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Football finance expert Kieran Maguire has hit out at West Ham majority owner David Sullivan over a £65m deal that’s been making headlines this week.
West Ham chief David Sullivan may have plenty of money but he’s not a happy man at the moment.
Sullivan jumped several places to be named the 150th richest person in the country over the summer.
His net worth is said to be £1.168bn – up £50m on last year. Sullivan’s main sources of wealth are listed property, football and media: Conegate.
Together with the rest of the West Ham board, Sullivan signed off on £155m worth of transfers for new boss Julen Lopetegui and technical director Tim Steidten in the summer.
But the Hammers have struggled under the Spaniard who, it has been claimed, was Sullivan’s pick to succeed David Moyes.
While Lopetegui is struggling to get what he wants out of his expensively assembled team on the pitch, Sullivan is experiencing something similar off it.
Back in December Hammers News reported on the fact Sullivan was looking to raise £75m with a big sale.
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That being his centuries-old Marylebone house which he put on the market for a cool £75m.
The West Ham supremo spent seven years and just under £50m renovating the stunning property having paid £27m for it back in 2015.
It remains unsold, though, and Sullivan is now selling the town house at a loss after slashing its price by £10m to £65m.
Angry Sullivan has hit out in an interview with Bloomberg saying he had to be “realistic” about the current market, while criticising proposed changes to policy for non-doms.
The West Ham chief even made a thinly-veiled threat to follow super-rich friends by moving to Monaco or Dubai.
“Interest rates are high—they’re coming down but not much,” Sullivan said.
“I also think what the government is doing to the non-doms isn’t very nice, and a lot of rich people are leaving the country as a result of what they anticipate in the budget.
“Three or four of my friends already have gone to Monaco or Dubai.”
Now a top football finance expert has taken aim at the billionaire, referencing the situation at the London Stadium.
Kieran Maguire has hit out at West Ham chief Sullivan over the £65m deal that’s making headlines.
The news comes against the backdrop of unrest among Hammers fans this season.
A big issue is casting a shadow over West Ham’s season off the pitch.
Hammers fans have been up in arms over the ticketing situation at their club this season.
West Ham fans launched a petition after season ticket prices rose above the rate of inflation.
Tensions reached boiling point between West Ham fans and the owners after it emerged new concessions were being restricted to bands five and six.
It means children are being charged full adult price for a new season ticket because there are no more concessions seated together.
As a result, games against the likes of Aston Villa – given Category A status this season – have seen prices set at expensive levels, topping out at an eye-watering £105.
West Ham fans have launched black balloons – that they’re calling ‘black bubbles’ – in protest at the owners before games.
The balloons are emblazoned with the words ‘Stop exploiting loyalty’ and ‘Save Our Concessions’.
Liverpool fans even joined forces with West Ham’s for the protest when the two sides met recently.
Maguire, the author of the Price of Football books and co-host of the podcast by the same name, could not resist a dig at Sullivan over that situation amid his house sale issues.
“West Ham United owner David Sullivan cuts London Mansion Price by £10 million to just £65 million,” Maguire said with his tongue firmly in his cheek on the word ‘just’.
“No wonder he’s having to rinse senior and other fans with increased ticket prices. #PrayForDavid.”
The Labour government was largely expected to make changes to a policy that has allowed wealthy foreigners in the UK to not pay local tax on overseas earnings for up to 15 years.
Sky News reported last week how Chancellor Rachel Reeves may water down the crackdown amid concerns the policy will not make as much money as had been expected.
For West Ham fans, though, there is no sign of their ticket prices being watered down yet despite the protests.
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