David Sullivan takes his stake in West Ham past 50% mark



Posted Friday, July 19, 2013 by The Sun

David Sullivan takes his stake in West Ham past 50% markDAVID SULLIVAN is now the main man at West Ham after boosting his stake in the club to more than half.

Since their takeover in 2010, Sullivan and co-chairman David Gold had been equal partners.

But earlier this month, Sullivan bought a further 25 per cent of WH Holding Limited, the Hammers’ parent company, to take him to 55.6 per cent.

He snapped up the shares from CB Holding, the firm which once controlled West Ham on behalf of Icelandic banks after owner Bjorgolfur Gudmundsson went bust.

CB now have 10 per cent, with Gold on 30.6 and others, including ex-chairman Terry Brown, holding 3.8 per cent.

His move to become controlling shareholder was part of a deal to restructure £25.5million of the club’s bank debts.

According to the last published accounts, West Ham owed £10m to ALMC out of a total debt to banks of £30.5m.

Hammers midfielder Alou Diarra is set to end his differences with boss Sam Allardyce and could remain at Upton Park next season.

The former France captain, 32, failed to make any impact following his move from Marseille last summer.

Diarra was angry that he was not a first-team regular and made his feelings known back in January.

He was sent out on loan to Rennes but with Gary O’Neil turning down the chance to stay at West Ham, Diarra has been given a fresh chance to stake his claim.

Tag:
West Ham


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