West Ham stake up for sale after death of co-owner David Gold as value of club is revealed
WEST HAM co-chair Vanessa Gold has put a stake in the club up for sale.
Gold, the daughter of late co-owner David Gold who died earlier this year, has confirmed that a chunk of the family’s 25 per cent stake in the club has been put on the market.
AFPVanessa Gold has put a stake of West Ham up for sale following the passing of her father David Gold[/caption]
PADavid Gold sadly passed away in January of this year, leaving his 25 percent stake in the club to his family[/caption]
Any sale would likely value the Hammers at over £650million, with Gold understood to be looking to sell just under 10 per cent of the family’s shareholding.
In a statement to Sky News, Gold said: “I would consider selling a proportion of our shares to the right partner.
“I have spoken to each of the other three major shareholders at West Ham United: David Sullivan, Daniel Kretinsky and Tripp Smith, who have been very supportive.
“Any transaction to purchase some of our shares will be with my father’s legacy at the forefront of my mind which, of course, prioritises his beloved West Ham United.
“I have appointed Rothschild & Co to advise us on any discussions and will keep the other shareholders, the club and our supporters updated on any significant developments.”
Bankers Rothschild are holding discussions without outside interested parties, including sports investment funds.
However, it cannot be ruled out that Czech investor Kretinsky, who currently owns 27 per cent of the club, could look to increase his stake as was expected when he invested two years ago.
As part of Kretinsky’s investment in 2021, an agreement was written in whereby the billionaire could buy out Sullivan and Gold at a set price – though that clause has now expired.
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Sullivan currently holds 39 per cent of the club alongside American investor Tripp Smith on 8 per cent while non-executive director Daniel Harris, a lifelong fan, holds a minority share.
No sale is imminent with the process expected to take a number of months.
PADavid Sullivan and David Gold took over at West Ham in 2010[/caption]
