Ownership of West Ham United F.C.
   HOME

TheInfoList



OR:

West Ham United F.C. West Ham United Football Club is an English professional football club that plays its home matches in Stratford, East London. The club competes in the Premier League, the top tier of English football. The club plays at the London Stadium, h ...
is a
football Football is a family of team sports that involve, to varying degrees, kicking a ball to score a goal. Unqualified, the word ''football'' normally means the form of football that is the most popular where the word is used. Sports commonly c ...
club based in London. It was founded in 1900 by
Arnold Hills Arnold Frank Hills (12 March 1857 – 7 March 1927) was an English businessman, sportsman, philanthropist, and promoter of vegetarianism. Biography Hills was born in Denmark Hill, Surrey, son of a manufacturing chemist. Arnold Hills was also a ...
, owner of
Thames Ironworks and Shipbuilding Company The Thames Ironworks and Shipbuilding Company, Limited was a shipyard and iron works straddling the mouth of Bow Creek at its confluence with the River Thames, at Leamouth Wharf (often referred to as Blackwall) on the west side and at Cannin ...
. The club's forerunner,
Thames Ironworks F.C. Thames Ironworks Football Club, the club that later became West Ham United F.C., West Ham United, was founded by Thames Ironworks and Shipbuilding Co. Ltd owner Arnold Hills and foreman Dave Taylor (Thames Ironworks F.C. founder), Dave Taylor in ...
ceased to exist in 1900 with West Ham United being formed to take its place.


Ownership


Family club

Since the
founding Founding may refer to: * The formation of a corporation, government, or other organization * The laying of a building's Foundation * The casting of materials in a mold See also * Foundation (disambiguation) * Incorporation (disambiguation) In ...
of West Ham United in 1900 as a
Limited company In a limited company, the liability of members or subscribers of the company is limited to what they have invested or guaranteed to the company. Limited companies may be limited by Share (finance), shares or by guarantee. In a company limited by ...
and then a
Public limited company A public limited company (legally abbreviated to PLC or plc) is a type of public company under United Kingdom company law, some Commonwealth of Nations, Commonwealth jurisdictions, and the Republic of Ireland. It is a limited liability 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 Arnold Frank Hills (12 March 1857 – 7 March 1927) was an English businessman, sportsman, philanthropist, and promoter of vegetarianism. Biography Hills was born in Denmark Hill, Surrey, son of a manufacturing chemist. Arnold Hills was also a ...
. 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 Sir Jack Petchey (born 19 July 1925) is an English businessman and philanthropist. Early life He was born on 19 July 1925 in Plaistow, Essex. He came from a working-class family and was brought up in the East End of London, leaving school aged ...
was a director at from June 1978 until 1989.


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 Eggert Magnússon (born 20 February 1947) is an Icelandic businessman and former president of the Football Association of Iceland and ex-chairman of West Ham United. Eggert is a former owner and CEO of an import/export and bread and biscuit manufa ...
and
Björgólfur Guðmundsson Björgólfur Guðmundsson (born 2 January 1941) is an Icelandic businessman and former chairman and owner of West Ham United. Björgólfur was Iceland's second wealthiest businessman worth more than a billion dollars — his son, Björgólfur T ...
bought the club. On 18 September 2007, Magnússon stepped down as
executive chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...
but would still retain the role as club
non-executive chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the group ...
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

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 ''Olympic Stadium'' is the name usually given to the main stadium of an Olympic Games. An Olympic stadium is the site of the opening and closing ceremonies. Many, though not all, of these venues actually contain the words ''Olympic Stadium'' as ...
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


References

{{West Ham United F.C. West Ham United F.C.