PREMIER - West Ham rejects buyout from PAI Capital consortium
West Ham United has turned down a final acquisition proposal from the PAI Capital consortium, according to the club.
PAI was willing to give a £150 million capital injection for the Premier League team, fronted by Azerbaijani investor Nasib Piriyev and featuring former QPR chief executive Philip Beard.
That money would have gone into improving the training facility, youth academy, scouting setup, and player recruiting.
Hammers co-owner David Sullivan had turned down the offer "on the grounds that, with the team performing so well, it is not the proper moment to sell," according to the consortium.
West Ham, who have been revitalized by manager David Moyes during the previous 18 months, are currently ninth in the Premier League and eliminated Manchester United from the League Cup on Wednesday.