West Ham United chief David Sullivan set for multi-million loss
West Ham chairman David Sullivan is set to lose £10million on a personal project as he looks to sell a London mansion.
The largest shareholder at the London Stadium spoke out to Bloomberg on 3 October and revealed that he has spent £75m on the property.
The Hammers Chair spent £27m to purchase the house in 2015 and has since spent under £50m on developments.
Sullivan has slashed the asking price to £65m with him admitting: “I’m selling it at a loss now, but you have to be realistic.”
West Ham chairman David Sullivan set for £10m loss
It has to be said that the Irons shareholder certainly put his money where his mouth is over the course of the summer transfer window.
With the likes of Max Kilman, Aaron Wan-Bissaka and Niclas Fullkrug coming in, Julen Lopetegui was helped with plenty of additions ahead of his first season in charge.
The Hammers racked up a transfer spend of over £121m ahead of the current season [FootballTransfers.com] which has helped cause some unrest after a difficult start to the campaign.
With that being said, Sullivan may deserve some thanks from supporters after putting the club’s interest ahead of his own in the window.
The largest shareholder at the club is likely to suffer a loss of £10m or above on this personal property project which is a sizable amount.
It wouldn’t have been a surprise to see him duck out of his duties at the London Stadium after this financial hit but he can not be accused of that after a positive summer.
In other West Ham news, Paul Merson has mooted sack “pressure” on Julen Lopetegui in an Ipswich Town prediction.
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