David Sullivan could have an exit strategy up his sleeve at West Ham, according to football finance expert Dan Plumley.
The majority shareholder of the club has welcomed new investment in the club in recent years, most notably the decision to sell 27% of the club to Czech billionaire Daniel Kretinsky in 2021.
Since then, there have been reports of other investors circling the London Stadium, including NBA legend and serial investor Shaquille O’Neal reportedly being in talks to buy in a stake in the club back in the summer, while the late David Gold’s daughter, Vanessa, has put 10% of their family’s 25.1% stake in the club up for sale.
Sullivan has had to bear the brunt of fans’ frustration throughout his time as the club’s custodian, with much of the criticism aimed towards him justified. An array of poor decision making, including failed managerial appointments, dodgy player recruitment and the controversy surrounding the move from Upton Park to London Stadium.
However, much of the heat he has become so accustomed to had been cooled over the past few years as David Moyes transformed the club from relegation battlers to regular top-six contenders, as well as winning the club’s first major silverware in a generation.
But the pressure is beginning to be aimed towards Sullivan once again, despite a summer that involved backing his new boss with around £150m of new players. Fans have grown increasingly frustrated once again after a slow start to the new campaign under Julen Lopetegui, with some claiming Sullivan’s hand in the managerial recruitment process meant we missed out on better candidates.
Despite the success of the last few years, fans have always maintained their stance that the club would be much better off if Sullivan were to sell his stake in the club, preferably to someone that has the financial power to supercharge West Ham’s potential.
And while there are no hints that this is going to happen in the immediate future, Plumley has hinted that recent investment in the club potentially hints that there is an exit strategy at play for Sullivan.
Speaking to West Ham Zone, the football finance expert said: “We know of course with the new investment that’s come into West Ham over the last few years that we were kind of thinking there might be an exit strategy for Sullivan in due course.
“What may happen at the club in the future is more probably linked to the new investment coming in that the current group that has had it for a long time.”
Plumley’s comments come after it was revealed Sullivan was set to lose £10m on his London mansion, with the businessman admitting to Bloomberg that he “was selling it at a loss now” after buying the house for £27m in 2015 and then spending £50m on renovations. The mansion is now on the market £65m.
That understandably led to concerns of whether taking such a financial hit in his personal life might affect West Ham’s financial dealings, but Plumley has dismissed these concerns.
“I don’t think it has any direct bearing on the situation at London Stadium,” he added.
“People will always talk about it, that’s for sure, but it doesn’t seem to have any direct bearing on the club.”
