Source: Team_Talk
Irons duo 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. Gold and Sullivan injected £20million to save West Ham from administration when they bought half the club from Icelandic bank Straumur in January.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.That plan potentially includes giving supporters part-ownership of their club."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."We hope to find other investors who want to buy some of the club and thereby inject further funds."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."Sullivan predicted West Ham would be looking to make "five or six signings" to improve on this season, which he described as "below expectations".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."We are confident that over the coming years we'll deliver a side that gives our great supporters what they deserve," said Sullivan."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."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."When you choose to spend your money at your club it is right you want something back."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.