Staveley planning ‘big property play’ as she closes in on West Ham stake
Amanda Staveley says she is planning a “big property play” in English football as the former Newcastle United closes in on a deal to buy a stake in West Ham United.
Staveley, her husband Mehrdad Ghodoussi, and others have agreed to buy a 25.1 per cent stake in the Hammers, who were relegated to the Championship last season, owned by former West Ham co-owner David Gold’s daughter Vanessa.
Some reports state the £150m investment could value the second-tier club at £600m, and Staveley has hinted that the deal could see changes to the London Stadium, which the club rents through a favourable deal struck by former Irons chief Baroness Karren Brady with a subsidiary of the Greater London Authority.
“Whatever club we take, there’ll be a big property play as well,” Staveley said in an episode of Bloomberg’s Leaders with Francine Lacqua recorded before West Ham confirmed her agreement with Gold on Saturday. “We won’t just do a football-led.
“I just want a challenge, and that’s what excites me. That’s where you get value uplift — when you take something from seedling and allow it to grow.”
The 53-year-old was involved with the sale of Manchester City to Sheikh Mansour bin Zayed Al Nahyan in 2008, and helped Saudi Arabia’s Public Investment Fund buy Newcastle United for £305m in 2021 in a deal that saw her acquire six per cent of the club.
West Ham would see Staveley’s reentry into English football following her Newcastle stake sell-off and after rumours of interest in Tottenham Hotspur fell away.
West Ham ownership status
Royal Mail proprietor Daniel Kretinsky could still beat Staveley to the Gold stake. He appeared to have agreed a deal earlier this year that would see him become the club’s biggest shareholder and has pre-emption rights.
David Sullivan, who stepped down as co-chairman in June, remains the biggest shareholder but faces an uncertain future at the club following allegations, which he denies, about his historical conduct.
What Staveley’s consortium could do with the London Stadium – which costs the UK taxpayer £19m per year – remains unknown given the structure of its ownership, but there have been disagreements between the club and City Hall over the availability of the stadium for a potential Athletics World Championships in 2029.
In a statement, Vanessa Gold said: “I have now reached an agreement to sell my family’s shareholding to a consortium of PCP Capital Partners, led by Amanda Staveley and Mehrdad Ghodoussi, in partnership with Ashland Forest Capital Partners.
“While the process has not yet concluded, I wanted to be open with our fans about where things stand and my intentions.”