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Report: Gold and Sullivan’s latest decision will please West Ham United fans

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West Ham United owners David Gold and David Sullivan will be looking to inject at least £30m back into the club, according to reports.

The Premier League is currently postponed due to the ongoing coronavirus pandemic which is yet to peak in the UK, according to medical experts, which makes it less likely that we will see football returning to the London Stadium anytime soon.

This has led to the club taking several financial measures as a result of the £60m-£80m cash flow hole which will be left due to the lack of football.

Manager David Moyes has agreed to take a pay cut, as well as a number of senior management. Even though the non-playing staff have been told not to come into work, the club will in full.

According to the Guardian, the board have decided to go down a different route to make ends meet. They have agreed to a rights issue, which is an invitation to existing shareholders to buy additional shares. Sullivan owns 51% of the club which makes him the majority shareholder and has agreed to this, in the region of £30m.

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This offer spans to everyone in the board room and all shareholders in the club. Whether that figure will rise above £30m is another matter, depending on how many accept and decide to invest.

The report adds that the process will begin in May, although this may be pushed forward depending on the situation of the Premier League and whether the club gets into any form of financial trouble at a later date.

Even though our owners get a lot of stick, this is a sensible move from a business perspective on the basis that we will suffer serious losses due to the virus and the lack of football. For once, it shows that they care about the club.

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