Is David Sullivan preparing West Ham for relegation as report makes claim over big property sale

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Is West Ham United co-owner David Sullivan making plans for relegation to the Championship?

West Ham have slipped into the Premier League relegation zone.

The dismal collapse in the 3-3 home draw with Brighton last time out saw to that.

West Ham have only won six games all season.

And David Moyes must somehow guide them to another five in their last 14 games to secure survival.

With Manchester City and Liverpool up next – both away from home – West Ham’s hopes look bleak.

Relegation would leave West Ham in ‘serious financial trouble’

A recent report from Claret and Hugh – which regularly claims to have a top level source at West Ham – says the club would end up in ‘serious financial trouble’ if they are relegated from the Premier League this season.

“The owners would have no choice but to inject tens of millions of cash as they did in 2011 or borrow money from elsewhere,” Claret and Hugh claim.

Indeed the club admitted as much in their latest financial report (BBC Sport).

That is despite West Ham being named the 18th richest club in the world in the 2020 Deloitte Football Money League.

Is Sullivan planning £50m sale to plug potential hole in Hammers finances?

So is co-owner Sullivan planning ahead to plug the hole in the club’s finances if relegation does become a reality?

CoStar News claims Sullivan – who has amassed a vast property portfolio – is putting one of his flagship sites up for sale for £50million.

CoStar News reports that Sullivan is trying to sell his Russell and Bromley store on Oxford Street.

“The store, located at 395-397 Oxford Street, which is owned by Sullivan’s investment vehicle Conegate, is held on a long leasehold with 137 years unexpired and is 100% let to the shoemaker until 2038, market sources said,” reports CoStar News.

“The property currently brings in rent of £1,600,000 per annum, they added.”

According to The Sunday Times Rich List in 2019, Sullivan is worth £1.15bn. That made him the 133rd richest man in the UK.

Irony of Sullivan’s property portfolio for anchor tennants West Ham

Whether the mooted £50m sale of the store would be used to mitigate the dire consequences of potential relegation remains to be seen.

The prospective sale could be completely unrelated to West Ham’s troubles.

Only time will tell but West Ham fans will be desperately hoping it won’t be needed for that purpose.

Sullivan’s property portfolio is somewhat ironic given West Ham under his stewardship no longer own their own ground.

Now it is over to Moyes and the team to ensure West Ham remain in the Premier League.