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West Ham lose to Arsenal as owners say stake in club for sale


 
 

Speaking ahead of Sunday's Premier League clash which saw his side lose 2-1 to Arsenal in controversial circum­stances, it was announced that West Ham co-owners David Sullivan and David Gold want to sell 20% of the club to raise £80m in order to pay off some of the club's debts.

The Upton Park club's debts currently stand at £110m, of which £55m is owed to Gold and Sullivan.

"I'd love someone to come in and buy 20%, and the money would not go to us, it would go to the club," Sullivan told the Sunday Telegraph.

"But we won't be giving it away and we'd want market value for it."

West Ham will be anchor tenants for the Olympic Stadium from August 2016.

He added: "Going to the Olympic Stadium, we are a £400m club and that would pay down most of the debt.

"But if it doesn't happen we'll dig deep in our pockets and keep the club afloat."

Speaking about the manager Sam Allardyce's contract expires at the end of the season Sullivan said: "I must say if come April we are where we are now, which is extremely unlikely but is possible, we'd probably sit down a month early and say: 'Look Sam, do you want to stay or do you want to go?'

"Sam may decide he wants to go out a winner."

LK

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