Daily WHUFC News - 2nd August 2016

West Ham United statement
WHUFC.com

The points raised in this morning's City AM article are irrelevant as the
Club is categorically not for sale and the Joint-Chairmen have made clear
they have no plans to sell the Club.

The Concession Agreement, where they affirm that commitment, is in the
public domain and speaks for itself.

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Commemorative Thames Ironworks Kit unveiled
WHUFC.com

West Ham United's Commemorative 2016/17 Thames Ironworks Kit goes on sale
today ahead of its debut at Sunday's Betway Cup game against Juventus. The
Commemorative Kit echoes the very first to be worn by Thames Ironworks FC –
the Hammers' forerunners – and will mark the official opening of the Club's
new home on Queen Elizabeth Olympic Park.
Featuring a navy blue design with Union Jack detailing, the Kit represents
the Iron Men who founded the Club and is now available to purchase at
officialwesthamstore.com
You can now get fully kitted out for the 2016/17 season, with the full set
of Umbro Home, Away and Commemorative Kits now available online and in
store.
Ahead of a momentous week for the Club, in which they will play their first
games at their new home, make sure you mark the occasion with the new Kit.
Our new Stadium Store has all three Kits and the full range of Umbro
training wear alongside Hammers gifts, souvenirs, leisurewear and more.
Click here for full details of how to get to the new Stadium Store.

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Fletcher - It is one of the best Stadiums I have ever seen
WHUFC.com

Fletcher set to make first appearance at the new Stadium
The talented forward has already scored two goals during pre-season
Fletcher predicts big things for West Ham next season

Ashley Fletcher cannot wait to play his first game at West Ham United's new
home and believes it is one of the best stadiums he has ever seen. Fletcher
is no stranger to playing at a big venue, having come through the ranks at
Old Trafford and has played in a 60,000 arena. The talented forward was
given a behind-the-scenes tour of the Hammers' new home following his move
last month and was taken aback by the size of the new Stadium. Fletcher is
set to make his first appearance in east London when West Ham face NK
Domzale in the UEFA Europa League Third Qualifying Round Second Leg on
Thursday night and will be looking to reverse a 2-1 deficit as they look to
reach the next stage of the competition.
Fletcher said: "The stadium is looking great and I cannot wait to play the
first game here. I am looking forward to seeing it filled with West Ham
fans. "I have obviously seen a lot of pictures of the new Stadium but you
don't appreciate how big it actually is until you come here and I think it
is one of the best stadiums I have ever seen. "Looking at the seats and the
scoreboard it gives a real modern vibe and I cannot wait to play my first
game here. "This really shows the level that West Ham want to be aspiring to
and was one of the main reasons I joined the Club."
Fletcher has wasted no time settling into his new surroundings and
immediately showed his quality when he got on the scoresheet against FC
Slovacko and Karlsruher on the pre-season tour to Austria. He added: "I have
really enjoyed my time at the Club so far and have already made some really
good friends. I feel I am really settling in well. "When I first signed I
trained alongside Gokhan Tore as the rest of the players were finishing
their pre-season tour to America and I spoke to him about his time in
Turkey. "It is nice to have someone else who is new to the set-up but I have
settled in really well. "I can see there is a huge team-spirit here and this
is a family club so I am really enjoying my time here."

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Five Talking Points - Thames Ironworks Commemorative Kit
WHUFC.com

We take a look at the similarities between the West Ham United we know today
and Thames Ironworks FC following the release of the Club's new
Commemorative kit…

Silverware

Thames Ironworks secured silverware in their all-blue kit during their first
season of existence, as they lifted the West Ham Charity Cup in 1895/96.
Barking Woodville were the side who were beaten, however it took three
attempts after two previous draws.

And the Hammers will be looking to emulate their forefathers and win their
own silverware in the commemorative kit this week as they take on Juventus
in Sunday's Betway Cup tie at the new Stadium on Queen Elizabeth Olympic
Park.

The Old Lady have plenty of silverware in the trophy cabinet themselves, and
won the league and cup double in Italy last season.

The Hammers will want to bounce back after last season's disappointment in
the competition, in which they lost 2-1 to German side Werder Bremen at the
Boleyn Ground.

Success

In their blue strip, Thames Ironworks enjoyed major success as a football
club, and West Ham United will hope their upcoming season will see similar
triumphs at their new home.

In the side's first ever season back in 1985/86, as well as winning the
previously mentioned West Ham Charity Cup, the team were victorious in 30 of
their 46 matches that campaign.

After last season's achievements, which saw the Hammers finish seventh in
the Premier League – their best final league placing for 14 years – the Club
and Slaven Bilic's side will be keen to continue their success on the
football pitch.

New multi-sports arena

As West Ham United move into their new London Stadium this season, it almost
mirrors the switch made by Thames Ironworks back in 1897, as they moved into
a new venue themselves – the Memorial Grounds in West Ham.

Of course, wearing their all-blue strip, Thames Ironworks began to play
their football in the Memorial Grounds – a facility that could house more
than 100,000 spectators – that summer.

Like the Hammers' new home, the Memorial Grounds was a multi-sports arena
which played host to many other events. A banked cycle track surrounded the
pitch, and, like the Club's new Stadium, was home to athletics as well.

Tennis courts, cricket pitches and outdoor swimming pools were also on the
Grounds and 119 years later, many of the same activities and sports take
place on the Queen Elizabeth Olympic Park.

Kits

The Thames Ironworks' kit featured the Union Jack badge from 1986/87
onwards, as does the Hammers' new commemorative strip.

Founder of the side Arnold Hills had many passions, with patriotism being
among them. The addition of the flag signalled this, and the red streaks
throughout the strip is also reflected in Umbro's new release.

The kit also features a classic buttoned collar, and the crossed hammers
logo is proudly displayed on the neck of the shirt.

Ambitious owners

Arnold Hills established Thames Ironworks FC back in the 19th century and
the local businessman clearly wanted the best for local people. As a keen
promoter of healthy living and exercise, Hills was keen for his workers to
become involved in communal activities.

The current West Ham owners want and advocate affordable football for all
the Club's supporters and those who have secured tickets for the Club's
Betway Cup fixture against Juventus will be the first to experience that at
the new Stadium on Sunday.

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EXWHUEMPLOYEE COLUMN: EXCLUSIVE TRANSFER UPDATE
BY EXWHUEMPLOYEE ON 31 JULY 2016 AT 10:48PM
TheWestHamWay.co.uk

So it has been a while since I have written one of these so there is quite a
lot to cover.

Forward Situation: There has been a lot of panic around us signing forwards
and yes we have missed out on some of our targets but there is still no need
to panic.

Calleri:

We should have Calleri officially confirmed as our player in the near future
(I know I have said this for a while now). There has been a hold up
finalising the deal because of his Olympic commitments so he hasn't been
able to come over and have a medical done but the club are still confident
he will become a West Ham player soon. The original hold up was that he had
to get an Italian passport so he didn't require a work permit, this has now
been resolved. It will be a loan deal with a given a date to be reviewed
by, to decide whether it will then be turned into a permanent deal. A very
similar situation to that of Lanzini.

Ayew:

We have made serious enquires about the Swansea forward and submitted an
offer which we believe matches their demands. The problem with the deal is
that Swansea are seriously lacking in the forward department themselves and
want to complete a deal before they sell him, a little similar to the
situation that we were in. Their fans are becoming restless as well so they
are trying to manage the situation carefully before openly accepting our
bid. Claims that Swansea know nothing about our interest and intentions are
just not true and you only have to read our Chairman's comments about the
bid submitted for an international forward in the Premier League to work out
that it is him. People have questioned why we will now be able to afford
his wages when we couldn't last year when we could have signed him on a
free. The bottom line is we are happy to pay more now because he has proven
himself in the Premier League. He will not be an out and out forward but
will get games there if needed. The club see him as a similar player/role
to Valencia, can play up top but more likely to be used as an attacking
winger. We hope to conclude the deal in the next week assuming Swansea
start to play ball.

Marquee signing:

I am not sure where this rumour that we were announcing a marquee signing
this evening has came from or that I will say anything different
tonight-someone has misquoted me somewhere. This is the situation; despite
the large fee for Ayew he would not be the marquee forward. It is fair to
say that Bacca has still not turned down the club and his options appear to
be limited elsewhere. He may be "forced" into the move because Milan need
to sell him to buy other players and he doesn't have a great deal of
options. If he then decides still not to join us I can see us making a move
for Benteke of Liverpool. He has still yet to join another club and like
Bacca, he is keeping his options open. David Gold is a big fan. The Bacca
situation is an interesting one but he really is the club's first choice and
until he says an outright no we will keep hoping.

Sakho to Leave:

WBA have always been the front runners for Sakho and appear to have
submitted a bid of around £10m plus clauses which will take the deal up to
around £16m, which really is a decent amount for someone who has caused a
fair share of problems in recent months. The main concern is whether he
will pass his medical or not, the club hope that he will but there are
concerns about his back especially. Berahino has been talked about as being
part of the deal but the club are worried that with his attitude they could
be taking a big risk and prefer Ayew for the role. The other potential
problem with the deal is that Sakho may see himself as "better than WBA" and
like Bacca try and hold out for another club. Liverpool did at one stage
show an interest, plus a number of French and German teams and he may wish
to keep his options open. The handy thing about him handing in a transfer
request is that he has now stopped himself being owed any loyalty payments.

Left Back Signing:

We have a number of targets for the left back role. The main criteria that
the board wish to have is someone who has played in the Premier League and
is experienced. This rules out the Manchester United youngsters who have
been linked and foreign based players with no Premier League experience.
Gibbs on loan was a possibility but it appears Arsenal do not want to
sanction this as they have their own concerns in defence. We have
approached Robertson of Hull but our initial offer was rejected and we do
not want to spend over £10m on the player. We also bid £8m for Norwich's
Brady but were told that Norwich want £12m for him and that this is not what
we would be prepared to pay. Whilst we were there with Norwich we also
enquired about Olsson and were greeted with a more realistic option. He
hasn't been getting in their team because of Brady and therefore his
valuation is a lot lower. This is again someone who we have approached in
the past and were very close to signing him before we signed Cresswell. For
me Robertson is first choice and if that fails Olsson will be an alternative
option.

Randolph New Deal:

The club moved quickly this week after offers were submitted for our second
choice keeper. Randolph was becoming aware that other clubs were interested
so we tied him down to a long term deal and have promised him opportunities
to make the goalkeeper position his own this season. These will come
notably in the cup competitions and if he proves himself again he could
challenge to start in the league. I believe this is healthy for the club.

Third Shirt:

The new shirt is due to release in the next few days (some say tomorrow) and
will be very much based on our first ever kit with modern changes to it. It
looks really nice and is arguably the best one out of the lot.

Payet:

He is excited to be returning to the club's training on Monday and there is
no intention to hand in a transfer request. The club have said they will do
all they can to hold onto him and this is still the case. I do not believe
he can play on Thursday as he wasn't registered for the first leg but he
should play some part in the Juventus game.

The West Ham Way Update:

We will have our first live radio show will air this Wednesday at 7pm. We
have no special guests this week as we intend to chat about a range of
things instead. The show has been top in a number of charts now and we
really our grateful for your support. We have an extra special show planned
for transfer deadline day with more information to follow.

Evan, Baz and George will be launching West Ham Way Tv at Thursday's game so
please come and chat to them. Our August fanzine is being created now so
don't forget to order. We are also looking for more advertisers for the
site so please get in touch. After this I will do a Q and A session on our
forum at 11 to clear up any questions you still have after this.

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30 days to find five players
KUMB.com
Filed: Monday, 1st August 2016
By: bubbles1966

The question is this: want do we want to achieve this year? I think the
realistic objective must remain a top eight finish, minimum, and Europe one
way or another - via a Cup win, or through finishing top six in the Premier
League. Here's last year's baseline, showing West Ham's points handicap and
net spend in the summer transfer window to date:

Premier League positions, 2015/16 season

1. Leicester City: -19 (-£6m)
2. Arsenal: -9 (+£44m)
3. Tottenham: -8 (+£31m)
4. Manchester City: -4 (+£29m)
5. Manchester Utd: -4 (+£68m)
6. Southampton: -1 (-£4m)
7. West Ham Utd: (+£5m)
8. Liverpool: +2 (+£31m)
9. Stoke City: +11 (+£17m)
10. Chelsea: +12 (+£47m)
11. Everton: +15 (+£800k)

I've left last season's bottom half out, although there's always a chance
that a Sunderland or a Palace might have a good season. The change of
manager at Everton should be worth at least ten points to them, too. Last
season's interlopers have spent nothing net, while all the Sky clubs have
been splashing the cash trying to impress their new managers.
Meanwhile names like Victor Wanyama, Georginio Wijnaldum, Joe Allen and
Sadio Mane - who have gone for over £85million between them - have been
routinely dismissed as "rubbish" by Hammers fans posting on the KUMB Forum.

Our Budget

I believe a net spend of £30m-£50m - the TV money and nothing else - will go
a very long way, especially if it's topped up with money from the sale of
players like Enner Valencia, Diafra Sakho and James Tomkins.

The new Premier League season kicks off in twelve days' time and we still
require the following:

* A better centre forward than Sakho to compete with Andy Carroll as the
line leader;
* A better wide striker than Valencia to compete with Michail Antonio;
* A top quality right back
* A back up/challenger to Cresswell at left back
* A replacement fourth centre back, now that Tomkins has gone.

You've got to fancy that the odd loan will fill one or two of those
defensive positions. In fact, I'm surprised we haven't been linked with
Croatian international Ivan Strinic at Napoli yet. So far we've replaced
frees and loans with frees and loans from elsewhere - for Song, Moses,
Emenike and O'Brien, see Nordtveit, Tore, Feghouli and (the impending)
Calleri. The real problem for Slaven Bilic is that the balance is wrong,
largely due to the belief that Antonio is a capable right back. As a result,
we've left ourselves light at the back. I'm guessing that no one expected
James Collins to be playing in the semi finals of Euro 2016 in early July
either!

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Norwich reject West Ham bid for Martin Olsson - Sky sources
By Paul Vinnell
Last Updated: 01/08/16 12:35pm
SSN

Norwich City have rejected a £3m bid from West Ham for defender Martin
Olsson, according to Sky sources. The London club have been one of the more
active Premier League sides in the transfer market this summer and have made
five signings so far. They have also been frustrated in a number of
attempted moves, however, and Norwich's refusal to sell at the price West
Ham are offering is another setback. They were also thwarted in their
attempt to sign Hull and Scotland full-back Andrew Robertson for £7m on
Friday when that bid was dismissed. Olsson joined Norwich three years ago
from Blackburn for a fee in the region of £2.5m after spending six years at
Ewood Park. The 28-year-old - capped 38 times - played every minute of
Sweden's three matches at Euro 2016 as they went out in the group stages.
Olsson made 27 appearances for Norwich last season but could not help them
avoid relegation to the Championship and he has one year left on his current
deal at Carrow Road.

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IS MESSI AND AGUERO'S ARGENTINE PROVIDER ABOUT TO JOIN WEST HAM?

Ladbrokes.co.uk

August 2016 marks a decade since the stunning arrival of Argentine greats
Carlos Tevez and Javier Mascherano at Upton Park. So it seems fitting that
one of today's most exciting stars for La Albiceleste looks likely to join
West Ham United in the coming weeks. His name? Roberto Pereyra.

The 25-year-old spent the last two seasons at Juventus, the first of which
included an impressive six-goal haul and a Champions League final
appearance.

But the most recent campaign saw the former River Plate man struggle for
game-time in Italy, despite taking his number of Argentina caps into double
figures during the campaign.

Still, after five impressive years in Serie A with Udinese and currently I
Bianconeri, there's little doubt about the midfielder's creativity,
work-rate, and physical strength.

And those qualities would make him an especially good fit for West Ham,
whose displays last season combined flair and physicality to impressive
effect.

With Transfermarkt.co.uk estimating the player's value at £13.6m, down over
£800k since last summer, now could be the time for Slaven Bilic to swoop,
especially with a sizeable sum about to be freed up by the sale of Diafra
Sakho to West Brom.

Chances are the Argentine would also settle in well at the Irons' new
Olympic Stadium home, with fellow River Plate teammate Manuel Lanzini
already a regular for the east London outfit.

West Ham begin the Premier League campaign with a trip to Chelsea, where
it's 19/4 the visitors take all three points.

In the longer term, Bilic will be looking to build on the recent
seventh-placed finish with a top-six spot (11/4) or even a place in the top
four at 8/1.

Bringing in the man chosen to provide chances for Sergio Aguero, Lionel
Messi and Gonzalo Higuain at international level would be quite a boost to
their chances, and could see those odds of Premier League progression
tumble.

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Swansea target Fernando Llorente as replacement for West Ham-bound Andre
Ayew
The Telegraph
1 AUGUST 2016 • 3:02PM

Swansea City are trying to agree a wage package with the former Spain
international Fernando Llorente before they permit Andre Ayew to leave for
West Ham in a £20 million deal.
The sticking point with signing the Seville striker are his wages, believed
to be around £5 million annually. The transfer fee is likely to be small,
around £5 million, but would require the club to commit to at least two
years for Llorente, which he has on his current lucrative deal in Seville.
His agent, and brother, Chus Llorente said on Monday that the player was
still committed to staying at Seville, who will play in the Champions League
next season. The 31-year-old is part of another Swansea overhaul of their
striking options with Bafetimbi Gomis having already left on loan to
Marseille. Ayew was signed on a free transfer last summer, although there
were considerable agent fees and terms to be met. He scored 12 goals last
season and the plan was always that he would move on for the right price.
The club have traded players astutely since their Premier League promotion
in 2011, moving on Wilfried Bony, Joe Allen, Jonjo Shelvey and Scott
Sinclair for considerable profits. Francesco Guidolin will have a very
different side next season with captain Ashley Williams also likely to leave
for Everton, who have a strong interest in the centre-back - contracted to
Swansea for another two years. West Ham's offer for Ayew is in response to
the departure of Diafra Sakho to West Bromwich Albion. He is expected to
leave for a fee of around £16 million, a record for West Brom.

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West Ham transfer news: Hammers consider Mario Gomez move as they await a
response from Swansea to £20m Andre Ayew bid
KEN DYER
Evening Standard

West Ham await a response from Swansea to their £20million bid for Andre
Ayew, who is seen as a replacement for Diafra Sakho, a target for West Brom.
A bid of £15m, rising by £5m with add-ons, has been lodged but the Welsh
club want to sign a replacement before they let Ayew go. West Brom have bid
£10m, rising to £16m for Sakho which would be acceptable to West Ham, who
signed the Senegal striker for £4.5m in August 2014. West Ham's search for
a marquee striker signing, meanwhile, goes on. AC Milan's Colombian star
Carlos Bacca is their preferred choice but the player is keen on a move to
Napoli. The door may be closing on that possibility though, as Napoli move
to sign Mauro Icardi from Inter. The German international is at Fiorentina
but the Serie A club are eager to offload him because of his salary — around
£4.5m a year — and are prepared to listen to offers of £7m for the
31-year-old striker.

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West Ham United unveil one-off £90 kit for their friendly against
Juventus... and it's not even their first game at the Olympic Stadium
West Ham play Domzale in Olympic Stadium opener on Thursday
Irons then face Juventus in a home pre-season match on Sunday
The club are releasing a one-off strip for game against Italians
Dark blue Thames Ironworks-inspired kit will cost fans £90
By JOHN DOWNES FOR MAILONLINE
PUBLISHED: 10:31, 1 August 2016 | UPDATED: 10:59, 1 August 2016

West Ham United have unveiled a one-off £90 kit for their friendly against
Juventus... and it's not even their first game at the Olympic Stadium. The
Hammers have collaborated with official kit supplier Umbro, and principal
sponsor Betway, to create a special, limited edition all-dark blue kit to
kick off the club's journey at their new abode. But the price, combined
with the fact that the kit will be retired after the pre-season match - West
Ham's second game at the Olympic Stadium - is sure to rile footballing
purists. Following their 2-1 away defeat to Domzale in their Europa League
third qualifying round first leg tie at Stadion Stozice last Thursday, West
Ham host the Slovenians in the return fixture in Stratford this Thursday.
The club - famed for their claret and blue home strip - will then wear the
one-off kit during their Betway Cup clash against the Old Lady on Sunday.
The unique design is said to be inspired by the all-blue Thames Ironworks
kit worn in the 1890s.

Thames Ironworks, who would later become West Ham United, were founded by
Arnold Hills and the move from the Boleyn Ground to Olympic Stadium is seen
as a continuation of his vision. The east Londoners' sponsors have released
a YouTube video to give their supporters a first glimpse of the new design,
which features a highlights reel including club legends Bobby Moore and
Paolo Di Canio. The video, narrated with the story of Hills, Thames
Ironworks and West Ham's journey, ends with captain Mark Noble unveiling the
shirt alongside striker Andy Carroll and left back Aaron Cresswell.

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West Ham transfer news: Arsenal reject Hammers loan move for Kieran Gibbs
EXCLUSIVE
KEN DYER
Evening Standard

West Ham have had a loan bid for Kieran Gibbs rejected by Arsenal as they
search for an experienced left-back to replace the injured Aaron Cresswell.
The Hammers have also lodged a bid of up to £20million with Swansea for
their striker Andre Ayew as they look to beef up their squad before the new
Premier League season. Cresswell will be out for up to four months after
injuring his knee in a pre-season match in Austria and manager Slaven Bilic
is anxious to bring in a replacement. Gibbs, who lost his place in Arsenal's
first team to Nacho Monreal last season, was a prime target but West Ham's
north London rivals have turned down their first bid.
The Hammers may look elsewhere, with Norwich City's 28-year-old Sweden
international Martin Olsson on their radar. Olsson lost a regular place in
the Norwich team last season to Republic of Ireland international Robbie
Brady, another player who has interested West Ham, and the relegated club
are open to a deal for a player in the final year of his contract.
Two other options are Hull's Scotland international Andrew Robertson, 22,
and 22-year-old Sweden defender Ludwig Augustinsson, who plays for Danish
club FC Copenhagen.

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Revealed: How West Ham owners are free to cash in on Olympic Stadium deal
CITYAM
Frank Dalleres and Oliver Gill

West Ham United's complex deal for the Olympic Stadium, the full details of
which are laid bare for the first time today, could make the football club's
wealthy owners even richer than previously thought – at the expense of the
taxpayer.

As the Hammers prepare to play their first match at the largely
public-funded £700m venue this week, new analysis by City A.M. has revealed
the extent to which billionaire David Sullivan and co-owner David Gold, who
is worth an estimated £350m, are free to cash in on the deal.

Legacy chiefs, who negotiated the contract with West Ham, were sufficiently
concerned that Sullivan and Gold might make a quick fortune by selling up
soon after relocating to the iconic stadium that their lease contains
provision to recoup a percentage of any sale price to the public purse.

But closer examination of the contract, which was the subject of a legal
fight over attempts to suppress it, reveals that provision to be weaker than
first reported – because debts can be offset against any sale. This means
that Sullivan and Gold could bank a profit of around £31m without paying
back a penny.

West Ham say 67-year-old Sullivan and 79-year-old Gold have no plans to
sell, but their resolve could be tested as the club becomes more valuable
than ever – thanks to their gleaming new home in a coveted location – and as
foreign investors increasingly circle England's top clubs.

The east London team's 99-year lease to be the main users of the
60,000-seater stadium for just £2.5m a year – a shade over the average
top-flight player's salary – plus a one-off payment of £15m has been
described as "winning the lottery" by Arsenal manager Arsene Wenger.

It could represent a personal windfall for their owners too, despite a
clause requiring shareholders to repay a percentage to the public purse.
That clause takes effect if the club is sold in a deal valuing it at £125m
or more during the next 10 years.

The threshold would likely be met, with West Ham valued at around £200m last
year. That figure looks conservative now, due to the stadium move and a new
era of stable profitability among Premier League sides boosting their values
across the division.

Crucially, however, West Ham's contract with E20 Stadium LLP, a partnership
between the London Legacy Development Corporation and Newham Council, states
that the club's debt – much of which is owed to the owners – is offset
against the value of any sale.

And with debt of £91m in the most recent accounts, it effectively means the
sale price would need to be far higher to trigger a taxpayer return.

The precise sums fluctuate depending on the club's debt and when any
hypothetical sale takes place, but are indicative of the owners' strong
position. Sullivan and Gold are also entitled to receive interest on their
shareholder loans at a rate of between six and seven per cent, which is
either paid in cash or added to the outstanding debt.

If it took place now, even a £215m sale would fail to earn the taxpayer a
penny, based on the club's most up-to-date available financial information.
Sullivan and Gold, meanwhile, would stand to pocket at least £165m – a
profit of around £31m on their investment – in that scenario.

A sale at a higher price would see some money trickle back to the public
purse, but only a fraction of the take secured by long-time business
associates Sullivan and Gold, who own 86.2 per cent of shares between them.

A £250m sale would bank the pair £193m – a profit of at least £59m. By
contrast, just £2.8m would return to the taxpayer. That is around one per
cent of the £272m cost of converting the Olympic Stadium into a
football-ready, 60,000-seat arena following London 2012.

Were Sullivan and Gold to sell in a £300m deal, they would take £231m,
representing a £97m profit. Less than £9m – £1.5m short of what the Hammers
paid for star player Dimitri Payet last summer – would flow back to the
taxpayer. From a £350m sale, Sullivan and Gold would take £265m – a profit
of £131m – while the public purse would receive £19m.

A spokesperson for West Ham told City A.M.: "This is a moot point because
the chairmen have no intention of selling."

The London Legacy Development Corporation (LLDC) declined to comment.

Sullivan reiterated in December that he and Gold were not looking to sell,
although he conceded that they might be tempted if a wealthy individual made
them a huge offer.

"We have zero desire to sell the club unless the king of Saudi Arabia or the
Sultan of Brunei come along. We're not going to sell to an American or
Chinese consortium," he told Sky Sports.

"We might sell a minority shareholding to clear our debts, but in all
probability our kids will take over from us. We love West Ham; we're not
going anywhere."

Gold has argued that West Ham's use of the stadium, which begins on Thursday
when they play Slovenian side NK Domzale in a Europa League qualifying
match, will prevent it from becoming a white elephant.

Full details of West Ham's contract for the stadium were only published in
April after the LLDC accepted defeat in its legal fight with a football
supporters' coalition to keep some of the details secret.

How it works: West Ham's Olympic Stadium contract

West Ham's 99-year lease for the Olympic Stadium contains a clause
stipulating that a percentage of the proceeds of any sale of the club should
go back to the public purse.

In simplified terms, it means that any sale that values the club at £125m or
more triggers a repayment of somewhere between 7.5 per cent and 30 per cent,
with more punitive rates the higher the price tag and if the deal takes
place before summer 2021. A sale after that would not trigger a repayment.

However, the percentage is applied not to the value of the deal but to an
"adjusted consideration", offset against the club's debt. This means that if
there are substantial debts to pay off first, the sale value would need to
significantly exceed £125m before the repayment clause was activated and the
taxpayer saw any return.

The club's debt, owed in the main to David Sullivan and David Gold, stood at
£91m when accounts were filed in November. Using that figure, if West Ham
were sold today it would take an offer of more than £215m before any
repayment was triggered.

The owners: David Sullivan

The club's largest shareholder, with 51.1 per cent, made his first million
in pornography, co-founded the Sunday Sport with David Gold and now boasts a
£1bn fortune. The son of an RAF serviceman is originally from Cardiff but
moved to London aged 12 and gained a degree in economics from Queen Mary
University. Before buying their boyhood club, he and Gold owned Birmingham
City for 26 years. His investment company Conegate owns prime London
property and his motto, according to a 2009 interview, is: "What's in it for
me?"

The owners: David Gold

East-Ender Gold, who owns 35.1 per cent, has been in business with Sullivan
for 30 years, at Sport Newspapers and Birmingham City before they took
stakes in their beloved West Ham in 2010. He grew up yards from the club's
Upton Park stadium – their home until this summer's move – and played for
their youth team. Like Sullivan, early ventures included an adult magazine
business; now Gold Group International owns the Ann Summers and Knickerbox
chains, run by his daughters Jacqueline and Vanessa, and he is worth an
estimated £350m.

Manchester City and the rising value of English clubs

Inheriting a state-funded venue on the cheap can help to transform a
football club, as Manchester City have found.

They moved into the City of Manchester Stadium in 2003 on a 250-year lease
in exchange for a £20m one-off fee, the keys to their former ground and
annual rent of around £4m.

A shiny new home made City more attractive to investors, and they were sold
to former Thai premier Thaksin Shinawatra four years later. Just 12 months
on he sold to Sheikh Mansour of Abu Dhabi, whose vast wealth has turned the
club into one of the richest in the world.

It's not only their new home that could make West Ham a takeover target.
Soaring revenue from TV contracts has spawned a new era of profitability for
Premier League teams, and that has rekindled the interest of investors.

Manchester City, Crystal Palace, Swansea and Everton have all seen full or
partial buyouts in the last year alone, and analysts predict demand for
English clubs will continue to grow.

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