Gold and Sullivan increase West Ham stake 26/05/2010 |
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West Ham United chairmen David Gold and David Sullivan have increased their stake in the club to 60 per cent.
Gold and Sullivan took control of West Ham in January when they bought a 50 per cent stake from previous owners CB Holdings.
The former Birmingham City owners held a 25 per cent share each and they have now purchased another five per cent apiece.
The deal has cost Gold and Sullivan £8m, with half going to CB Holdings and the remaining half towards bridging the gap in the club's finances.
The two chairmen have a three-year option to buy the remaining 40 per cent of CB Holdings' share in the club.
Sullivan said: "Myself and David Gold are, like you, West Ham United fans and our aim is to ensure our club enjoys a stable and successful future.
"To this end, we have both invested a further £4m to increase our shareholding to 30 per cent each.
"We have a long-term intention of increasing our shareholding, while we have also invited professional investors to share in our vision for this special club. Also, in the near future we hope to extend to supporters the opportunity to invest in the club.
"We are committed to putting West Ham on a firm financial footing that will form the basis, we hope, for success both on and off the pitch."
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