By Kris Gonzo | Senior West Ham Columnist (Follow on X)
Fair play to Hammers News, who appear to have spoken directly to former West Ham chairman David Sullivan about his future at the football club.
Sullivan is quoted as saying:
“I have taken a back seat. I love the club and I’ll be watching games as a supporter. I will probably sell when we are back in the Premier League, but it’s a big decision and needs a lot of thought.”
If I’m honest, none of that comes as any great surprise.
As Claret & Hugh has consistently maintained ever since Sullivan stepped down as chairman, one of the reasons Daniel Křetínský has been unable to acquire his remaining shareholding is because Sullivan has effectively been holding out for Premier League prices, despite West Ham now playing Championship football.
Waiting Makes Financial Sense
From Sullivan’s perspective, it makes complete sense.
If West Ham regain promotion at the first attempt, the value of the club inevitably increases, and with it the value of his remaining shares.
Whether supporters like that or not (and I don’t) is another debate entirely, but commercially it’s an annoyingly understandable position to take.
The reality is Sullivan is no longer involved in the day-to-day running of the football club, although I’m sure he continues to be kept informed about major developments.
The suggestion that he’s simply decided to take a step back is perhaps a little disingenuous because, in truth, he had very little choice. Following the Panorama documentary and the historical allegations surrounding him, fellow board members Daniel Křetínský, Vanessa Gold and Albert Tripp Smith asked him to resign as chairman.
Evolution Rather Than Revolution
Sullivan also remains under investigation by the Independent Football Regulator, and it’s entirely possible that the eventual outcome of that process could take the decision out of his hands.
As Claret & Hugh revealed yesterday, the Reuben Brothers remain potential buyers should Sullivan’s shares become available.
For me, the latest comments simply reinforce what we’ve been saying for months.
West Ham supporters understandably wanted to see Křetínský inject money into the club immediately, but there was always a bigger picture.
After all, why would Křetínský pay over the odds for shares, or significantly increase the value of Sullivan’s stake before gaining effective control himself?
Perhaps we simply have to accept that this is a period of evolution rather than revolution.
The football club wasn’t going to be rebuilt overnight after years of poor decision-making at boardroom level. Sullivan digging his heels in with an “I’m not Selling” stance is surely no surprise.
All we can hope is that, once this ownership transition is finally complete, West Ham emerge as a stronger and better-run football club than the one Křetínský inherited.
I will remain slightly nervous until Kretinsky has bought sufficient shares from the Gokd family to be the majority shareholder.
If the club then undertake a Rights Issue, either Kretinsky’s shareholding percentage will increase further (on basis none/not all shareholders participate, in particular Sullivan) or Sullivan does participate and fair does if he does as finally he will be putting new money into the club. The first scenario is definitely my preferred option!
Sullivan , like a rash you cant get rid of.
Again I hope he runs it better than the royal mail( don’t totally trust him)
Gonzo as I have said in a previous comment I was concerned that Sulivan would dig his heels in and not sell. I’m sure I speak for many supporters and followers of the club in saying we want him out of the club. A nice clean break is surly the best thing for him and the club. He can concentrate on his personal issues and the club can get on with a new start.
We all want the instant gratification, but the rebuild was always going to be a long term project.
Sure it can be achieved over a short period of time, with a huge cash injection, but I think Blackburn, Leeds and maybe Leicester should act as a reminder that it’s better if the success comes from a well developed, solid base. One that see success year on year.
Fingers crossed, eh?
COYI ⚒️⚒️⚒️