Monday, December 14, 2009

Gold & Sullivan Make £50 Bid

Sky are reporting that Sullivan and Gold have made a £50 million bid for West Ham. The deal is apparently in two parts, with some of the money going to the Icelandic owners and the rest to service the current debt and provide transfer funds in January.

Sky doesn't say if the bid is for only a stake in the club, as previously reported. If this bid is for 100% ownership of the club I really can't see it being accepted. The bid would represent an offer of say £30-£40 million to CB Holdings and around 30% of what they value the club at.

Sky say the bid is just one of several which appear to be on the table for the club and that a decision is expected to be made in Iceland on Friday on which to accept.

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