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{{Short description|History of Owners of the UK football club West Ham United}}
''']''' is a ] club based in London. It was founded in 1900 by ], owner of ]. The club's forerunner, ] ceased to exist in 1900 with West Ham United being formed to take its place. ''']''' is a ] club based in London. It was founded in 1900 by ], owner of ]. The club's forerunner, ] ceased to exist in 1900 with West Ham United being formed to take its place.


==Ownership== ==Ownership==
===Family club=== ===Family club===
Since the ] of West Ham United ] as a ] and then a ], until the sale to an Icelandic consortium in 2006, they were known as a "family owned" club. ], chairman from 1990 until 1992 and a board member until 2006, was the third member of the family to be chairman.<ref name="eco">{{cite web|title=Second Bid For West Ham&nbsp;– 4/09/2006|url=http://www.footballeconomy.com/archive/archive_2006_sep_01.htm|publisher=www.footballeconomy.co.uk|accessdate=29 January 2013}}</ref> His family had been associated with West Ham since its 1900 foundation. J.W.Y (Jimmy) Cearns worked for Thames Ironworks and Shipbuilding Company and was a founding member, and director (1900–1904, 1907–1934) of the club until 1934. His son, ] was chairman from 1935 until 1950.<ref> {{cite news |title=Dog Track Chairman dies |work=Essex Newsman |date=21 February 1950 |accessdate=19 January 2015 |url=http://www.britishnewspaperarchive.co.uk/viewer/bl/0000531/19500221/030/0004| via = ]|subscription=yes}}</ref> W.J. Cearns' son, ], was a director from 1948, vice-chairman from 1950 and chairman from 1979 until 1990.<ref>{{cite book|last=Lyall|first=John|title=Just Like My Dreams|year=1989|publisher=Penguin Books|location=Harmondsworth|isbn=0-14-013193-0|pages=44–45}}</ref><ref>{{cite book|last=Belton|first=Brian|title=Brown Out|year=2008|publisher=Pennant Books|location=London|isbn=978-1-906015-11-4|page=27}}</ref> Since the ] of West Ham United ] as a ] and then a ], until the sale to an Icelandic consortium in 2006, they were known as a "family owned" club. ], chairman from 1990 until 1992 and a board member until 2006, was the third member of the family to be chairman.<ref name="eco">{{cite web|title=Second Bid For West Ham&nbsp;– 4/09/2006|url=http://www.footballeconomy.com/archive/archive_2006_sep_01.htm|publisher=www.footballeconomy.co.uk|accessdate=29 January 2013}}</ref> His family had been associated with West Ham since its 1900 foundation. J.W.Y (Jimmy) Cearns worked for Thames Ironworks and Shipbuilding Company and was a founding member, and director (1900–1904, 1907–1934) of the club until 1934. His son, ] was chairman from 1935 until 1950.<ref> {{cite news |title=Dog Track Chairman dies |work=Essex Newsman |date=21 February 1950 |accessdate=19 January 2015 |url=http://www.britishnewspaperarchive.co.uk/viewer/bl/0000531/19500221/030/0004| via = ] |url-access=subscription}}</ref> W.J. Cearns' son, ], was a director from 1948, vice-chairman from 1950 and chairman from 1979 until 1990.<ref>{{cite book|last=Lyall|first=John|title=Just Like My Dreams|year=1989|publisher=Penguin Books|location=Harmondsworth|isbn=0-14-013193-0|pages=44–45}}</ref><ref>{{cite book|last=Belton|first=Brian|title=Brown Out|year=2008|publisher=Pennant Books|location=London|isbn=978-1-906015-11-4|page=27}}</ref>


Len Cearns elder brother W.F. (Will) Cearns was a director from the death of their father in 1950. Will and Len's younger brother Brian R. Cearns was a director from 1962. Another member of the board which sold the club in 2006, Charles Warner, is the great grandson of club founder, ].<ref name="eco" /> Len Cearns elder brother W.F. (Will) Cearns was a director from the death of their father in 1950. Will and Len's younger brother Brian R. Cearns was a director from 1962. Another member of the board which sold the club in 2006, Charles Warner, is the great grandson of club founder, ].<ref name="eco" />
The majority shareholder under the limited company with 1100 of the 4000 shares issued was Arnold Hills and on his death his descendents . Two unsuccessful attempts by the board were made to buy the shares in 1927 on Hills' death and in 1948 from his family. From 1924 until 1961, 1142 shares remained unsold giving the statutory five man board with only 403 shares between them the ability to consolidated their position dictating who would be sold shares and elected to the board as there was no interference from Hills or his descendents. In 1961 the board members each bought 200 of the unsold shares and 142 were sold to newly elected director R G Brandon at face value.<ref>West Ham United by Charles Korr pages 20,21,22 {{ISBN|0-7156-2126-2}}</ref> ] was a director at from June 1978 until 1989.<ref>Hammers Handbook 1989–90 page 27 whos who at Upton Park</ref> The majority shareholder under the limited company with 1100 of the 4000 shares issued was Arnold Hills and on his death his descendants. Two unsuccessful attempts by the board were made to buy the shares in 1927 on Hills' death and in 1948 from his family. From 1924 until 1961, 1142 shares remained unsold giving the statutory five man board with only 403 shares between them the ability to consolidated their position dictating who would be sold shares and elected to the board as there was no interference from Hills or his descendants. In 1961 the board members each bought 200 of the unsold shares and 142 were sold to newly elected director R G Brandon at face value.<ref>West Ham United by Charles Korr pages 20,21,22 {{ISBN|0-7156-2126-2}}</ref> ] was a director at from June 1978 until 1989.<ref>Hammers Handbook 1989–90 page 27 who's who at Upton Park</ref>


===Terry Brown=== ===Terry Brown===
⚫ ] joined the board in November 1990 and was chairman from May 1992.<ref>Hammers Handbook 1992–93 page60</ref> Brown was criticised by some sections of the fans (including pressure group ] specifically formed for this purpose) due to a perception of financial and staff mismanagement.<ref name="Tabor1">{{cite news | url=https://www.independent.co.uk/sport/tabors-warning-for-west-ham-1286128.html | title=Tabor's warning for West Ham | work=The Independent | date=31 January 1997 | accessdate=16 January 2015}}</ref> In 2006 he made £33.4m after selling the club for £85m to an Icelandic consortium.<ref name="BrownOUT">{{cite news|last=Conn|first=David|title=Brown cashes in on overseas gold rush|url=https://www.theguardian.com/football/2006/nov/22/sport.comment|accessdate=19 January 2013|newspaper=www.guardian.co.uk|date=22 November 2006|location=London}}</ref>

]]] ]]]
⚫ ] joined the board in November 1990 and was chairman from May 1992.<ref>Hammers Handbook 1992–93 page60</ref> Brown was criticised by some sections of the fans (including pressure group ] specifically formed for this purpose) due to a perception of financial and staff mismanagement.<ref name="Tabor1">{{cite news | url=https://www.independent.co.uk/sport/tabors-warning-for-west-ham-1286128.html |archive-url=https://ghostarchive.org/archive/20220524/https://www.independent.co.uk/sport/tabors-warning-for-west-ham-1286128.html |archive-date=2022-05-24 |url-access=subscription |url-status=live | title=Tabor's warning for West Ham | work=The Independent | date=31 January 1997 | accessdate=16 January 2015}}</ref> In 2006 he made £33.4m after selling the club for £85m to an Icelandic consortium.<ref name="BrownOUT">{{cite news|last=Conn|first=David|title=Brown cashes in on overseas gold rush|url=https://www.theguardian.com/football/2006/nov/22/sport.comment|accessdate=19 January 2013|newspaper=The Guardian|date=22 November 2006|location=London}}</ref>
⚫ ] and ]]]


===Icelandic consortium=== ===Icelandic consortium===
Line 18: Line 17:
On 18 September 2007, Magnússon stepped down as ]<ref name="reu">{{Cite news On 18 September 2007, Magnússon stepped down as ]<ref name="reu">{{Cite news
| title = Magnússon steps down as West Ham chairman | title = Magnússon steps down as West Ham chairman
|agency=Reuters |work=Reuters
| date = 18 September 2007 | date = 18 September 2007
| url = http://uk.reuters.com/article/sportsNews/idUKL1883291920070918 | url = http://uk.reuters.com/article/sportsNews/idUKL1883291920070918
| archive-url = https://web.archive.org/web/20081205182752/http://uk.reuters.com/article/sportsNews/idUKL1883291920070918
| url-status = dead
| archive-date = December 5, 2008
| accessdate =9 November 2007}}</ref> but would still retain the role as club ] overseeing a new management structure, and would keep his stake in the club.<ref name="times">{{Cite news | accessdate =9 November 2007}}</ref> but would still retain the role as club ] overseeing a new management structure, and would keep his stake in the club.<ref name="times">{{Cite news
| title = Eggert Magnússon relinquishes West Ham role | title = Eggert Magnússon relinquishes West Ham role
|work=The Times |location=UK | date = 18 September 2007 |work=The Times |location=UK | date = 18 September 2007
| url = http://www.timesonline.co.uk/tol/sport/football/premier_league/west_ham/article2484347.ece | url = http://www.timesonline.co.uk/tol/sport/football/premier_league/west_ham/article2484347.ece
| archive-url = https://web.archive.org/web/20110524053626/http://www.timesonline.co.uk/tol/sport/football/premier_league/west_ham/article2484347.ece
| url-status = dead
| archive-date = May 24, 2011
| accessdate =9 November 2007 | accessdate =9 November 2007
| first1=Philippe | first1=Philippe
Line 31: Line 36:
| last2=Sage}}</ref> | last2=Sage}}</ref>


On 13 December 2007, Magnússon left West Ham and his 5% holding was bought by club majority owner Björgólfur Guðmundsson.<ref name="Eggert victim of Hammers' reshuffle">{{Cite news On 13 December 2007, Magnússon left West Ham and his 5% holding was bought by club majority owner Björgólfur Guðmundsson.<ref name="Eggert victim of Hammers' reshuffle">{{Cite web|url=https://www.theguardian.com/football/2007/dec/13/newsstory.westhamunited|title=Football: Magnusson steps down as West Ham chairman|website=]|date=13 December 2007}}</ref>
| title = Eggert is victim of Hammers' reshuffle as he loses chairman's role at Upton Park
| url = http://www.dailymail.co.uk/pages/live/articles/sport/football.html?in_article_id=501674&in_page_id=1779&ito=newsnow
|work=Daily Mail |location=UK | date = 13 December 2007
| accessdate =13 December 2007
}}</ref>


On 8 June 2009 during the ], Icelandic CB Holding which is 70% owned by ] and 30% owned by Icelandic-based banks Byr and MP<ref>{{cite web|url=http://www.bbc.co.uk/blogs/simonaustin/2009/06/what_west_ham_takeover_means.html|title=What West Ham takeover means|publisher=|accessdate=12 September 2014}}</ref> took over Hansa Holding, which had West Ham United as their only asset and filed for bankruptcy protection. Straumur was one of Hansa Holding's largest creditors. Straumur appointed one of their directors, Andrew Bernhardt, as the new chairman of CB Holding, a company set up to manage the affairs of West Ham United.<ref name="Bernhardt1">{{cite news | url=https://www.theguardian.com/sport/2009/aug/07/west-ham-united-owners-future | title=West Ham's future in fresh doubt | work=The Guardian | date=7 August 2009 | accessdate=16 January 2015}}</ref> On 8 June 2009 during the ], Icelandic CB Holding which is 70% owned by ] and 30% owned by Icelandic-based banks Byr and MP<ref>{{cite web|url=https://www.bbc.co.uk/blogs/simonaustin/2009/06/what_west_ham_takeover_means.html|title=What West Ham takeover means|publisher=|accessdate=12 September 2014}}</ref> took over Hansa Holding, which had West Ham United as their only asset and filed for bankruptcy protection. Straumur was one of Hansa Holding's largest creditors. Straumur appointed one of their directors, Andrew Bernhardt, as the new chairman of CB Holding, a company set up to manage the affairs of West Ham United.<ref name="Bernhardt1">{{cite news | url=https://www.theguardian.com/sport/2009/aug/07/west-ham-united-owners-future | title=West Ham's future in fresh doubt | work=The Guardian | date=7 August 2009 | accessdate=16 January 2015}}</ref>


===David Sullivan and David Gold=== ===David Sullivan and David Gold===
⚫ ] and ]]]
In January 2010, ] and ] acquired a 50% share in West Ham, from CB Holding, given them overall operational and commercial control.<ref name="whud&d">{{cite web|url=http://www.whufc.com/articles/west-ham-united-statement-20100119_2236884_1936937 |title=West Ham United statement &#124; News &#124; Latest News &#124; News &#124; West Ham United |publisher=Whufc.com |accessdate=31 January 2013}}</ref>
At the end of May 2010 David Gold and David Sullivan purchased a further 10% stake in the club at a cost of £8million (£4m to CB Holding, £4m towards club debts). Taking their controlling stake to 60%, they announced that in the near future they may open up shares for fans to purchase.<ref>{{cite web|url=http://www.whufc.com/articles/20100525/chairmen-increase-shareholding_2236884_2058860 |title=Chairmen increase shareholding &#124; News &#124; Latest News &#124; News &#124; West Ham United |publisher=Whufc.com |accessdate=31 January 2013}}</ref> In January 2010, ] and ] acquired a 50% share in West Ham, from CB Holding, giving them overall operational and commercial control.<ref name="whud&d">{{cite web |url=http://www.whufc.com/articles/west-ham-united-statement-20100119_2236884_1936937 |title=West Ham United statement &#124; News &#124; Latest News &#124; News &#124; West Ham United |publisher=Whufc.com |accessdate=31 January 2013 |url-status=dead |archiveurl=https://web.archive.org/web/20100121005012/http://www.whufc.com/articles/west-ham-united-statement-20100119_2236884_1936937 |archivedate=21 January 2010 }}</ref>
On 9 August 2010, Gold and Sullivan increased their shares up to 30.6% each with "minority investors", (which included former owner Terry Brown, purchasing a further 3.8% of the club at a cost of around £3-4million) leaving Straumur Bank owning 35% of the club.<ref name="whufc.com">{{cite web|url=http://www.whufc.com/page/Ownership/0,,12562,00.html |title=Ownership &#124; Ownership &#124; The Club &#124; West Ham United |publisher=Whufc.com |accessdate=14 January 2011}}</ref> At the end of May 2010 Gold and Sullivan purchased a further 10% stake in the club at a cost of £8 million (£4m to CB Holding, £4m towards club debts). Taking their controlling stake to 60%, they announced that in the near future they may open up shares for fans to purchase.<ref>{{cite web |url=http://www.whufc.com/articles/20100525/chairmen-increase-shareholding_2236884_2058860 |title=Chairmen increase shareholding &#124; News &#124; Latest News &#124; News &#124; West Ham United |publisher=Whufc.com |accessdate=31 January 2013 |url-status=dead |archiveurl=https://web.archive.org/web/20100528004215/http://www.whufc.com/articles/20100525/chairmen-increase-shareholding_2236884_2058860 |archivedate=28 May 2010 }}</ref>
On 9 August 2010, Gold and Sullivan increased their shares up to 30.6% each with "minority investors", (which included former owner Terry Brown, purchasing a further 3.8% of the club at a cost of around £3-4million) leaving Straumur Bank owning 35% of the club.<ref name="whufc.com">{{cite web |url=http://www.whufc.com/page/Ownership/0,,12562,00.html |title=Ownership &#124; Ownership &#124; The Club &#124; West Ham United |publisher=Whufc.com |accessdate=14 January 2011 |url-status=dead |archiveurl=https://web.archive.org/web/20090906184447/http://www.whufc.com/page/Ownership/0%2C%2C12562%2C00.html |archivedate=6 September 2009 }}</ref>

⚫ On 2 July 2013, it was announced Sullivan had acquired a further 25% of shares from CB Holdings (owned by the Icelandic bank), after restructuring the debt of the club, leaving Straumur Bank with just 10%.<ref>{{cite web|url=http://www.legalweek.com/legal-week/news/2278698/dla-piper-leads-as-sullivan-becomes-largest-single-west-ham-shareholder |title=Ownership &#124; Ownership &#124; The Club &#124; West Ham United |publisher=legalweek.com |accessdate=2 July 2013}}</ref> In order to clear club debts before a move to the ] in 2016, in December 2014 Sullivan announced the availability for sale of 20% of the club.<ref>{{cite web | url=https://www.bbc.co.uk/sport/0/football/30615420 | title=West Ham: Co-owner David Sullivan says 20% stake for sale | publisher=BBC Sport | date=28 December 2014 | accessdate=16 January 2015}}</ref> The clearing of club debts, given in July 2013 as £70m, is pre-condition to moving to the Olympic Stadium.<ref>{{cite news | url=https://www.theguardian.com/football/2013/jul/24/west-ham-debt-olympic-stadium | title=West Ham United must pay £70m bank debt before Olympic Stadium move | work=The Guardian | date=24 July 2013 | accessdate=16 January 2015}}</ref>


Gold died on 4 January 2023, aged 86.<ref name=gold>{{cite news |title=David Gold: West Ham United co-chairman dies following short illness |url=https://www.bbc.co.uk/sport/football/64163755 |access-date=4 January 2023 |work=BBC Sport |date=4 January 2023}}</ref>
⚫ On 2 July 2013, it was announced ] had acquired a further 25% of shares from CB Holdings (owned by the Icelandic bank), after restructuring the debt of the club, leaving Straumur Bank with just 10%.<ref>{{cite web|url=http://www.legalweek.com/legal-week/news/2278698/dla-piper-leads-as-sullivan-becomes-largest-single-west-ham-shareholder |title=Ownership &#124; Ownership &#124; The Club &#124; West Ham United |publisher=legalweek.com |accessdate=2 July 2013}}</ref> In order to clear club debts before a move to the ] in 2016, in December 2014 David Sullivan announced the availability for sale of 20% of the club.<ref>{{cite web | url=https://www.bbc.co.uk/sport/0/football/30615420 | title=West Ham: Co-owner David Sullivan says 20% stake for sale | publisher=BBC Sport | date=28 December 2014 | accessdate=16 January 2015}}</ref> The clearing of club debts, given in July 2013 as £70m, is pre-condition to moving to the Olympic Stadium.<ref>{{cite news | url=https://www.theguardian.com/football/2013/jul/24/west-ham-debt-olympic-stadium | title=West Ham United must pay £70m bank debt before Olympic Stadium move | work=The Guardian | date=24 July 2013 | accessdate=16 January 2015}}</ref>


===Chairmen=== ===Chairmen===
<ref name="Chairmen">{{cite book|last=Northcutt|first=John|title=The Claret & Blue Book of West Ham United|year=2007|publisher=Pitch Publishing (Brighton) Ltd|location=Hove|isbn=1905411022|page=40}}</ref> <ref name="Chairmen">{{cite book|last=Northcutt|first=John|title=The Claret & Blue Book of West Ham United|year=2007|publisher=Pitch Publishing (Brighton) Ltd|location=Hove|isbn=978-1905411023|page=40}}</ref>
{| class="wikitable" style="text-align: left" {| class="wikitable" style="text-align: left"
|- |-
Line 78: Line 81:
|1950–79 |1950–79
|] |]
|Timber merchant, director 1941–1979. Succeeded father F R Pratt, timber merchant, director 1924–1941.<ref name="Korr" /><br> Oversaw the set-up of the youth teams and training methods which led to ] and the establishment of training facilities at ].<ref>{{cite book|last=Northcutt|first=John|title=West Ham United&nbsp;– A complete Record|year=1993|publisher=Breedon Books|location=Derby|isbn=1-873626-44-4|page=46}}</ref><ref name="malc">{{cite web|title=Malcolm Allison 1927–2010|url=http://www.whufc.com/articles/20101015/malcolm-allison-1927-2010_2236884_2185790|publisher=www.whufc.com|accessdate=19 January 2013}}</ref><ref name="Pratt">{{cite web|title=Year by Year|url=http://www.whufc.com/articles/20030606/year-by-year_2236884_1135022|publisher=www.whufc.com|accessdate=19 January 2013}}</ref><br> In May 1959 negotiated the purchase of the freehold of the Boleyn Ground from the ] for £30,000.<ref>Days of Iron by Brian Belton p 161 {{ISBN|1-85983-153-2}}</ref> |Timber merchant, director 1941–1979. Succeeded father F R Pratt, timber merchant, director 1924–1941.<ref name="Korr" /><br> Oversaw the set-up of the youth teams and training methods which led to ] and the establishment of training facilities at ].<ref>{{cite book|last=Northcutt|first=John|title=West Ham United&nbsp;– A complete Record|year=1993|publisher=Breedon Books|location=Derby|isbn=1-873626-44-4|page=46}}</ref><ref name="malc">{{cite web|title=Malcolm Allison 1927–2010|url=http://www.whufc.com/articles/20101015/malcolm-allison-1927-2010_2236884_2185790|publisher=www.whufc.com|accessdate=19 January 2013|url-status=dead|archiveurl=https://web.archive.org/web/20101025141806/http://www.whufc.com/articles/20101015/malcolm-allison-1927-2010_2236884_2185790|archivedate=25 October 2010}}</ref><ref name="Pratt">{{cite web|title=Year by Year|url=http://www.whufc.com/articles/20030606/year-by-year_2236884_1135022|publisher=www.whufc.com|accessdate=19 January 2013}}</ref><br> In May 1959 negotiated the purchase of the freehold of the Boleyn Ground from the ] for £30,000.<ref>Days of Iron by Brian Belton p 161 {{ISBN|1-85983-153-2}}</ref>
|- |-
|1979–90 |1979–90
Line 86: Line 89:
|1990–92 |1990–92
|] |]
|A bank manager with ] when he "inherited" the role from his father.<ref>{{cite book|last=Belton|first=Brian|title=Brown Out|year=2008|publisher=Pennant Books|location=London|isbn=978-1-906015-11-4|page=37}}</ref><br /> Advocate of the ]<ref name="Protest1">{{cite news|last=Pierson|first=Mark|title=Football: West Ham fear FA censure over pitch invasion|url=https://www.independent.co.uk/sport/football-west-ham-fear-fa-censure-over-pitch-invasion-1285373.html|publisher=Independent|accessdate=29 June 2011|location=London|date=27 January 1997}}</ref><ref name="Martin Cearns">{{cite web|title=League Honour Martin Cearns|url=http://www.whufc.com/articles/20060117/league-honour-martin-cearns_2236884_114070|publisher=www.whufc.com|accessdate=19 January 2013}}</ref><br> |A bank manager with ] when he "inherited" the role from his father.<ref>{{cite book|last=Belton|first=Brian|title=Brown Out|year=2008|publisher=Pennant Books|location=London|isbn=978-1-906015-11-4|page=37}}</ref><br /> Advocate of the ]<ref name="Protest1">{{cite news|last=Pierson|first=Mark|title=Football: West Ham fear FA censure over pitch invasion|url=https://www.independent.co.uk/sport/football-west-ham-fear-fa-censure-over-pitch-invasion-1285373.html |archive-url=https://ghostarchive.org/archive/20220524/https://www.independent.co.uk/sport/football-west-ham-fear-fa-censure-over-pitch-invasion-1285373.html |archive-date=2022-05-24 |url-access=subscription |url-status=live|publisher=Independent|accessdate=29 June 2011|location=London|date=27 January 1997}}</ref><ref name="Martin Cearns">{{cite web|title=League Honour Martin Cearns|url=http://www.whufc.com/articles/20060117/league-honour-martin-cearns_2236884_114070|publisher=www.whufc.com|accessdate=19 January 2013}}</ref><br>
He became vice-chairman on Terry Brown becoming chairman in May 1992 He became vice-chairman on Terry Brown becoming chairman in May 1992
|- |-
Line 104: Line 107:
|Andrew Bernhardt Non-executive chairman&nbsp;– ] |Andrew Bernhardt Non-executive chairman&nbsp;– ]
| |
West Ham were taken over by asset management company CB Holding following Guðmundsson's bankruptcy<br /> caused by the ].<ref name="Bernhardt">{{cite web|title=West Ham United statement|url=http://www.whufc.com/articles/20090608/west-ham-united-statement_2236884_1688162|publisher=www.whufc.com|accessdate=26 January 2013}}</ref><ref>{{cite web|url=http://news.bbc.co.uk/sport1/hi/football/teams/w/west_ham_utd/8088876.stm|title=West Ham takeover deal completed|publisher=|accessdate=12 September 2014}}</ref><ref>{{cite news|last=Mason|first=Rowena|title=Icelandic bank chief in £500m of hot water|url=http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5956509/Icelandic-bank-chief-in-500m-of-hot-water.html|newspaper=Telegraph|date=1 August 2009|location=London}}</ref> West Ham were taken over by asset management company CB Holding following Guðmundsson's bankruptcy<br /> caused by the ].<ref name="Bernhardt">{{cite web|title=West Ham United statement|url=http://www.whufc.com/articles/20090608/west-ham-united-statement_2236884_1688162|publisher=www.whufc.com|accessdate=26 January 2013}}</ref><ref>{{cite news|url=http://news.bbc.co.uk/sport1/hi/football/teams/w/west_ham_utd/8088876.stm|title=West Ham takeover deal completed|date=8 June 2009|publisher=|accessdate=12 September 2014}}</ref><ref>{{cite news|last=Mason|first=Rowena|title=Icelandic bank chief in £500m of hot water|url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5956509/Icelandic-bank-chief-in-500m-of-hot-water.html|newspaper=Telegraph|date=1 August 2009|location=London}}</ref>


|- |-
|2010– |2010–
|] and ]&nbsp;– joint |] and ]&nbsp;– joint
|With the club valued at £105m, Sullivan and Gold buy 50%. They inherited £120m of debt from the previous owners.<ref name="120m debt">{{cite news|last=Lawton|first=Matt|title=Sullivan: We're paying Carroll's wages out of our own pockets&nbsp;... We want the best team because we are West Ham fans|url=http://www.dailymail.co.uk/sport/football/article-2206369/David-Sullivan-Were-paying-Andy-Carrolls-wages-West-Ham-fans.html#axzz2JwrDVs1z|accessdate=4 February 2013|newspaper=www.dailymail.co.uk|date=20 September 2012|location=London}}</ref><ref name="sully&gold">{{cite news|title=David Sullivan and David Gold seal West Ham takeover|url=http://news.bbc.co.uk/sport1/hi/football/teams/w/west_ham_utd/8464631.stm|publisher=BBC Sport|accessdate=19 January 2013|date=19 January 2010}}</ref> |With the club valued at £105m, Sullivan and Gold buy 50%. They inherited £120m of debt from the previous owners.<ref name="sully&gold">{{cite news|title=David Sullivan and David Gold seal West Ham takeover|url=http://news.bbc.co.uk/sport1/hi/football/teams/w/west_ham_utd/8464631.stm|publisher=BBC Sport|accessdate=19 January 2013|date=19 January 2010}}</ref> Gold died on 4 January 2023, aged 86.<ref name=gold/>
|} |}


Latest revision as of 02:12, 27 September 2024

History of Owners of the UK football club West Ham United

West Ham United F.C. is a football club based in London. It was founded in 1900 by Arnold Hills, owner of Thames Ironworks and Shipbuilding Company. The club's forerunner, Thames Ironworks F.C. ceased to exist in 1900 with West Ham United being formed to take its place.

Ownership

Family club

Since the founding of West Ham United in 1900 as a Limited company and then a Public limited company, until the sale to an Icelandic consortium in 2006, they were known as a "family owned" club. Martin Cearns, chairman from 1990 until 1992 and a board member until 2006, was the third member of the family to be chairman. His family had been associated with West Ham since its 1900 foundation. J.W.Y (Jimmy) Cearns worked for Thames Ironworks and Shipbuilding Company and was a founding member, and director (1900–1904, 1907–1934) of the club until 1934. His son, W.J. Cearns was chairman from 1935 until 1950. W.J. Cearns' son, L.C. (Len) Cearns, was a director from 1948, vice-chairman from 1950 and chairman from 1979 until 1990.

Len Cearns elder brother W.F. (Will) Cearns was a director from the death of their father in 1950. Will and Len's younger brother Brian R. Cearns was a director from 1962. Another member of the board which sold the club in 2006, Charles Warner, is the great grandson of club founder, Arnold Hills. The majority shareholder under the limited company with 1100 of the 4000 shares issued was Arnold Hills and on his death his descendants. Two unsuccessful attempts by the board were made to buy the shares in 1927 on Hills' death and in 1948 from his family. From 1924 until 1961, 1142 shares remained unsold giving the statutory five man board with only 403 shares between them the ability to consolidated their position dictating who would be sold shares and elected to the board as there was no interference from Hills or his descendants. In 1961 the board members each bought 200 of the unsold shares and 142 were sold to newly elected director R G Brandon at face value. Jack Petchey was a director at from June 1978 until 1989.

Terry Brown

Honorary Life President, investor and former owner and chairman, Terry Brown

Terry Brown joined the board in November 1990 and was chairman from May 1992. Brown was criticised by some sections of the fans (including pressure group Whistle specifically formed for this purpose) due to a perception of financial and staff mismanagement. In 2006 he made £33.4m after selling the club for £85m to an Icelandic consortium.

Icelandic consortium

In 2006 Eggert Magnússon and Björgólfur Guðmundsson bought the club. On 18 September 2007, Magnússon stepped down as executive chairman but would still retain the role as club non-executive chairman overseeing a new management structure, and would keep his stake in the club.

On 13 December 2007, Magnússon left West Ham and his 5% holding was bought by club majority owner Björgólfur Guðmundsson.

On 8 June 2009 during the 2008–2012 Icelandic financial crisis, Icelandic CB Holding which is 70% owned by Straumur-Burdaras bank and 30% owned by Icelandic-based banks Byr and MP took over Hansa Holding, which had West Ham United as their only asset and filed for bankruptcy protection. Straumur was one of Hansa Holding's largest creditors. Straumur appointed one of their directors, Andrew Bernhardt, as the new chairman of CB Holding, a company set up to manage the affairs of West Ham United.

David Sullivan and David Gold

West Ham United co-owners, David Sullivan and David Gold

In January 2010, David Sullivan and David Gold acquired a 50% share in West Ham, from CB Holding, giving them overall operational and commercial control. At the end of May 2010 Gold and Sullivan purchased a further 10% stake in the club at a cost of £8 million (£4m to CB Holding, £4m towards club debts). Taking their controlling stake to 60%, they announced that in the near future they may open up shares for fans to purchase. On 9 August 2010, Gold and Sullivan increased their shares up to 30.6% each with "minority investors", (which included former owner Terry Brown, purchasing a further 3.8% of the club at a cost of around £3-4million) leaving Straumur Bank owning 35% of the club.

On 2 July 2013, it was announced Sullivan had acquired a further 25% of shares from CB Holdings (owned by the Icelandic bank), after restructuring the debt of the club, leaving Straumur Bank with just 10%. In order to clear club debts before a move to the Olympic Stadium in 2016, in December 2014 Sullivan announced the availability for sale of 20% of the club. The clearing of club debts, given in July 2013 as £70m, is pre-condition to moving to the Olympic Stadium.

Gold died on 4 January 2023, aged 86.

Chairmen

Years Chairman Notes
1900–03 Lazzeluer Johnson Clerk, director 1900–1932. Subscriber to the Articles of Incorporation 5 July 1900.
First chairman, taking over from Arnold Hills chairman of West Ham's predecessor, Thames Ironworks
1903–04 Edwin Smith Timber converter, director 1900–1903. Subscriber to the Articles of Incorporation 5 July 1900.
1904–09 Joseph Grisdale Coppersmith, director 1904–1909.
1909–35 William F White Barge builder, director 1905–1935.
1935–50 William J Cearns Contractor, director 1924–1950.
Self-made millionaire from the construction industry. His eldest son, also William, served as a director from 1950 on the death of his father and vice-chairman from June 1979 until 1991
1950–79 Reg Pratt Timber merchant, director 1941–1979. Succeeded father F R Pratt, timber merchant, director 1924–1941.
Oversaw the set-up of the youth teams and training methods which led to The Academy of Football and the establishment of training facilities at Chadwell Heath.
In May 1959 negotiated the purchase of the freehold of the Boleyn Ground from the Roman Catholic Archdiocese of Westminster for £30,000.
1979–90 Len Cearns Contractor, director 1948–1993
Son of William J Cearns he was vice-chairman from 1950 and his contracting company responsible for building the East stand in 1969, and relinquished his chairmanship to his son Martin in February 1990.
1990–92 Martin Cearns A bank manager with Barclays Bank when he "inherited" the role from his father.
Advocate of the Hammers Bond scheme

He became vice-chairman on Terry Brown becoming chairman in May 1992

1992–2006 Terry Brown Became a director in November 1990 and chairman in May 1992.
2006–07 Eggert Magnússon
2007–09 Björgólfur Guðmundsson
2009–10 Andrew Bernhardt Non-executive chairman – CB Holding

West Ham were taken over by asset management company CB Holding following Guðmundsson's bankruptcy
caused by the 2008–2012 Icelandic financial crisis.

2010– David Sullivan and David Gold – joint With the club valued at £105m, Sullivan and Gold buy 50%. They inherited £120m of debt from the previous owners. Gold died on 4 January 2023, aged 86.

References

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