Stefan Borson
Sun 18 May 2025 9:00, UK
West Ham could be set for an ownership shake-up following their miserable season at the London Stadium.
The Hammers board has come under pressure following their disappointing campaign, with Graham Potter’s side struggling in the bottom half of the Premier League table.
West Ham insider ExWHUEmployee reported on 9 May (via The West Ham Way) a wealthy American is preparing to make an offer for the Gold family’s stake in the club.
Vanessa Gold, who inherited her father David Gold’s 25.1 per cent stake following his passing in 2023, previously announced her intention to sell her shares.
Finance expert Stefan Borson exclusively told Football Insider those shares could be worth up to £250million.
He insisted West Ham’s valuation could have increased after Chelsea’s owners have agreed a £20million deal for an eight per cent stake in their women’s team.
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Alongside Gold’s 25.1 per cent, David Sullivan currently holds a 38.8 per cent share in the club, while Daniel Kretinsky’s share is worth 27 per cent and Albert “Tripp” Smith retains an eight per cent shareholding at the London Stadium.
Former Everton chief Keith Wyness told Football Insider Bobby Kotick could be behind the latest West Ham takeover bid.
West Ham
West Ham ‘£100m’ valuation emerges after Chelsea deal
Borson revealed West Ham Women could now be worth £100million on their own following the Chelsea deal.
He told Football Insider: “A 25 per cent stake could be worth a fair bit, especially if their women’s team is now also worth 20 times their revenue.
“They won’t have big revenue, but if an American investor believes that the women’s team and the women’s team proposition has real value on its own, then all of a sudden all of the major clubs have got a major additional asset that sort of came from nowhere in value terms and is now worth maybe £100million on its own, so potentially that’s another little added extra.
“But generally, West Ham are a club with a 60,000 average attendance now, which is notable.
“There may well be a feeling in the investment community, particularly from the US, that relegation is now extremely unlikely for some of these clubs. We are likely to have a situation this season where three teams have got around 40 points and have stayed up.
“Those three teams are Tottenham, Manchester United and West Ham United. It may be that the perception going forward is that actually, if you are a side of big enough scale, then you are more or less guaranteed Premier League survival.
“If that becomes the case and relegation is less of a risk, then valuation should go up because you can have more certainty on what the forward-looking numbers look like.
“The top and bottom of it is, I would think 25 per cent of West Ham could be worth £250million. That doesn’t seem completely unreasonable to me.
“I think it would be ridiculous in the context of what happened at Newcastle just four years ago, where it was bought for £300million, that we would have West Ham being valued at £1billion. But that’s where we are right now.
“If we are saying a women’s team on its own can be worth £225million, then obviously that carries with it the rest of the valuations around the asset. I would think they can quite possibly get between £150-250million for 25 per cent, but it is a non-controlling minority stake.
“Once you’re a minority, there are complexities to what your influence can be in the management of the club.”
Shareholder Stake (%)
David Sullivan 38.8
Daniel Kretinsky 27
Vanessa Gold 25.1
Albert “Tripp” Smith 8
David Sullivan is West Ham’s largest shareholder
West Ham plan to sign Alphonse Areola upgrade
Football Insider revealed on 11 May Potter wants to sign Aaron Ramsdale this summer to improve his goalkeeping options.
West Ham see the 27-year-old as an upgrade on Alphonse Areola and Lukasz Fabianski despite his relegation with Southampton.
Ramsdale has a relegation release clause in his contract, with multiple Premier League clubs understood to be considering making a move to sign him this summer.
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