Last update on. From the section West HamWest Ham moved into London StadiumRio Ferdinand, a former defender, is backing a consortium that wants to take over West Ham United. They have also held discussions about the control of London Stadium.PAI Capital Ltd met in February with David Sullivan, David Gold and other club owners. They insist that they won't be selling.Talks with the London Legacy Development Corporation regarding the former Olympic Stadium are now underway.Since 2016, West Ham has leased their home to the LLDC.Philip Beard, former Queens Park Rangers chief executives, stated in a statement that he is leading the bid. "We truly believe that the club and stadium, as well as [Queen Elizabeth Olympic] Park, will thrive when all stakeholders are pulling in the same direction.""The only thing that is holding us back right now is the unwillingness of the club's owners, to engage constructively and realistically in negotiations."We believe that they are willing to buy, and we hope we can make significant progress in the next weeks."BBC Sport has learned that PIA does not plan to continue negotiations with the consortium.It is also acknowledged that a deal without West Ham is not a good idea, since the park loses money each time they host a West Ham home match at the London Stadium.The stadium suffered a loss of 29 million in 2019-20. Future losses are expected to be between 8 and 10 million.Lyn Garner is the chief executive officer of the LLDC and has confirmed that negotiations are ongoing with PAI.She said that she had entered into negotiations with PAI Capital regarding a set of principles which, if adopted would see PAI Capital owning West Ham United's stadium on a long leasehold if they reached an agreement with West Ham United. They could also take a controlling stake in the club.Ferdinand started his career at West Ham, before moving to Leeds United in 2000. He is now supporting PAI with his brother Anton. Anton also played for the club from 2003 to 2008.He stated that he and his wife love the club with a great passion. Anton and me are both thrilled that PAI wants to help improve the fan experience. I'm also delighted that they have asked us to be a major part of the club's success.PAI's Nasib Piriyev adds that "Club ambassadors could be a key role in ensuring that we keep true to the claret-blue traditions." Rio Ferdinand and other club ambassadors have agreed to participate.
