Newspaper article The Evening Standard (London, England)

Sullivan and Gold Line Up Cut-Price Bid for West Ham

Newspaper article The Evening Standard (London, England)

Sullivan and Gold Line Up Cut-Price Bid for West Ham

Article excerpt

Byline: Ken Dyer

FORMER Birmingham owners David Gold and David Sullivan will make their first move to take over West Ham this week -- but their offer will fall substantially below the asking price of owners CB Holding.

The pair, who sold Birmingham to Hong Kong businessman Carson Yeung for more than [pounds sterling]25million in October, are expected to offer [pounds sterling]30m for West Ham and it is believed they will tell the club they do not intend to take on existing debts and liabilities.

Icelandic company CB Holding have appointed Rothschild and Standard Bank to find new owners and are holding out for more than [pounds sterling]80m plus the club's debts, which are close to [pounds sterling]40m.

However, club sources said today they were "mystifield" by claims that there is a Friday deadline for any takeover to be agreed despite Straumur, which owns a 70 per cent stake in CB Holding, facing a bankruptcy hearing in Iceland on the same day. …

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