New West Ham owners target Olympic Stadium move

LONDON: David Gold and David Sullivan, former owners of Birmingham City, took control of debt-ridden Premier League rivals West Ham United on Tuesday and set their sights on moving the club to the new Olympic Stadium.

Icelandic bank Straumur said it had sold subsidiary CB Holding's 50 percent stake and Sullivan and Gold would take immediate operational and commercial control.

Straumur, which said the deal valued the strugglers at 105 million pounds ($172.5 million), retained the other 50 percent although Sullivan expected to attract more investment.