PAI Capital chief Nasib Piriyev makes astonishing new West Ham takeover claim and says David Sullivan and David Gold could stay as life presidents

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PAI Capital chief Nasib Piriyev has made an astonishing new claim about his firm’s takeover bid for West Ham United saying David Sullivan and David Gold could stay on as life presidents.

The group of UK investors – fronted by former QPR chief Philip Beard with self-confessed West Ham fan Piriyev at its heart – had seen a £400m bid for the club rejected by majority stakeholder David Sullivan.

PAI released a statement last month saying it had stepped aside after seeing a second bid for West Ham rebuffed by Sullivan (Evening Standard).

The firm’s bid had been backed by club legend Tony Cottee and fellow former West Ham academy graduates Rio Ferdinand and his brother Anton.

Hammers News spoke to PAI first about their plans for West Ham should a takeover bid be successful.

But it had divided opinion among West Ham fans.

Following PAI’s claim that they had withdrawn from actively trying to buy West Ham, Hammers News then spoke to Sullivan who insisted there was never a proper bid and described Piriyev and co as ‘unsuitable custodians’.

Now, in the wake of the Saudi takeover of Newcastle United, Piriyev has re-emerged on The Athletic’s Football Podcast and made a new claim that PAI’s offer remains on the table for West Ham and that Sullivan and Gold could stay on as ‘life presidents’.

And when asked why he wanted to own West Ham, Piriyev said because it is ‘fun and exciting’.

“I think in business there are some situations where there is a stalemate because of the timing of the event,” Piriyev told The Athletic’s Football Podcast.

“When we (first) approached them the club wasn’t doing well. The pricing which they offered to us – which all can be evidenced, it’s all in emails etc, all formal – that pricing worked for us, we looked at it, we agreed and we decided to go forward…

“There was quite a rude reaction (from Sullivan when details of the bid were leaked in the press) and so our partner Phil Beard thought it was the right thing to answer publicly…

“Then we did the second bid because the first was rejected based on price. So we have looked at a way to make the bid more creative – creative in that we would suggest that the current owners would stay for some period and they would enjoy this current wave of good form and then pass on to the new club custodians…

“This things obviously will not be too popular with the current supporters I must say (Sullivan and Gold staying on as life presidents of West Ham).

“But if that’s the way that they would want to do it we are open to that, as long as we take control of the club, that would be the main condition.”

When pressed on the issue of proof of funds and access to money in order to make the deal a reality, Piriyev insisted ‘it can be clearly evidenced’.

“Hope springs eternal, we will always be there,” Piriyev said when asked if PAI’s offer was still on the table.

“I love the club, I supported since I was a little child, we do want to do this project. Our offer is on the table, we will not increase the price again, it’s already inflated by far and we are sure nobody will be able to meet this price expectation.

“We want to buy the club and inject money into the club – £150m of new money.”

To hear the full interview with Piriyev head over to The Athletic’s Football Podcast.

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