The London Daily News

20 January, 2010 09:51 (GMT +00:00)

Sullivan brandishes West Ham purchase as "making no sense" commercially

News Desk

The new owners of east London football club West Ham United have said to the Financial Times that is makes "no commercial sense" to purchase a Premier League football club.

The deal to buy West Ham was confirmed this week, with David Gold and David Sullivan buying 50 per cent of the East London club in a deal that valued West Ham at £105 million.

Sullivan outlined the current liabilities of West Ham which include £20 million to Sheffield United, for breaking rules over player’s third party ownership, and severance pay to former manager Alan Curbishley. Added to that there is a large wage bill, and unpaid transfer fees. Debts at the club have been estimated to hit £100 million.

West Ham are currently hovering above the drop zone in 16th place, and are currently managed by Gianfranco Zola, who was given a commitment by the new owners to retain his services.

Sullivan and Gold are believed to be providing new revenue to buy new players, but Sullivan has already warned that it was not "a good time" to buy players.

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