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David Sullivan: West Ham are £150m in debt
David Sullivan has stated that West Ham are £150million in debt and that the club are welcome to new investors.
PAI Capital ended their quest to take over control of the club and Sullivan continues to claim that a second bid did not arrive on the table.
He also lashed out at them for the way they conducted their business, and suggests that the club is not for sale despite him looking for investment to reduce the debut.
In an interview with Hammers News, he said, “There never was a second bid, ask them what it was for and how they made it and to whom? They saw West Ham United as a property deal and would have been unsuitable custodians of the club.
“We were the fourth or fifth highest net spenders in the last transfer window. Why change a winning formula?
“That said and done, partially due to Covid that cost West Ham United £70million, the club is £150million in debt and we’d welcome new investors to reduce this debt.”
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All is not well
Sullivan continues to paint a rosy picture of life at West Ham while claiming that they’re deep into debt.
There’s no doubt that cash injection is needed, but whether or not that money will be put to good use is another thing altogether.
We’ve seen time and again Sullivan and David Gold making empty promises to the fans and not doing their bit to live up to it.
Karren Brady also has the veneer of pretending to develop a better relationship with the London Stadium faithful, but very little has been done to take things in the right direction.
Performances on the field are silencing the dissent for the time being, but once things start going south it’s going to be a huge challenge for GSB to get the fans back onside.
We’re not entirely sure that PAI were the right ones for the club either, but now that they’re out of the picture, the focus is back on Sullivan and it’s about time he starts to deliver.
In other West Ham news, club handed huge boost to sign ‘Outstanding’ Mark Noble replacement in January
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