West Ham chiefs reject whopping £650m takeover bid from Red Bull
West Ham have turned down an incredible £650m takeover bid by energy drinks giant Red Bull. The Hammers have been identified as a target for the Austrian business, who are keen to move into the Premier League after purchasing controlling stakes in clubs in Germany, the United States, Brazil, Ghana and in their homeland.
Reports surfaced over the weekend that they were looking into a bid for east London side West Ham after being drawn in by its location and the potential to rebrand the London Stadium, though co-owners David Gold and David Sullivan have been vocal in their desire not to sell.
It now appears that they have backed their words up with their actions, as it has emerged that the club rejected a £650m takeover offer in August, more than three times the value of the club, according to Sullivan's son, Jack.
Taking to Twitter, Sullivan wrote: "Re Red Bull story, completely out of date and figures wrong. We turned down £650m in August. We have no desire to sell out. No desire to sell our heritage and be called Red Bull West Ham #coyi."
A recent valuation put the Hammers around the £200m mark, and the offer from Red Bull shows that they are keen to invest in English football. Red Bull have been linked with takeovers of Championship sides Leeds United and Brentford, as well as League One outfits Charlton and Swindon Town, but they have dismissed these reports.
David Sullivan has said previously that they "might sell a shareholding to clear our debts".
The Hammers' relocation to the London Stadium is said to be the biggest lure for Red Bull, who believe they can rebrand the club. Red Bull bought SV Salzburg in 2005 in their homeland and changed their name to Red Bull Salzburg, and two years later purchased German fifth-tier side SSV Markranstadt, before transforming them into RB Leipzig and securing four promotions to sit second in the Bundesliga.