West Ham United are set to get a £30million cash injection from co-owners David Sullivan and David Gold.
And the Hammers – subject of fresh, unverified, takeover speculation at the weekend – are said to be worth over £600 million.
That’s according to the new Sunday Time Rich List 2020.
Sullivan is West Ham’s main money man. And he was 135th on the rich list with a fortune of £1.1bn, down two places and £50m on last year.
Rich List lifts lid on wealth of West Ham owners
Jacqueline and Vanessa Gold, the daughters of Sullivan’s fellow co-owner Gold, are listed as the 49th wealthiest women with a £460m empire.
The new Sunday Times Rich List has been released against the backdrop of huge financial uncertainty in football as a result of the global health crisis.
The newspaper included a profile on Sullivan’s wealth.
Hammers set for £30m crisis cash injection
And it claims he and Gold will inject £30m into West Ham to help the club through the crisis.
West Ham are also valued at more than £600m in the report, which claims speculation of a £650m takeover bid for the Hammers back in 2016 was genuine.
“David (Sullivan) has struggled to transform the men’s club into a Premier League power since taking it over 10 years ago with David Gold (qv), though they beat rivals Spurs to move into the 60,000-seat former London Olympic stadium in 2016,” The Sunday Times states.
“Sullivan Sr, 71, Gold and other shareholders are injecting £30m into the club to keep it going during the Covid-19 crisis.
Report confirms £650m West Ham takeover bid
“A £650m offer for West Ham in 2016 valued Sullivan’s 51% stake at about £325m.
“Born in Cardiff, the economics graduate made his first millions in his twenties via sex shops and erotic films. In the 1970s he was said to control half the UK’s adult magazine titles.
“His focus is now on property.
“His Rickleford Group and Rosequake Investment Holdings showed £274.2m combined net assets in 2017-18.”