Friday, 19 July 2013

Sullivan becomes Hammers majority shareholder

By Alex Shilling, News Editor

@alexshilling on Twitter

West Ham co-chairman David Sullivan has become the club's majority shareholder after purchasing a controlling interest in the club.

Sullivan had previously been an equal partner in the Upton Park club with business partner David Gold, but now owns 55.6% of West Ham after purchasing a further 25% in shares from CB Holdings, which had controlled the club after former chairman Bjorgolfur Gudmundsson was declared bankrupt.

The former Birmingham owner's investment is said to be part of a restructuring plan for the club's £25.5m debt, while Gold owns 30% of WH Holdings, the Hammers' parent company and CB Holdings' stake in the club has been cut to 10%.

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