Cash-strapped West Ham have suffered yet another bitter blow off the pitch after a billionaire linked with the Gold family stake entered fast-moving talks to buy into Crystal Palace.
The massive £176 million investment marks a worrying new low for the Hammers, who are rapidly falling behind their Premier League rivals financially despite being among the highest-earning clubs in Europe in terms of revenue over the last five years.
It has become increasingly clear West Ham may need new owners if they are to get back to competing in the top half of the table.
While Crystal Palace are a fantastic club with great fans, Hammers supporters did not reluctantly leave Upton Park for the London Stadium to see the likes of the Eagles overtaking them within 10 years.
Cash-strapped West Ham linked with US investment
That is what is unfolding, though.
Fresh from securing Europa League football after winning the FA Cup, Palace have now dealt a major blow to West Ham which could have serious ramifications for the club’s future.
West Ham continue to insist they cannot sign players due to being at the limit in terms of PSR.
Supporters have been growing increasingly frustrated at the club’s hierarchy saying the well is dry.
Many fans have called for main stakeholders David Sullivan and Daniel Kretinsky to sell West Ham to more ambitious owners.
That’s why links to investment – and potential takeover – from a US consortium have excited supporters.
New York Jets co-owner Woody Johnson has also been linked with a stunning West Ham buy-in with the Gold family’s 25 per cent stake now out of probate following the death of former co-owner David Gold in 2023.
It was claimed banking insiders believe Johnson, a member of the founding family of Johnson and Johnson, could buy West Ham.
Another billionaire linked with West Ham, Turki Alalshikh – who has become the face of boxing – is instead eyeing bitter rivals Millwall or Southampton.
Now Crystal Palace have won the race for a billionaire’s £176m investment in a new low for West Ham.
Johnson wants to buy John Textor’s stake in Palace, according to BBC Sport sources.
Johnson, 78, visited Selhurst Park last season as a guest of Steve Parish.
BBC say Palace and Johnson have remained tight-lipped over the deal.
But the likes of Sky Sports are reporting it is a fast-developing situation with Crystal Palace looking to convince UEFA to let them play in the Europa League due to strict multi-club ownership rules and Textor’s involvement in the Eagles and Lyon.
Textor’s stake is said to be worth £176m.
Why aren’t West Ham attracting big investment
Ironically a couple of months ago Kretinsky was reportedly fed up at West Ham and was considering selling up his 27 per cent holding in order to buy in to Palace.
The situation has Hammers fans scratching their heads as to why rich investors are not queueing up to take over the club.
West Ham have the London factor, a 62,500 stadium they pay just £4m a season for – which an investor could probably buy outright if they so desired – and a loyal and passionate fanbase who demand little more than to be given some hope.
