West Ham have been the topic of takeovers since 2015, just before they moved into the London Stadium in Stratford, making it the longest takeover saga ever.
In 2016, the Daily Mail started the speculation with a report suggesting the Qatari Investment Authority were planning to spend up to £1 billion to buy the Hammers. This was quickly followed by a rumour that Red Bull had made a £650m bid for the club, which was rejected, according to the board at the time.
In 2021, a strange but doomed bid from PAI Capital came and went.
A plethora of reports have been published over the last decade involving Middle Eastern and American suitors, but nothing has come of any of it.
In the year before his death, I spoke to David Gold, who explained he and other shareholders regularly received barmy offers by email almost weekly, but the vast majority were time-wasters and unable to provide proof of funds.
In 2015, [David Sullivan](https://www.claretandhugh.info/david-sullivan-bio/) said:
> “We have zero desire to sell the club unless the King of Saudi Arabia or the Sultan of Brunei comes along. We’re not going to sell to an American or Chinese consortium. We might sell a minority shareholding to clear our debts, but in all probability our kids will take over from us. We love West Ham — we’re not going anywhere.”
Minority Investors and Missed Opportunities
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In 2017, American multi-millionaire Tripp Smith purchased 10% of West Ham United for £10.5m, also loaning the club another £9.5m interest-free.
He invested another £3m into a £30m rights issue during the pandemic, taking his total investment to £24m.
Another rights issue in 2021 reduced his shareholding from 10% to 8%. That triggered the repayment of his £9.5m loan, taking his investment back to £13.5m.
The 60-year-old was co-founder of GSO Capital Partners, a company he sold to The Blackstone Group in 2008 for around $1bn. He is now Global Head of GA Credit and Managing Director at General Atlantic. In 2020, there were rumours he was forming a consortium to purchase a controlling interest in the club, but nothing came of that.
He has been offered additional shares from Vanessa Gold since 2023, which he and other shareholders have declined to take up.
When he invested in 2017, Sullivan said:
> “He just likes football and West Ham. It’s not a financial move for him, but driven by his love of football and West Ham. He will help us spread the West Ham brand in the USA. He’s a personal friend of mine.”
That didn’t stop West Ham Vice Chairman Karren Brady from earning a £1m bonus for introducing him as a new investor.
Daniel Křetínský and the Myth of a Full Takeover
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Billionaire Daniel Křetínský invested £168.5m for 27% of West Ham in 2021 through a rights issue, reducing the percentages owned by other shareholders.
Křetínský has long been rumoured for a full takeover, but that remains unlikely. His ownership of West Ham played well for the takeover of Royal Mail and investments in other UK companies, including Sainsbury’s and energy providers.
His real love of football is Sparta Prague, where he is chairman and majority owner, and he is very much hands-off with West Ham, allowing his deputies on the board to look after his investment. He is rarely at games and sees his shares purely as an investment when the club is sold.
He had first refusal on the Gold shares, which he turned down, and is too busy increasing his £13 billion business empire to dedicate time to West Ham. His chance of taking over the club is slim to none.
Brady is reported to have received another £1m bonus for “finding” Křetínský as a new investor.
Phantom Bids, Qatari Rumours and Empty Promises
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In 2021 came a bizarre phantom bid by PAI Capital, who approached the London Legacy Development Corporation about leasing Queen Elizabeth Olympic Park and the [London Stadium](https://www.claretandhugh.info/london-stadium-bio/) before speaking to West Ham.
The fake takeover played out largely in the media, with West Ham denying they had received any formal bid or proof of funds.
PAI claimed they first approached West Ham in February 2021 with a £400m offer, which the club later denied. PAI also had the backing of former West Ham players Rio and Anton Ferdinand and Tony Cottee. The takeover talk fizzled out when the media got bored, and PAI Capital were never heard from again.
When David Gold sadly passed away on 4 January 2023, he left his 25% of shares in trust to his daughters. Tragically, Jacqueline later lost her battle with cancer, leaving Vanessa Gold to represent the family interests.
On 31 October 2023, Vanessa announced she had appointed Rothschild & Co to advise on a potential sale to the “right partner”. Over two years later, there have been no serious offers for the 10% on the table, including from existing shareholders.
They are thought to value their full shareholding at around £250m and the 10% at £100m.
It is this lack of interest in that 10% for over two years which is the biggest tell-tale sign of little appetite for a full takeover.
More recently, Qatari links resurfaced after a Swiss-registered Rolls-Royce appeared in the chairman’s parking space. The car belongs to Ali Hussain Alfardan, but in truth the family are personal friends of Sullivan and regular guests in the directors’ box.
Sullivan has two parking spaces and often lends one to visitors on matchdays.
In 2024, Brady flew to Dubai in search of new investors — reportedly with another £1m bonus on offer — but returned empty-handed.
Reality Check: Relegation Changes Everything
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Former Microsoft executive Paul Allen was linked back in 2018. More recently, Guggenheim Partners CEO Mark Walters, Bobby Kotick and Woody Johnson were also loosely connected with possible investment.
As of 2026, I understand several American investors have kicked the tyres and carried out due diligence, but none have provided proof of funds and any formal offer remains distant.
The truth is simple: nobody is paying full price for a club facing relegation, and current shareholders are not prepared to discount their valuation.
Should West Ham go down this season, the most likely outcome is existing owners injecting fresh capital to push for promotion — not walking away.
It appears the current shareholders are going nowhere anytime soon.