds.
WHAT DO THE DAVIDS THINK?
Beard’s coalition made an indirect offer in February and was ready to make a bid worth more than £400 million. It is still pondering its next move after maintaining its enthusiasm in the organization.
However, it appears that it is squandering its time. “The offer was derisory,” Sullivan explained. “They never produced any proof of funds and were looking to raise funds to do the deal.”
"You never know what the results mean in pre-season, but all I do know is we’re getting better and I want a new West Ham who play and win, try to do the right things and I thought today we did a lot of the right things."
🗣 The boss gave his verdict following yesterday's win…
— West Ham United (@WestHam) July 25, 2021
According to Sullivan, the purchase was an “estate proposal, not a football one,” and the “vague proposition was not in the greatest advantage of West Ham, its investors, or its fans.”
After a reasonable price for West Brom shot-stopper, Sam Johnstone was declined outright by the Championship outfit, it has been alleged that the consortium was willing to provide coach David Moyes, who signed a new contract with the Hammers, resources to enhance his roster.
I am delighted to announce that David Moyes has signed a new three-year contract with the Club.
He has led the Hammers through a resurgent 2020/21 campaign that culminated in a sixth-place finish and securing European qualification. Congratulations and well done. dg pic.twitter.com/xSttaDYBL4
— David Gold (@davidgold) June 13, 2021
However, Sullivan said: “At no time did they mention any money being available for new players.”
Despite the brawls with the spectators Sullivan said: “We have no desire to sell the club but get approached by many weird and wonderful people who lack the funds and have no experience in running a football club.
Sullivan explained that the proposal was invalid because of Beard’s lack of money and although he did a magnificent job at QPR, running a Premier League team is above his ranks.
“Mr Beard did a truly exceptional job at QPR working with Tony Fernandes. Having done so well there he no doubt wanted to repeat the success at West Ham.”
MR. BEARD’S RESPONSE
“It is not my intention to engage in a public debate on the comments made by David Sullivan last week but, upon advice, it is necessary to correct unhelpful and inaccurate statements,” Beard exclaimed in the declaration.
“In response to David Sullivan’s comments about the nature and value of the bid put forward by the consortium, I can confirm that a formal offer was made which was the figure that David Sullivan had initially asked for. Our city lawyers were instructed and David Sullivan was provided with a proof of funds.”
UK-based consortium, fronted by former @QPR CEO Philip Beard not giving up on buying @WestHam
Confirms original bid was figure requested by owner David Sullivan who WAS shown proof of funds.
“We remain committed to pursuing opportunities to purchase club.”
— Jim White (@JimWhite) July 27, 2021
According to Beard, Sullivan shouting “The Proposal is Not for the Fans” is just a publicity stunt and the businessman’s sole target was to sweep an immense amount of pounds from the offer.
“At no point were we asked to produce further information about our football strategy. It was quite clear to me that David Sullivan’s sole focus was on price.
He also elaborated that his coalition could correct the current owner’s mistakes and re-build the vision shrouding the London Stadium.
Philip Beard of Pai Capital on his consortium’s bid for #WHUFC…says “David Sullivan was provided with a proof of funds” and consortium remains “committed to pursuing opportunities to purchase the club”. Statement here … pic.twitter.com/Ojbha5h5Qd
— Henry Winter (@henrywinter) July 27, 2021
“We remain committed to pursuing opportunities to purchase the club. We have been actively working on this for over six months and have a strong vision for the club, the London Stadium and its place within the Olympic Park as a whole. It is backed by prominent personalities in the sport, as well as West Ham legends who love the club and want to play a role in its development.”
He finished by explaining how the consortium’s roadmap is to build the North-London club from the ground with the help of former Hammers and different football pundits. While giving manager David Moyes, the freedom to splash bucks in the transfer window.
“We wholeheartedly welcome their support and hope that we will, together, have the opportunity to deliver the project that we have plann