West Ham United insider ExWHUemployee has responded to reports breaking overnight that the club has been the subject of a £400 million takeover bid.
The Hammers have been linked with a string of takeovers in the last 18 few years all to no avail.
The Athletic reported back in February that American billionaire Joseph DaGrosa was considering launching a takeover bid for West Ham.
It was the latest in a long line of takeover rumours to emerge, particularly over the last year.
Report claims West Ham are subject of new £400m takeover bid from UK investors
West Ham fans have previously protested for co-owners David Sullivan and David Gold and their vice-chairman Karren Brady to leave.
The trio were acronymed GSB as part of the GSBOUT campaign.
Most of the animosity stems from the club’s move from West Ham’s beloved Upton Park to the London Stadium and broken promises relating to it as well as frustrations over a perceived lack of ambition in the transfer market.
Last night fresh takeover talk emerged when The Daily Mail reported that a group of UK investors had seen a £400m bid for the club rejected by majority stakeholder Sullivan.
Group are ‘deadly serious’ and proposals would reportedly boost Moyes’s transfer budget while also improving the London Stadium
The report claims the proposal would give David Moyes a significant transfer budget.
And the group, which includes former QPR CEO Philip Beard, are also said to want to transform the much-criticised London Stadium and surrounding area.
“Beard worked closely on the London 2012 bid and spent three years as chief executive of The O2,” The Mail reports.
“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.”
What has been described as an ‘opening offer’ has been snubbed by West Ham.
But The Daily Mail claims the group are ‘deadly serious’ and have not been put off by the knockback.
When West Ham fans want answers many turn to insider ExWHUemployee.
And now he has responded to the reports, saying proof of funds have not been presented for a formal offer.
That’s despite Sullivan making it clear he would welcome new investment.
“Yes it was (the bid I had mentioned previously), the bid however was never completely formalised and so wasn’t officially there to turn down,” ExWHUemployee said on Twitter.
‘Proof of funds needed to make bid formal’ says insider ExWHUemployee
“I think the club are still waiting for evidence of funds etc.
“I asked (fellow West Ham Twitter personality) @redhammer8 to be a witness to the fact I had heard this and gave him some details in dm (private message).
“I will try and get more information tomorrow/Thursday on it as I’ve left it for a while. The offer still needs to be formally submitted before it can be rejected/negotiated etc.
“If it was formally submitted with proof of funds they would consider bids as DS (Sullivan) has made it clear he would welcome investors.
“The talk from their end was that they would make a serious offer but at this point they haven’t. There has been no formal bid. So they will have to prove their credibility soon. They have had five months to do so and haven’t yet but I guess time will tell.”