Hammers not for sale on the cheap

The Athletic say that investor Joseph DaGrosa may look elsewhere if Southampton’s majority owner Gao Jisheng does not lower his price for the Premier League club.

The internet ‘newspaper’ claims  Newcastle United and West Ham United would be possible alternative clubs for him.

DaGrosa believes the coronavirus pandemic has wiped at least £50m off Southampton’s value, but the current Saints majority owner is clearly not keen on selling the club for £150m.

Newcastle was the subject of a Saudi Arabia’s Public Investment Fund £300m takeover which has stalled but Mike Ashley is unlikely to lower his asking price because of the pandemic.

West Ham were linked with a takeover last September with a phantom enquiry from an American consortium which came to nothing.

Claret and Hugh understands that West Ham shareholders would want at least £500m to sell and see no reason to discount that valuation in the current climate.

Any serious bidder would need to demonstrate proof of funds before any meaningful negotiations or due diligence could take place.

If Dagrossa doesn’t want to pay £200m for the Saints it is difficult to believe he would pay £500m for the Hammers.