West Ham: Co-owner David Sullivan says 20% stake for sale

West Ham co-owners David Sullivan (left) and David Gold
Half of West Ham's £110m debt is owed to co-owners David Sullivan and David Gold

West Ham co-owners David Sullivan and David Gold want to sell 20% of the club to raise £80m in order to pay off some of the Premier League outfit's debts.

The Upton Park club's debts currently stand at £110m, of which £55m is owed to Gold and Sullivan.

"I'd love someone to come in and buy 20%, and the money would not go to us, it would go to the club," Sullivan told the Sunday Telegraph.external-link

"But we won't be giving it away and we'd want market value for it."

West Ham will be anchor tenants for the Olympic Stadium from August 2016.

He added: "Going to the Olympic Stadium, we are a £400m club and that would pay down most of the debt.

"But if it doesn't happen we'll dig deep in our pockets and keep the club afloat."

West Ham were fifth in the Premier League going into Sunday's latest round of games after an impressive start to the campaign, but manager Sam Allardyce's contract expires at the end of the season.

Sullivan said: "I must say if come April we are where we are now, which is extremely unlikely but is possible, we'd probably sit down a month early and say: 'Look Sam, do you want to stay or do you want to go?'

"Sam may decide he wants to go out a winner."