West Ham United owner Sullivan rejects £400 million takeover bid

West Ham United owner David Sullivan has rejected a bid for the takeover of the club worth £400 million. The offer was presented by a UK based group, headed by former Queens Park Rangers chief executive Philip Beard. 

Despite having their initial offer rejected, the group remains motivated to convince Sullivan to hand the stakes of the club over. They are currently planning their next steps in order to make yet another bid for the club. 

Among the proposals made by Beard for his vision of the club include the development of the club stadium. The Hammers currently play their home games at the London Stadium, and it could undergo a significant upscaling if the takeover goes through. Moreover, the surrounding areas will also undergo an upgrade if the deal goes through. 

Beard previously worked for the Greenwich Park development project, and also helped with the London Olympics bid. Hence, fans can be assured that they will have experienced hands taking over the club, if Sullivan can be persuaded. 

The new investors are keen to complete the takeover as soon as possible, and build on the success of the previous season. The potential management is willing to hand David Moyes a big transfer budget to help him make West Ham a regular European team, following their entry into the Europa League last season. 

However, while the notion of the future can seem exciting, it will be difficult to convince Sullivan to sell. He previously rejected a £650 million bid for a takeover, and a £400 million offer from America was also turned down last year.