Former Brum chairman says he can turn the club around…
Bongo baron David Sullivan has announced he’ll ’save’ West Ham from financial doom, but only if the club’s Icelandic owners hand him over half the club. For free. According to this morning’s Sun, Cardiff-born Sullivan, apparently a Hammers fan from boyhood, told bosses at Straumur he’ll inject £40m and turn the club back into a profitable business, but won’t touch any debt repayments:
West Ham’s debts are frightening and nobody in their right mind would take on such a nightmare. So he’s come up with an ingenious plan.
He basically told Straumur: ‘I’ll turn this club round, I’ll make it profitable and healthy but only if you give me a 50 per cent stake right now and leave me to run the ship with my people.
He then wants Straumur to disappear and leave him to turn the club around.
Usually, stakes in a club might exchange hands for a nominal fee if the buyer takes liability for millions of pounds worth of debt (Ken Bates at Chelsea.) However, it seems Sullivan is asking for half of the club and none of the debt responsibility, in return for a few pearls of business wisdom.
The Spoiler would like to throw our hat into the ring and ask for the other half. We’ll call Sullivan’s £0 and raise him a bottle of Volvic and an empty Maryland cookies wrapper. We’re sure we could offer Gianfranco Zola tactical knowledge gleaned from years of Football Manager, or something.
In other news, new Birmingham City owner Carson Yeung has had to pay £2m out of his own pocket to cover ‘unseen debts’ left over from the previous regime of joint owners the Gold brothers and … David Sullivan.
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