Sullivan has, along with his business partner and former Upton Park youth-team player David Gold, acquired 50% of West Ham in a deal which values the club at £105million and gives the duo operational and commercial control. However, while living out a boyhood dream, Sullivan - who helped turn the fortunes of Birmingham around before selling the club last year - admitted their latest venture made no business sense whatsoever. West Ham's overall debt stands at around £100m, owed to both banks and other clubs, including settlements to Sheffield United over the Carlos Tevez affair and former manager Alan Curbishley. On the field, things have not gone according to plan this season either. Gianfranco Zola's men are currently out of the relegation zone only on goal difference. The new owners, though, are set to meet the manager and discuss what he needs to help secure top-flight status - which will be crucial to the club's short-term security. Had the takeover not gone through, West Ham would have needed to raise £20m by the end of August to stay afloat - which included £8m this month, possibly by cashing in on the likes of England internationals Robert Green, Matthew Upson and Carlton Cole. There have been reports some of the squad were becoming unsettled and Sullivan admits it may be worth letting players leave if their heart is not at the club. However he believes they should stay and get the club out of the relegation scrap they have put themselves in. He said: "If they are desperate to go and you get the right offer, you don't want to keep unhappy players. Against that, I think the players have got us in the state we are in and they are entitled to dig us out of this state. "You might have to say to a player 'look, we will let you go, but not until the summer and only if we stay in the Premier League. If we go down you will have a year in the Championship. You have caused it. You will pay the price'." Sullivan, 60, insists the current regime is in place for the long haul and called on other supporters, including Lotus F1 supremo Tony Fernandes, whose takeover bid was unsuccessful, to provide more investment. "We would like him to become a director and would like him to buy up 50% of the club and like him on board," said Sullivan, who has an option to buy the remaining stake from Icelandic bank Straumur directly or through other interested parties within the next four years. "This is like a government of national unity in a crisis so the more parties join up, it will be better for the unity for the good of the club." Sullivan, who intends to pursue the option of moving to the Olympic Stadium after the 2012 Games, insisted: "We are not stupid people. We know what we have done makes no financial sense at all. But it is West Ham and that is all you can say. "Some of the poor season-ticket holders, what they spend on a season ticket relative to their income is exactly the same. "They think 'why I am doing it?'. They are doing it because it is West Ham. We are doing it on a bigger scale." Sullivan accepts the Hammers are now paying the price for the aspirations of the previous ownership, spearheaded by former chairman Eggert Magnusson. He said: "The Icelandic owners built up a business formula that did not work. "So have Manchester City and Chelsea - but if you have an owner that is prepared to subsidise the club for £50m or £60m a year then it is not negligence. "Clearly Magnusson thought that the owner would subsidise the club. "The accounts will come out shortly and I am sure that they will show another £40m or £50million loss."
