A millionaire West Ham fan who’s friends with majority owner David Sullivan is set for a Reading takeover it is being reported.
League One football club Reading are set to be taken over and the move may interest West Ham fans.
Because it is one of them who is buying the ailing former Premier League club.
On New Year’s Day in 2007 West Ham suffered one of their lowest ever top flight moments at the hands of Reading.
A 6-0 defeat left the Hammers staring at relegation from the top flight.
Millionaire West Ham fan who’s friends with majority owner David Sullivan set for Reading takeover
Now 16 years on West Ham are flying high, have a first trophy for over four decades in the cabinet and are playing a third consecutive season of European football.
Reading sit 22nd in League One and are already being viewed as serious candidates to be relegated to League Two.
But it seems a former Hammers investor wants to come to the rescue.
A millionaire West Ham fan who’s friends with majority owner David Sullivan is set for a Reading takeover.
Reading are set to complete a £50 million sale to William Storey, a British businessman, former Formula One team backer and big Hammers fan.
What’s the Storey? Hammers supporting energy drink brand founder failed with takeover bids for Sunderland and Coventry previously
That’s according to the likes of The Telegraph which reports that terms on a deal were broadly agreed on Wednesday following negotiations between Storey and Dai Yongge, the Chinese owner of the troubled League One club.
The report states Storey, who has recently failed with takeover bids for Sunderland and Coventry City, has pledged to clear club debt in a deal understood to be worth around £50 million and which includes the stadium and the state-of-the-art Bearwood Park training ground.
The 45-year-old is also said to have promised privately to invest in the playing staff once a transfer embargo is lifted.
Reading bid being part funded by wealthy backers
According to PeopleAI, West Ham supporting Storey has an estimated net worth of around £30m. That explains why he is reportedly sourcing some of the funding for his takeover from wealthy backers. The Telegraph states he will now be subject to the Football League’s test for fit and proper owners, which will be vigorous due to new regulations.
The West Ham fan is the founder of Rich Energy, which he previously told Motorsport.com was backed by “four sterling billionaires” reportedly including Hammers majority owner Sullivan.
Storey has also been involved with West Ham previously with Rich Energy being named the official energy drink of the West Ham Ladies team back in 2017.
In a statement at the time West Ham said: “Company CEO William Storey is a Hammers fan and Jack Sullivan is delighted to have the brand on board.”
READ ALSO
Cold hard proof that life after Dec is better for West Ham and Soucek.
Reporter close to Sullivan reveals real truth behind rumours of major new deal.
Euro football experts in full agreement about ‘super impressive’ new-look West Ham.
Receive a digest of our best West Ham content each week direct to your mailbox
