West Ham co-owner David Sullivan has become the club’s largest single shareholder.
Sullivan and his partner David Gold both bought a 51 per cent share of West Ham in January 2010. But he has now acquired a further 25 per cent stake in the Hammers, which takes his overal personal stake in the club to 56 per cent.
His only previous increase in shares came in four months after their initial purchase when both he and Gold invested in a further 10 per cent, increasing their stake to 31 per cent.
A Legal Week reported reads: “DLA Piper is among a number of law firms to have advised on a deal.
“Sullivan, a longstanding client of DLA, has now acquired a further 25 per cent of shares in West Ham as part of a £25.5m restructuring of the club’s senior debt.”
DLA Piper’s corporate partner, Mel Sims, said: “We are delighted to have advised David on his latest investment in the football club.
“It is an exciting time for West Ham, having had a solid first year back in the Premier League and with the move to the Olympic Stadium on the horizon.”
It appears to be a shrewd move by Sullivan, who has previously claimed the value of the club could “increase from £100million to £700million” when the Hammers move in to the Olympic Stadium.
A breakdown of how the club is owned is as follows:
David Sullivan – 56.6%
David Gold – 30.6&
CB Holding Ltd. – 10%
Minority Investors – 3.8%