Source: Team_Talk
Hammers owners set to increase stake
David Gold and David Sullivan are in the process of increasing their stake in West Ham to 60% - and may offer fans the chance to buy shares.[LNB] Gold and Sullivan injected £20million to save West Ham from administration when they bought half the club from Icelandic bank Straumur in January.[LNB]The former Birmingham owners are now looking to increase their stake in the Upton Park club and they want to attract new investors ahead of next season.[LNB]That plan potentially includes giving supporters part-ownership of their club.[LNB]"We are in the process of increasing our ownership from 50% to 60% by buying another 10% from Straumur. This will inject a further £4million in to help cover the shortfalls in the finances over the summer," Sullivan wrote in his programme notes ahead today's game against Manchester City.[LNB]"We hope to find other investors who want to buy some of the club and thereby inject further funds.[LNB]"In a few months' time we are considering a general shareholding where supporters can buy shares in the football club. Every penny raised would be used to pay off debts and buy new players."[LNB]Sullivan predicted West Ham would be looking to make "five or six signings" to improve on this season, which he described as "below expectations".[LNB]But there no suggestion from either Gold or Sullivan as to whether West Ham manager Gianfranco Zola is part of their plans for the future.[LNB]"We are confident that over the coming years we'll deliver a side that gives our great supporters what they deserve," said Sullivan.[LNB]"The current team and management know that what they have delivered was below the expectations at the start of the season and we simply have to do better next time.[LNB]"I really believe that the Premier League in the 2010-11 campaign will be stronger than in the season that has just finished, so let's not under-estimate the task we all face as supporters.[LNB]"When you choose to spend your money at your club it is right you want something back."[LNB]West Ham would not be the first club to be part-owned by the supporters, with Arsenal fans owning a 12% stake in their club.
