West Ham owners are not convinced PAI Capital actually has the money to buy club
West Ham United owners David Sullivan and David Gold are not convinced PAI Capital actually has the money to complete a takeover, according to The Athletic.
The consortium has tabled a £400million bid to buy the Hammers, submitting proof of funds to the club owners.
However, PAI Capital’s founder Nasib Piriyev is currently embroiled in a bitter legal dispute over allegations of corruption in Azerbaijan, and the West Ham chiefs doubt if the consortium has the financial might to complete a takeover.
An excuse not to sell
Sullivan and Gold are not ready and willing to sell the club right now, and they will come up with any and every excuse they can just to block a sale.
PAI Capital claims to have submitted a proof of funds to West Ham’s owners through their legal counsel, and that funds for the purchase are directly accessible, subject to a commercial agreement being reached [The Athletic].
Former QPR chief executive Phillip Beard, who is now one of the consortium partners has also said the £400million offer was the figure that Sullivan had initially asked for.
The Hammers chief has dismissed the offer, describing it as derisory, and claiming the group never produced any proof of funds.
We want Sullivan out as he has not fulfilled most of the promises this board made to us.
West Ham are yet to make any outfield signings this summer with the new Premier League season just a week away, and it is clear as day that we need quality additions in the striking and defensive departments.
Manager David Moyes needs owners that can back him in the transfer market and help take this club to the next level.
We do not know for sure if PAI Capital is the saviour, but nothing will change with this current board still calling the shots.
In other West Ham news, Hammers back out of transfer race despite being at more advanced stage than rivals.
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