Journalist Sam Inkersole has revealed that West Ham United co-owner David Sullivan’s valuation of the club is putting off a potential takeover.
There is constantly takeover rumours swirling around the Hammers. However, Inkersole doesn’t believe one will come to fruition until Sullivan changes his price tag.
“The duo won’t be selling any time soon and I think Sullivan’s £600m valuation, without even owning their home stadium, is plenty to put enough potential suitors to take over off,” he wrote during a Football London Q & A [15:01].
“They will never spend beyond their means so while the club has shelled out £150m in the last two windows, they have also sold players to make up for that. I still believe they have good intentions but breaking into the top five or six on a regular basis is going to be a tall order unless they commit a lot more cash to the project.”
This is a pretty accurate summation of the situation at West Ham by Inkersole. The club are stuck in no-mans land under Sullivan and David Gold, not receiving enough investment to truly move forward despite seeming to have aspirations of being a ‘big club’. Sullivan and Gold want West Ham to become a big club without having to provide the investment necessary to get the team there. That’s the reality of the situation. So, while some people will point to the £150million spent over the last two summer transfer windows, that is negated by plenty of outgoings to raise cash and reduce the wage bill. That’s not necessarily a bad thing, and it’s certainly no crime, but it’s not going to get the Hammers where they want to go in terms of their place in the Premier League. However, it also seems like there’s not going to be a takeover in the club’s future, because Sullivan has such a high valuation. How can he value the club at £600million when he and Gold don’t even own the stadium? It’s bizarre, and it’s likely going to result in the Irons being stuck in mediocrity.