West Ham announce Gold and Sullivan takeover

By Simon Hayes on January 19, 2010 10:36 AM |

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West Ham's takeover saga has finally drawn to a close.

The Irons have confirmed that a deal has been completed giving former Birmingham City owners David Sullivan and David Gold a 50 per cent stake in the club.

The deal, which gives the pair operational and commercial control of the Hammers, was concluded late last night and is reported to value the club at £105million.

They beat off competition from Lotus Formula One owner Tony Fernandes, Canary Wharf-based finance company Intermarket and Italian tycoon Massimo Cellio.

Sullivan, a West Ham fan, said: "I have been interested in running West Ham United for 20 years and I can't wait to start work.

"It will be an immense privilege to lead this great football club and more importantly its supporters.

"Our first priority has to be securing the Premier League status of West Ham. I believe the players at this club have shown great commitment in trying circumstances and the new board and I will get behind them in every way we can.

"We will also look to bring in new players to supplement the squad where needed, once we have met the manager."

The Irons are currently 16th in the Premier League. Fans will be praying Gold and Sullivan will now bring the stability the Hammers have lacked for several years.