Tuesday, 19th January 2010

Former Birmingham owners David Sullivan and David Gold have completed their takeover of London club West Ham United, according to ESPN Soccernet. A source close to the deal has claimed the announcement will be made in a press conference later in the day, with Gianfranco Zola believed to be secure in his job, for now.

“The deal was sealed around 23:30 GMT last night and means the enterprise value of the club is £105M,” he said. It was also revealed that Air Asia boss Tony Fernandes, who was believed to be among the front-runners, wasn’t too far away, “Tony would have been a good custodian of the club but he didn’t quite get there. I think he was a touch distracted by other issues."

It has been reported that 50% of the club’s value has been paid for, and understood that the money will be going straight back into the team. With the transfer window more than halfway through, West Ham will be looking for new acquisitions to bolster their escape-from-relegation operation.

 

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