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Sullivan buys controlling stake in West Ham

SoccerNews in General Soccer News 19 Jul 2013

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David Sullivan has become West Ham’s majority shareholder after purchasing 25 per cent of the club.

Sullivan, along with David Gold, bought an equal share of the club in 2010. However, the 64-year-old has since purchased a further stake in the club’s holding company WH Holding Limited.

That gives Sullivan 55.6 per cent of the shares in West Ham and a controlling stake in the club, with former equal partner Gold remaining on 30.6 per cent.

Sullivan purchased the further shares in West Ham from former owners CB Holding. They retain a small portion of shares, but this is now reduced to just 10 per cent.

His move was part of a deal to restructure £25.5million of the club’s bank debts. According to the last published accounts, West Ham have total debts of £30.5m.

When contacted by OMNISPORT, West Ham declined to make any further comment relating to ownership of the club.

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