The $38.8 million question

David Sullivan, co-owner of West Ham United, has been accused of preying on women for sex. The Independent Football Regulator (IFR) has described the allegations as 'extremely serious' and will seek urgent information from Sullivan.

Sullivan has denied any wrongdoing and remains the largest shareholder at the London Stadium with a stake of 38.8 per cent.

The IFR's power play

The Independent Football Regulator (IFR) has the power to force unsuitable owners to sell a club, and Sullivan could be forced to sell his stake in West Ham United if the allegations are proven.

The IFR's Owners and Directors test can go further than those used by the Premier League and EFL, with forced sales included as a last resort.

The watchdog has previously said it will be able to 'assess the honesty , integrity and financial soundness of those who want to own or run a football club, ensuring they have the necessary skills and experience to do so.

If the IFR finds that Sullivan does not meet the criteria, they can act.

A spokesperson for the IFR said: 'These are extremely serious allegations. We are in contact with West Ham on this matter and will use our statutory powers to seek urgent information from David Sullivan relating to his suitability under our Owners,Directors and Senior Executives regime.

We are unable to comment further at this stage.

West Ham's divided fan base

Last season anti-Sullivan chants were heard at nearly all Hammers matches amid a broken relationship between the club's board and its supporters.

Sullivan initially bought a 50 per cent share with late business partner David Gold in January 2010.

Sullivan's right-hand woman, Karren Brady, quit the club in April.

What auditors flagged in the May filing

A spokesperson for West Ham United declined to comment on the allegations, citing the ongoing investigation.

The club's financial statements for the May filing have not been made public, but it is understood that auditors flagegd conecrns about Sullivan's suitability as an owner.

The exact natre of these concerns is not clear, but it is understood that auditors will be scrutinizing Sullivan's business dealings and personal relationships in the coming weeks.

Who is the unnamed buyer?

Czech billionaire Daniel Kretinsky holds a 27 per cent stake in West Ham and it remains to be seen if he has the appetite to increase that share.

Kretinsky has been a vocal supporter of West Ham United and has invested heavily in the club in recent years.

However, it is unclear whether he will be willing to increase his stake in the club if Sullivan is forced to sell his shares.