Yesterday, Football Benchmark published their valuation of top European football sides, ranking West Ham 16th with a valuation of £1 billion, up 9% on the previous year when the Hammers entered the report for the first time.
However, a senior club source speaking exclusively to Claret and Hugh last night poured cold water on such a high valuation by saying, “David Gold’s family are struggling to sell their shares”
Previously, the same club source has stated that a football club is only worth as much as someone is prepared to pay, and there are questions over demand despite regular takeover stories.
It was October 2023 when Vanessa Gold first made a public statement suggesting her family was prepared to sell a proportion of their shares in West Ham to the right partner, and she employed Rothschild & Co to advise her.
The shares have been offered around the globe despite her father’s estate being in probate until recently, with little serious interest internationally.
West Ham Vice Chairman Karren Brady flew out to the middle east last year to speak to potential investors but returned empty-handed.
The problem with the shares is that it is a minority holding and any big players aren’t going to be interested in that. Minority holdings give no control.In the past one of the existing shareholders would have bought the shares but at the current price levels that’s likely out of Sullivan’s ability and the Czech’s interest. The Gold family either need to get new advisors, or more likely, listen more carefully to those advising them now. If they have cash issues one of the existing holders would probably buy a percentage of holdings now to exercise more control over a bigger eventual sale.
SULLIVAN OUT
Is the club source really a club source, it could be a cook, tea person who knows. Id they’re genuine why not be open about something like this rather than hiding away. Do they even exsist?
Without European football our’ 16th place will slip quite quickly without the additional TV and prize money. Our coefficient rating in Europe will also drop as teams overtake us whilst we do not participate.
Sullivan, the Gold family and Kretinsky would all profit nicely even if the value was £800m. We need to buy and remodel the stadium so it is suited to football. We need a state of the art training facility and that’s before investing in a squad overhaul.
I’m sure we will become a much more interesting takeover opportunity if we drop to Championship as our valuation will plummet.
I suspect the lack of interest is little to do with the value of the club, and everything to do with that fact they’d be forced to work with Sullivan. The ultimate turn-off for any investor.
Nail on the head