Kia Joorabchian, Director of MSI who owns Corinthians, last night issued a statement to the UK Stock Exchange confirming his Media Sports Investments consortium is interested in taking control of West Ham Utd.
New promoted West Ham attracted Joorabchian as it is a London based, Premier league side with a large fan base. The Upton Park stadium is regularly sold out at 35,000 capacity.
The statement to the stock exchange read: “Kia Joorabchian and his MSI consortium confirm they are considering making an offer for West Ham.”
“However, matters are at a very early stage and there can be no certainty that a firm offer will be forthcoming or the terms upon which any such offer would be made.”
The proposed takeover is set to wipe out the Hammers’ £30m debt, enable him to buy out chairman Terence Brown’s board for £50m whilst injecting another £100m into the Upton Park coffers.
It remains to be seen what this purchase would mean for Corinthians. Is this end of their purchasing big name players, as the funds will be diverted to West Ham? Or will Corinthians be used as a potential feeder club to West Ham draining the club of its vast talent?
