Hammers takeover: Investor may have a very big plan
We were initially told last September that Smith’s 10% investment was a private investment and the American’s interest was akin to a hobby and not part of some elaborate takeover plan. We were told he is a private man who shies away from publicity.
A deeper look into Smith’s background asks more questions than it gives answers .
The former Wall Street guy who worked at Credit Suisse founded GSO Capital Partners in 2005 which was later sold to the Blackstone Group in 2008 for nearly $1 billion.
Smith is an expert in finance raising billions from investors in complicated financial transactions which include Mezzanine financing, rescue financing and leveraged loans including takeovers of companies.
In March this year, he announced he was stepping down from the Blackstone Group this June after 13 years at the helm of GSO Partners – which interestingly more or less coincides with the end of this football season.
Smith bought into West Ham last September buying a ten percent shareholding for an undisclosed sum as part of a package. That package included loaning West Ham £9.5m interest-free which is only payable on change of ownership.
We are supposed to believe that Smith is just a friend of David Sullivan who just likes ‘Soccer’ and there is no agenda but it’s very clear he would be an ideal candidate to raise hundreds of millions for a possible future takeover bid.
What better place to understand the value of the club and its finances than from the inside by buying a seat on the board for his ten percent investment?
We are sure this is not the last you hear of the Tripp Smith story, whether Microsoft Co-founder Paul Allen is a friend or Smith’s or not is irrelevant as Smith would have no problems in finding other investors with uber wealth who trust him.
