West Ham have confirmed that American billionaire Albert ‘Tripp’ Smith has bought a 10 per cent stake in the club and will take a seat on the board.
Smith, the senior managing director of private equity firm The Blackstone Group, replaces former non-executive director Daniel Svanstrom, who resigned his post last week.
Svanstrom’s stake in the club was as a representative of former owners Straumur, an Icelandic investment bank, who sold their majority share to David Sullivan and David Gold in 2010.
Though fans would be understandably excited by the appointment Smith, who bought the 10 per cent stake using his own funds, the 52-year-old has no ambition to increase his share or take a majority.
Furthermore, due to a clause in the London Stadium lease agreement Sullivan – the current majority shareholder – cannot sell to another buyer within the next four years.
The east Londoners become the latest Premier League side to seek American investment, with Manchester United, Arsenal and Liverpool among a number in the top flight to have influence from the US.
