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West Ham chairmen increase their stake in the club

PUBLISHED: 13:08 27 May 2010 | UPDATED: 16:05 05 October 2010

during a photocall at Upton Park on January 19, 2010 in London, England.

during a photocall at Upton Park on January 19, 2010 in London, England.

West Ham co-chairmen David Gold and David Sullivan has increased their shareholding in the club five per cent each to take their joint ownership to 60 per cent

West Ham co-chairmen David Gold and David Sullivan has increased their shareholding in the club five per cent each to take their joint ownership to 60 per cent.

This increase means they have given up a further £8million of their own money with £4million going to buy the shares from CB Holding while the other half invested in to the club.

The former Birmingham owners bought half of the club from CB Holding back in January for £100m and at the time said they had the option to buy the remainder of the shares within three years.

The duo have taken the first steps to do this, while they are, like in the past, again encouraging others to get involved and co-owner Sullivan spelt out the positives on the club's website.

"Myself and David Gold are, like you, West Ham United fans and our aim is to ensure our club enjoys a stable and successful future. To this end, we have both invested a further £4m to increase our shareholding to 30 per cent each," he said.

"We have a long-term intention of increasing our shareholding, while we have also invited professional investors to share in our vision for this special club.

"Also, in the near future we hope to extend to supporters the opportunity to invest in the club. We are committed to putting West Ham on a firm financial footing that will form the basis, we hope, for success both on and off the pitch."

It is expected that Gianfranco Zola's assistant manager Steve Clarke will be leaving the club in the not too distant future.

Speculation has mounted that Clarke does not in fact get on with probable incoming manager Avram Grant as well as reported in the media and both parties are thrashing out a deal for the Scot to leave.

After negotiating a settlement for the remainder of Clarke's deal, West Ham hope to employ a new coach with the surplus of the funds available, had the former Chelsea man seen out his contract.

The Israeli is expected to take the reigns at Upton Park this Tuesday.

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