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Former Birmingham City owners David Sullivan and David Gold have completed their takeover of West Ham United.

Sullivan has bought a 50 per cent stake in the East London club and will have “operational and commercial control”. He has installed long-term business partner Gold as joint chairman, with Karen Brady, the former chief executive of Birmingham, joining as vice-chairman.

The deal, which was concluded late last night (Jan 18), values West Ham at £105m.

Sullivan, a lifelong West Ham fan who was brought up in Hornchurch, said: “I have been interested in running this club for 20 years and I can’t wait to start work.

“I enjoyed running Birmingham City for 16-and-half years, but everyone there knew my true love was always West Ham United.

“It will be an immense privilege to lead this great football club and more importantly its supporters.

“Our first priority has to be securing the Premier League status of West Ham. I believe the players at this club have shown great commitment in trying circumstances and the new board and I will get behind them in every way we can.”

He continued: “Our long-term aim will be to put the club on a stronger financial footing. I believe with our new board we have the expertise and experience to do just that and bring the good times back to this great football club.

“The club is now back in the hands of East Enders, people who understand the community and its passion for the Hammers. I believe that depth of feeling will also bring us through what has been a difficult period.”

Sullivan and Gold, who sold Birmingham to Hong Kong billionaire Carson Yeung last year, faced competition from Lotus F1 chief Tony Fernandes, finance company Intermarket and Italian Massimo Cellino to buy West Ham from CB Holding, whose main shareholder is Icelandic bank Straumur.