Amanda Stavely fired the starting gun on a two month period of instability as she announced her bid for the Gold family’s 25% shares in West Ham United. Existing shareholder rights have to be taken into account before any deal can go ahead so, as that process gets underway, a long hiatus awaits supporters and the wider football world alike before there is any solid resolution.
As the behind-the-scenes boardroom battle commences, the full picture gradually appears a little clearer as snippets of information make their way into the public domain.
Fuelling speculation that future partners – including some well known names very familiar with the redevelopment of this part of east London – may come on board to progress a huge property development scheme as the logical conclusion of a West Ham takeover, city.com today highlights Staveley’s own stated ambition for her ‘project’ in their article:
‘Staveley planning ‘big property play’ as she closes in on West Ham stake’
Amanda Staveley says she is planning a “big property play” in English football as the former Newcastle United closes in on a deal to buy a stake in West Ham United.
In for 25% of West Ham United: Amanda Staveley
Some reports state the £150m investment could value the second-tier club at £600m, and Staveley has hinted that the deal could see changes to the London Stadium, which the club rents through a favourable deal struck by former Irons chief Baroness Karren Brady with a subsidiary of the Greater London Authority.
“Whatever club we take, there’ll be a big property play as well,” Staveley said in an episode of Bloomberg’s Leaders with Francine Lacqua recorded before West Ham confirmed her agreement with Gold on Saturday. “We won’t just do a football-led.
“I just want a challenge, and that’s what excites me. That’s where you get value uplift — when you take something from seedling and allow it to grow.”
Well known is the huge footprint of the existing stadium on the site, which could be available for purchase (it costs the taxpayer tens of millions a year), easily allowing for significant future development of the surrounds as well as a partial rebuild or reshaping of the universally-disliked former Olympic Stadium.
Which in itself would be a magnet to bring in investment partners for the full takeover which most seem to see as the next step should Staveley succeed in acquiring the 25% share. As well as delighting most West Ham fans who don’t enjoy their current London Stadium experience.
In essence, the next couple of months is merely the jumping off point, not the start and finish of the matter, which could see a very different West Ham United and a very different Olympic Park in five years time.
it is always lovely when someone talks to you about venture capital or return on investment, or making profit or undiluted greed, as if you were a 12 year old. Thank you Bloomberg.
Wants to grow from seed? Well then, invest in the Woman’s team – they deserve it, women’s football deserves it, there is enormous potential, however there is not a possible property development at the end of the rainbow nor high turnover, so I guess that won’t happen.
She is simply sniffing for truffles. Not illegal, but purely a front for totally untrustworthy people/investors. You don’t just let anyone waltz in and take complete control.
Circus to become a corporate theme park, clowns unhappy at sharing with the unwashed masses, hope to price them out of the area through gentrification.
👍- funny how that is never mentioned as part of the glitzy redevelopment
I seem to remember PCP trying to buy us and the surrounding area once before, I believe Tony Cottee was on board with the project?