Announced today:
Sky Sports News understands that David Gold and David Sullivan have completed their takeover of West Ham United.
The former Birmingham City co-owners have pieced together a package that valued the Upton Park side at £105million.
Sullivan has taken control of 50 per cent of the club, although West Ham are yet to confirm the news officially.
Karren Brady, who worked with the duo at St Andrews, is expected to be named vice-chairman once details of the deal are revealed.
Tony Fernandes, who was one of four parties looking to buy the club, conceded defeat in his chase for the Premier League side.
The Malaysian businessman revealed on his Twitter feed: "Deal lost on West Ham. Hopefully new owners protect what's good.
"We gave awesome deal and new ideas to rejuvenate a club and bring excitement."
Source: skysports.com
Could be good news for the Hammers, as they have limped along for the past few seasons. Gold and Sullivan turned Birmingham around and could do well at the Boleyn Ground
They've also announced Zola will stay as manager and they have some ambitious plans for the club:
West Ham United's new co-owner David Sullivan has confirmed that manager Gianfranco Zola will remain in charge of first-team affairs.
Sullivan and David Gold have completed their takeover of the Upton Park side after buying 50 per cent of the club on Tuesday, sparking immediate rumours of possible changes.
With the Hammers currently struggling at the wrong end of the table it had been thought the club's new owners could axe the popular Italian.
However, Sullivan believes in stability and insists he will back Zola in the transfer market to turn around their fortunes on the pitch.
When questioned on whether Zola was staying at the helm Sullivan told Sky Sports News: "Absolutely. He's categorically staying.
"I'll be sitting down with him to work on transfer targets. We as outsiders realise he needs a few additions to enhance his chances of staying in the Premier League."
West Ham had been linked with a move for ex-Manchester City boss Mark Hughes and, along with denying he was keen on the Welshman, Sullivan is looking to promote stability at the club.
"At Birmingham we don't change managers frequently. In 16-and-a-half years we sacked two managers that's all. We believe in stability," he continued.
Although Sullivan is excited to take over the club he loves he admits the finances are a mess and that they will invest serious money in order to straighten things out.
He admits securing their top-flight status remains their immediate goal, although he has unveiled a seven-year plan in which he wants them playing UEFA Champions League football.
In order to boost their annual turnover Sullivan is hoping to persuade the government to let the club play in the new Olympic Stadium, which will be the centrepiece of the 2012 Olympic Games.
"I don't think we'd have bought West Ham if we were not West Ham fans," he added. "From a business point of view I don't think anyone would buy West Ham. It's a serious mess.
"We are West Ham fans. We have a seven-year plan to get them into the Champions League and turn them into a big club. Over the seven-year period we do plan to spend a lot of money.
"We'll do what is necessary over the coming years to turn the corner for West Ham. West Ham if they would have kept their best young players would have been the best team in the country, but they sold them all.
"We'll buy and keep the players. We have a long-term plan to be in the Champions League, short term is all about survival and getting behind the team. These are exciting times.
"We're deeply and passionately involved with West Ham. It's where we've always wanted to be. It's where I've wanted to be for 20 years. I was never popular with the Birmingham fans.
"We've got the club that we've always wanted. Myself and David 20-odd years ago owned 27 per cent of West Ham. West Ham is the club that we've always wanted to own.
Olympic Stadium
"We hope we can persuade the government to let West Ham move to the Olympic Stadium, which is in the same borough as West Ham. It's a natural home for the club. All the people of East London would support that move."
Sullivan has an option to purchase the remaining 50 per cent of the club and he has confirmed he would welcome aboard additional investors, including Tony Fernandes.
The Malaysian businessman was vying, along with Gold and Sullivan, to buy the club, before finally admitting defeat in his attempts to secure a takeover.
Sullivan knows there is a long and hard road ahead for the West Ham board and believes their challenge would be much easier if Hammers fans got together and invested in the club.
"We've bought 50 per cent of the club," he concluded. "I've got an option to buy the other 50 per cent of the club. If they want to get involved they'd be most welcome.
"We welcome long-term partners. It involves a lot of money. Anyone who wants to put £10million to £15m into the club they can buy 10 to 15 per cent of the club.
"We welcome other investors. We'll approach Tony. He's a very, very passionate West Ham fan. We hope he will join us in some sort of national unity purchase of West Ham."
source: skysports.com
Sky Sports News understands that David Gold and David Sullivan have completed their takeover of West Ham United.
The former Birmingham City co-owners have pieced together a package that valued the Upton Park side at £105million.
Sullivan has taken control of 50 per cent of the club, although West Ham are yet to confirm the news officially.
Karren Brady, who worked with the duo at St Andrews, is expected to be named vice-chairman once details of the deal are revealed.
Tony Fernandes, who was one of four parties looking to buy the club, conceded defeat in his chase for the Premier League side.
The Malaysian businessman revealed on his Twitter feed: "Deal lost on West Ham. Hopefully new owners protect what's good.
"We gave awesome deal and new ideas to rejuvenate a club and bring excitement."
Source: skysports.com
Could be good news for the Hammers, as they have limped along for the past few seasons. Gold and Sullivan turned Birmingham around and could do well at the Boleyn Ground
They've also announced Zola will stay as manager and they have some ambitious plans for the club:
West Ham United's new co-owner David Sullivan has confirmed that manager Gianfranco Zola will remain in charge of first-team affairs.
Sullivan and David Gold have completed their takeover of the Upton Park side after buying 50 per cent of the club on Tuesday, sparking immediate rumours of possible changes.
With the Hammers currently struggling at the wrong end of the table it had been thought the club's new owners could axe the popular Italian.
However, Sullivan believes in stability and insists he will back Zola in the transfer market to turn around their fortunes on the pitch.
When questioned on whether Zola was staying at the helm Sullivan told Sky Sports News: "Absolutely. He's categorically staying.
"I'll be sitting down with him to work on transfer targets. We as outsiders realise he needs a few additions to enhance his chances of staying in the Premier League."
West Ham had been linked with a move for ex-Manchester City boss Mark Hughes and, along with denying he was keen on the Welshman, Sullivan is looking to promote stability at the club.
"At Birmingham we don't change managers frequently. In 16-and-a-half years we sacked two managers that's all. We believe in stability," he continued.
Although Sullivan is excited to take over the club he loves he admits the finances are a mess and that they will invest serious money in order to straighten things out.
He admits securing their top-flight status remains their immediate goal, although he has unveiled a seven-year plan in which he wants them playing UEFA Champions League football.
In order to boost their annual turnover Sullivan is hoping to persuade the government to let the club play in the new Olympic Stadium, which will be the centrepiece of the 2012 Olympic Games.
"I don't think we'd have bought West Ham if we were not West Ham fans," he added. "From a business point of view I don't think anyone would buy West Ham. It's a serious mess.
"We are West Ham fans. We have a seven-year plan to get them into the Champions League and turn them into a big club. Over the seven-year period we do plan to spend a lot of money.
"We'll do what is necessary over the coming years to turn the corner for West Ham. West Ham if they would have kept their best young players would have been the best team in the country, but they sold them all.
"We'll buy and keep the players. We have a long-term plan to be in the Champions League, short term is all about survival and getting behind the team. These are exciting times.
"We're deeply and passionately involved with West Ham. It's where we've always wanted to be. It's where I've wanted to be for 20 years. I was never popular with the Birmingham fans.
"We've got the club that we've always wanted. Myself and David 20-odd years ago owned 27 per cent of West Ham. West Ham is the club that we've always wanted to own.
Olympic Stadium
"We hope we can persuade the government to let West Ham move to the Olympic Stadium, which is in the same borough as West Ham. It's a natural home for the club. All the people of East London would support that move."
Sullivan has an option to purchase the remaining 50 per cent of the club and he has confirmed he would welcome aboard additional investors, including Tony Fernandes.
The Malaysian businessman was vying, along with Gold and Sullivan, to buy the club, before finally admitting defeat in his attempts to secure a takeover.
Sullivan knows there is a long and hard road ahead for the West Ham board and believes their challenge would be much easier if Hammers fans got together and invested in the club.
"We've bought 50 per cent of the club," he concluded. "I've got an option to buy the other 50 per cent of the club. If they want to get involved they'd be most welcome.
"We welcome long-term partners. It involves a lot of money. Anyone who wants to put £10million to £15m into the club they can buy 10 to 15 per cent of the club.
"We welcome other investors. We'll approach Tony. He's a very, very passionate West Ham fan. We hope he will join us in some sort of national unity purchase of West Ham."
source: skysports.com