PAI Capital end bid for West Ham takeover after second unsuccessful approach
PAI Capital have ended their bid to buy West Ham from GSB after David Sullivan rebuffed an approach earlier this month, according to the London Evening Standard.
The newspaper reports that the consortium have made two attempts to buy the Hammers but the club has been adamant that no formal offer has been made.
However, nothing will be happening any time soon with PAI, especially based on their statement.
As quoted by the Evening Standard, PAI’s statement says: “Earlier this month, PAI Capital submitted a further offer for West Ham United to the controlling shareholder, David Sullivan. The offer was well-received and discussed on an amicable basis under agreed confidentiality.
“Mr Sullivan has, unfortunately, declined the offer on the basis that, with the team performing so well, it is not the right time to sell. PAI Capital notes his decision and, given that it is one of timing and not price, the company is unable to take things forward at this stage. PAI Capital’s interest remains however and, should things change, will be ready and willing to proceed.”
Did we need a takeover?
While the issues surrounding GSB are well-documented, do we desperately need new owners right now?
As it stands, we’re top of our Europa League group, we’re performing well in the Premier League and we’re in the round of 16 of the Carabao Cup. Michail Antonio is one of the most in-form strikers in Europe, David Moyes’ signings are all working out and the general feeling at the club is one of excitement and pride.
As much as people want GSB out – and we totally understand why – there’s no need to throw things into potential turmoil now with a takeover.
We don’t need that kind of distraction off the field when everything is going so well on the pitch.
We’re not happy that David Gold and Sullivan remain at the London Stadium but we are happy that a takeover will not be happening as it stands.
In other West Ham, Ravel Morrison has reacted to this major transfer news from the club.
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