West Ham Takeover Complete

[Steve 10,227]

West Ham are "very close" to being bought by former Birmingham City owners David Gold and David Sullivan, BBC Sport understands.

Lotus F1 chief Tony Fernandes, thought to be the duo's main rival, pulled out of the race on Monday evening.

Finance firm Intermarket and Italian Massimo Cellino are the other known interested parties.

"Gold and Sullivan are the real front-runners now," said 5 live's senior football reporter Ian Dennis.

"At one stage or another they've all been touted as being favourites to take over at West Ham but I understand that Gold and Sullivan are very, very close now to moving in.

"It will be a relief, not only to the supporters but also to [manager] Gianfranco Zola, so that they can now concentrate on on-the-field matters."

The club are currently owned by CB Holding, which has indicated West Ham are £38m in debt.

The main shareholder in CB Holding is Icelandic bank Straumur, which has previously said it was in no hurry to sell the club - although that was before the various bidders became known.

At one stage Fernandes was seen as the favourite to take over but admitted defeat on Monday evening when he told his Twitter feed: "Deal lost on West Ham. Hopefully new owners protect what's good. We gave awesome deal and new ideas to rejuvenate a club and bring excitement."

West Ham have effectively suspended any activity in the January transfer window until the takeover situation is resolved.

Dennis added: "My understanding is that they don't have to sell in the transfer window. There have been rumours about Scott Parker maybe moving on but if the takeover happens sooner rather than later I don't think there will be any departures from Upton Park."

Hammers boss Zola, whose future may hinge on which bid wins, acknowledged the situation was frustrating.

"These players, this team, they deserve to be helped. Stability for the club would be massive," he said after a 0-0 draw at Aston Villa on Sunday lifted his side out of the Premier League relegation zone.

"Right now we can't do anything we just have to wait for something to happen with the club. Once we know where the club is going, then we have a chance."

The interested parties:

David Gold/David Sullivan - Former Birmingham City owners have been determined suitors of the Hammers for several months. They once held shares in the club and boast the liquid assets required.

Intermarket - Finance firm based in London's Canary Wharf, made money with the FX currency exchange business. Ex-West Ham striker Tony Cottee is an adviser but chief executive Jim Bowe died in America earlier in January.

Massimo Cellino - The president of Serie A club Cagilari emerged as a potential late bidder last week and there were even reports in Italy he had secured a deal but these proved premature.

The pair guided West Ham to ninth in the table after a sticky start. West Ham are currently 16th in a season that has been plagued by injuries and off-the-field distractions.Former Chelsea favourite Zola, and assistant Steve Clarke, took the managerial reins at West Ham in September 2008 after Alan Curbishley's departure.

"I know I can do this job but you always have to prove yourself every day," said Zola on Friday.

"I am not going to go to anyone and say 'look, I am doing well'. The results do the talking. If what I am doing is not good enough on the pitch it is right they change."

BBC

[CFC58 22]

I hope Zola and Clarke are kept on the club. I always hoped that if they do wonders then they would eventually come back to Chelsea when the time is right.

[Steve 10,227]

Sky Sports News understands that David Gold and David Sullivan have completed their takeover of West Ham United.

The former Birmingham City co-owners have pieced together a package that valued the Upton Park side at £105million.

Sullivan has taken control of 50 per cent of the club, although West Ham are yet to confirm the news officially.

Karren Brady, who worked with the duo at St Andrews, is expected to be named vice-chairman once details of the deal are revealed.

Tony Fernandes, who was one of four parties looking to buy the club, conceded defeat in his chase for the Premier League side.

The Malaysian businessman revealed on hisTwitter feed: "Deal lost on West Ham. Hopefully new owners protect what's good.

"We gave awesome deal and new ideas to rejuvenate a club and bring excitement."

Sky

[Steve 10,227]

West Ham United's new co-owner David Sullivan has confirmed that manager Gianfranco Zola will remain in charge of first-team affairs.

Sullivan and David Gold have completed their takeover of the Upton Park side after buying 50 per cent of the club on Tuesday, sparking immediate rumours of possible changes.

With the Hammers currently struggling at the wrong end of the table it had been thought the club's new owners could axe the popular Italian.

However, Sullivan believes in stability and insists he will back Zola in the transfer market to turn around their fortunes on the pitch.

When questioned on whether Zola was staying at the helm Sullivan told Sky Sports News: "Absolutely. He's categorically staying.

"I'll be sitting down with him to work on transfer targets. We as outsiders realise he needs a few additions to enhance his chances of staying in the Premier League."

West Ham had been linked with a move for ex-Manchester City boss Mark Hughes and, along with denying he was keen on the Welshman, Sullivan is looking to promote stability at the club.

"At Birmingham we don't change managers frequently. In 16-and-a-half years we sacked two managers that's all. We believe in stability," he continued.

Although Sullivan is excited to take over the club he loves he admits the finances are a mess and that they will invest serious money in order to straighten things out.

Champions League

He admits securing their top-flight status remains their immediate goal, although he has unveiled a seven-year plan in which he wants them playing UEFA Champions League football.

In order to boost their annual turnover Sullivan is hoping to persuade the government to let the club play in the new Olympic Stadium, which will be the centrepiece of the 2012Olympic Games.

"I don't think we'd have bought West Ham if we were not West Ham fans," he added. "From a business point of view I don't think anyone would buy West Ham. It's a serious mess.

"We are West Ham fans. We have a seven-year plan to get them into the Champions League and turn them into a big club. Over the seven-year period we do plan to spend a lot of money.

"We'll do what is necessary over the coming years to turn the corner for West Ham. West Ham if they would have kept their best young players would have been the best team in the country, but they sold them all.

"We'll buy and keep the players. We have a long-term plan to be in the Champions League, short term is all about survival and getting behind the team. These are exciting times.

"We're deeply and passionately involved with West Ham. It's where we've always wanted to be. It's where I've wanted to be for 20 years. I was never popular with the Birmingham fans.

"We've got the club that we've always wanted. Myself and David 20-odd years ago owned 27 per cent of West Ham. West Ham is the club that we've always wanted to own.

Olympic Stadium

"We hope we can persuade the government to let West Ham move to the Olympic Stadium, which is in the same borough as West Ham. It's a natural home for the club. All the people of East London would support that move."

Sullivan has an option to purchase the remaining 50 per cent of the club and he has confirmed he would welcome aboard additional investors, including Tony Fernandes.

The Malaysian businessman was vying, along with Gold and Sullivan, to buy the club, before finally admitting defeat in his attempts to secure a takeover.

Sullivan knows there is a long and hard road ahead for the West Ham board and believes their challenge would be much easier if Hammers fans got together and invested in the club.

"We've bought 50 per cent of the club," he concluded. "I've got an option to buy the other 50 per cent of the club. If they want to get involved they'd be most welcome.

"We welcome long-term partners. It involves a lot of money. Anyone who wants to put £10million to £15m into the club they can buy 10 to 15 per cent of the club.

"We welcome other investors. We'll approach Tony. He's a very, very passionate West Ham fan. We hope he will join us in some sort of national unity purchase of West Ham."

Sky

[CFC58 22]

interesting, seven year plan to get into the Champions League with promise of spending big. Wonder if Zola will be brining anyone in this month.

I wonder if they will be allowed to move into Olympic Stadium.

[Term-X 7,891]

interesting, seven year plan to get into the Champions League with promise of spending big. Wonder if Zola will be brining anyone in this month.

I wonder if they will be allowed to move into Olympic Stadium.

they should be able to, makes no sense at all for them to destroy it by making it smaller for rugby

Edited January 20, 2010 by Terminator X

[EskWeston 696]

Had to laugh at the jacket Sullivan was wearing for the takeover

Don't see how they can hope to spend enough to take them to Champions League football with all that debt and no sign of any real money coming in from anywhere? Too seems to rest on taking over the olympic Stadium which doesn't look very likely.

[Fulham Broadway 16,437]

Had to laugh at the jacket Sullivan was wearing for the takeover

Don't see how they can hope to spend enough to take them to Champions League football with all that debt and no sign of any real money coming in from anywhere? Too seems to rest on taking over the olympic Stadium which doesn't look very likely.

Lol cross between a Butlins redcoat and a clown.

Yup they're just looking for personal profit even though the clubs in debt, just like the Glazers have done

Both him and Gold made their dosh from smut and filth. West ham has been bought on the backs of blokes masturbatory fantasies looking at such titles as 'Big Tits Monthly' and 'Asian Babes'.

Wonder if they'll have a new mag 'Blowing Bubbles ?'