West Ham hunt 40m investment as new owners eye end to financial woe

Published: 05 Feb 2010 - 14:24:41

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West Ham hunt 40m investment as new owners eye end to financial woe

West Ham have announced plans to raise £20-40million from professional investors in a bid to solve the club's financial problems. The Hammers were bought by former Birmingham owners David Sullivan and David Gold last month with reported debts of around £100m. Fundraiser: West Ham co-owner David Sullivan (below) wants new investment to help improve the Hammers' performance both on and off the pitch Sullivan acquired 50 per cent of the club in a deal valuing it at £105m, becoming chairman. Former Birmingham chief executive Karren Brady also joined the Hammers as deputy chairman. West Ham have approached Shore Capital and Corporate to conduct the fundraising, which is initially aimed at professional investors but may be opened up to fans at a later date. Brady said: 'Although this fundraising is initially aimed at professional investors, I would love to be able to bring in our loyal and fantastic fan base as investors further down the line so that they can share in the club's great future, on and off the pitch. 'This is an option which we have seriously under review.' What the back pages say: £1bn windfall for Premier League clubs, Manchester City players offered £1m to finish in top four and win FA Cup ALL THE WEEKEND BARCLAYS PREMIER LEAGUE TEAM NEWS Spurs No 10, Chelsea No 25, United No 7, West Ham No 6 and Newcastle No 9: So what's the iconic shirt at your club?WEST HAM UNITED FC