West Ham chairman David Sullivan confirms talks with Middle East investors

31 March 2010 11:47
West Ham were handed a much need fillip today as co-chairman David Sullivan confirmed he was in Dubai to hold talks with potential Middle East investors.[LNB]The relegation-threatened club face an uncertain future with on-pitch strife mirrored by the financial figures off it.[LNB]The Hammers narrowly avoided administration when Sullivan, along with David Gold, secured a 50 per cent stake in the club for £52million in January. [LNB] Down but not out: David Sullivan (above) hopes to secure investment in West Ham which will help strengthen the squad and avoid the travails of this year (below)[LNB] With debts crippling the East London outfit, the pair instantly sought further investment. They originally invited bid-rival Tony Fernandes, owner of Air Asia, head of the Lotus Formula One team and a lifelong West Ham supporter, to come on board but he has so far declined to become involved.[LNB]Now Sullivan, along with vice-chairman Karren Brady, are looking further afield to secure the club's long-term future.[LNB]'I am in Dubai with Karren but I cannot comment further as our talks our strictly confidential,' Sullivan told ESPNsoccernet. [LNB]'However, it is clear to everyone that West Ham need an injection of cash as when we took over in January it was £110m in debt and we have been working non-stop and have cut it down to just over £90m.'[LNB]Sullivan and Brady hope to negotiate a deal for Icelandic group Straumur's remaining 50% shareholding at West Ham. Sullivan and Gold, though, do have the option over the next four years to acquire the remaining that stake.[LNB] West Ham manager Zola not averse to having a little more time at homeMartin Samuel: Sullivan missed his cue to axe under-fire Zola, and he knows itTHE LIST: Sportsmail's top 50 most entertaining teams in history - Nos 30-21Des Kelly: Going drown... it's Admiral Sullivan and his sinking ship'I'll fight to keep West Ham up' - Under-fire Zola battles on for survivalWEST HAM UNITED FC

Source: Daily_Mail