West Ham takeover bid: PAI Capital’s motives questioned after public statement
Journalist Paul Brun questioned the motives for PAI Capital’s public announcement of the failure of its takeover bid for West Ham.
What’s the latest news from West Ham?
PAI Capital announced in August that it had reached a agreement in principle on a new London stadium lease that would give them more control over the direction of the controversial West Ham pitch.
However, this was contingent on the successful buyout of the East London club by the company, and it has since been confirmed that no deal will take place in the immediate future.
In a statement last week, PAI Capital revealed that an offer to buy West Ham was rejected by David Sullivan, on the grounds that this might not be a good time to sell with the Irons doing so well in the field.
David Moyes led the Hammers to sixth place last season, when they are currently just two points off the top four and have won back-to-back Europa League matches.
What did Paul Brown say about the failed takeover bid for PAI Capital?
Speaking to GIVEMESPORT, reporter Brown suggested there may be an ulterior motive behind PAI Capital’s statement.
He said successful takeovers tend to be calm, as PAI Capital has been surprisingly loud and public about its attempts to take control of east London.
He told GMS: “I’d be a little suspicious when someone yells so loud in public that they want a club. You wonder about the motives there. That just doesn’t seem like the way to make a deal.
“If you put together a complicated take-over bid, you’re just not going to shout it in the press. It doesn’t really work, it’s not a good tactic and these people know it, so there must be another reason they did it. “
Will PAI Capital come back with another offer?
In their most recent statement PAI Capital has suggested they have no plans to come back with another offer anytime soon, but insisted they’re open to talks if Sullivan decides he’s ready to sell.
Nonetheless, with Brown unsure of the reasons for their statement, it remains to be seen how much PAI Capital is actually interested in buying West Ham.
There are also legitimate questions to be asked as to why they’ve tried to force a takeover now, as the Irons are indeed enjoying a rich period on the pitch.
And despite PAI Capital’s interpretation of their discussions with Sullivan, it has already been reported that the current owners of West Ham would never sell to a consortium they simply see as “real estate agents‘.