By Andrew White
Co-chairman David Sullivan confirmed in UAE for investment talks.
The co-chairman of English Premier League club West Ham has confirmed he is in Dubai to hold talks with potential Middle East investors, over a deal to secure the long-term future of the club.
According to ESPNsoccernet, co-chairman David Sullivan is in the UAE with vice-chairman Karren Brady.
The relegation-threatened club narrowly avoided administration when Sullivan, along with David Gold, secured a 50 per cent stake in the club for $79m in January.
“I am in Dubai with Karren but I cannot comment further as our talks our strictly confidential,” Sullivan told ESPNsoccernet.
“However, it is clear to everyone that West Ham needs an injection of cash as when we took over in January it was $167m in debt and we have been working non-stop and have cut it down to just over $136m.”
According to ESPNsoccernet, Sullivan and Brady hope to negotiate a deal for Icelandic group Straumur's remaining 50% shareholding at West Ham. The two co-chairman, however, do have the option over the next four years to acquire the remaining stake.