Consortium behind proposed £400m takeover of West Ham insist they DID provide proof of funds to David Sullivan as they hit out at 'unhelpful and inaccurate' Hammers owner

  • A group of investors have made a takeover bid for West Ham worth over £400m
  • But they saw their opening offer rejected by majority shareholder David Sullivan
  • Sullivan claimed that the group could not prove they could stump up the money

The consortium attempting to buy West Ham has fired back at claims from the club’s owner David Sullivan that they could not provide proof of funds.

As Sportsmail revealed last week, an investor group led by former QPR chief executive Philip Beard made an offer of more than £400million for the Hammers, but saw it rejected by Sullivan.

He accused the bidders of not providing proof they could stump up the money — and now Beard has roundly rejected those claims in a statement on behalf of the group.

A group of UK-based investors have made a takeover bid for West Ham worth over £400m

A group of UK-based investors have made a takeover bid for West Ham worth over £400m

‘It is necessary to correct unhelpful and inaccurate statements,’ said Beard. ‘In response to David Sullivan’s comments about the nature and value of the bid put forward by the consortium, I can confirm that a formal offer was made which was in fact the figure that Sullivan had initially asked for.


‘Our city lawyers were instructed and David Sullivan was provided with a proof of funds.

At no point were we asked to produce further information about our football strategy. It was quite clear to me that David Sullivan’s sole focus was on price.

‘We remain committed to pursuing opportunities to purchase the club.’

The consortium saw their offer rejected by Hammers majority shareholder David Sullivan

The consortium saw their offer rejected by Hammers majority shareholder David Sullivan

The consortium includes former QPR chief executive Philip Beard, who worked closely on the London 2012 bid and spent three years as chief executive of The O2

The consortium includes former QPR chief executive Philip Beard, who worked closely on the London 2012 bid and spent three years as chief executive of The O2

The group remain determined to strike a deal.

Beard worked closely on the London 2012 bid and spent three years as chief executive of The O2. He worked on the Greenwich Park venue development and a similar transformation of West Ham's stadium and the surrounding area are part of the proposals.

The consortium want to turn the Hammers into a major force, while ensuring the legacy of the 2012 Games is fulfilled. The deal would also see Moyes given an increase in his transfer kitty.

Other clubs are monitoring the bid situation with interest.

However, there has been frustration from those involved over the subsequent rejection. Sources with knowledge of the group say those involved are 'deadly serious'.

They are keen to get the deal done as soon as possible so the club can build on last season’s sixth-placed finish — and also ensure that the 10th anniversary of the Games is marked accordingly.

The group remain determined to strike a deal for the Hammers despite Sullivan's comments

The group remain determined to strike a deal for the Hammers despite Sullivan's comments

Sullivan has previously claimed he turned down a tentative bid of £650m, and an offer from an American-based group worth around £400m was knocked back last year.

Any takeover would be complex. Last week, the Sunday Telegraph reported that taxpayers will be hit with a £35m bill for a planned revamp of the stadium.

A West Ham spokesperson said: ‘We have received no formal offers to buy the club.’