An exciting claim has emerged over West Ham’s prospective takeover bid this week…
PAI Capital, the investment group behind a recent £400m offer for the East London outfit, have provided some insight into their offer and plans.
Last month, the Daily Mail first reported the interest, with sources claiming that the proposal would hand manager David Moyes with significant transfer funds, and help transform the London Stadium and the surrounding areas.
This was rejected by the Irons’ majority shareholder David Sullivan. He told The Athletic that the informal approach was “derisory” and “vague”, also suggesting that PAI Capital “had zero interest in the football side and saw it as a property move.”
Now they have broken their silence through a representative, who spoke to Hammers News.
“PAI Capital’s plan is to develop the club within a viable business model that guarantees long term to compete at the top level of English football,” they revealed.
“In case our takeover is successful, there will be a budget allocated to strengthen the squad. The scale of the follow-up investment directly depends on the price we will end up paying for the purchase of the club.
“PAI Capital has an experienced and solid team that developed a clear vision for the club going forward in case our take over is successfully completed.
“We will release more information and the vision in due course.”
Well, that certainly starts to rebuff the claims from Sullivan, especially with further news likely in due course.
There are a couple of key takeaway points from this statement that should leave many around the London Stadium absolutely buzzing. Firstly, it appears they are very committed to this deal and are likely to pursue it as much as they can – unlike previous takeover bids.
Secondly, whilst they still have a lot to prove, there does seem to be some footballing reasons behind the bid, especially as they would back the manager in the transfer market.
That’s yet to really happen this summer, with the Hammers only signing one senior player, which is amongst the lowest in the division.
GSB’s relationship with the West Ham fanbase has been rocky for several years now. Last year, fans protested against the board before games against Everton and Liverpool.
Some of the banners read: “Run like a circus – Owned by clowns” and “GSB out – Sold a dream, delivered a nightmare.”
That was a direct consequence of their relegation battle in 2019/20 but by the end of the subsequent summer, the Irons faithful were up in arms against Sullivan, David Gold and Karen Brady once again following the sale of promising starlet Grady Diangana.
Therefore, if PAI are as serious as they seem to be, then there’s reason to get excited because it’s one foot in the right direction, in terms of finally getting rid of GSB.
The two parties may be far apart in their respective valuations of the club but this is merely the beginning. You can’t help but feel there is plenty more to come in this saga – and that’s certainly a good thing.