West Ham United Football Club (WHUFC) has confirmed that former Birmingham City Football Club (BCFC) owners David Gold and David Sullivan have acquired a 50 per cent stake in the club.

The deal, which values the Premier League club at £105m, was concluded on 18 January and will result in the pair taking over operational and commercial control from former owner, asset management company CB Holding. Sullivan and Gold, who left BCFC last September after the Midlands club was the subject of a successful takeover bid by Hong Kong-based businessman Carsten Yeung, will be joined at WHUFC by former colleague Karren Brady.

As well as looking to reduce the Premier League club's £100m debt through external investment, Sullivan has also outlined plans to secure a move to London's Olympic Stadium after the 2012 Games. Sullivan said: "Our long-term aim will be to put the club on a stronger financial footing. I believe with our new board we have the expertise and experience to do just that and bring the good times back to this great football club.

"We have got to look at all sorts of ways of bringing in revenue. We will be looking at everything, from saving money to bringing money in. We want to spend the money on the team not everything else."