Take Over Another Step Forward
Israeli businessman Eli Papoushado has confirmed he would back Kia Joorabchian if he succeeded in a takeover at West Ham.
Joorabchian paid for the club's signing of Argentinians Carlos Tevez and Javier Mascherano, and the deal seems on.
Joorabchian was reported to be looking for partners to help fund his £100million bid, of which £70million is needed to buy shares and £30million to clear the Hammers' debt.
Papoushado: 'This is to confirm that Mr Kia Joorabchian has spoken to me about leading a consortium of investors in football projects.
'After considerable thought, I have agreed to participate if Kia decides to go forward with any such project.
'I would like to confirm that I will not be taking part in any management but will be solely an investor.
'This statement does not suggest that there will or will not be a project in the near future, just a clarification of reports about my involvement as a potential investor with Mr Kia Joorabchian.'