West Ham’s Co-owner David Sullivan has revealed that the club is paying for the clubs transfers out of his own pocket, according to The Metro.
Sullivan and co-owner David Gold have collectively parted with £105 million worth of transfer funds since taking over the club in January 2010 from an Icelandic consortium led by Eggert Magnusson, which almost left the Hammers in financial ruin.
Sullivan says that he and Gold took over West Ham for the love of the club rather than for financial gain, “As a business venture, buying West Ham made no sense at all. Not the deal we did. The club was £120 million in debt with very few assets. It was a mess.”
Sullivan added, “But David [Gold] and I are not in it for the money. We want to put the best possible team on the pitch for supporters of West Ham because we are supporters too. We are financing everything from our own money. Had we not put money in this year we could have not bought a player.”
It took Sullivan and Gold a while to oversee a positive transformation at the Boleyn Ground. The owners took charge of the Hammers when Gianfranco Zola was manager. After a disappointing season under Zola they replaced the Italian with Avram Grant. Grant only succeeded in guiding West Ham to the Championship, which left current manager Sam Allardyce with the task of sterring the Hammers back to the Premier League.
‘Big Sam’ alongside the co-owners has rejuvenated West Ham, to the extent that the eight-placed Hammers will entertain Sunderland as slight favourites tomorrow.