The $30 million toe in the water

David Sullivan's business empire began with humble beginnings, selling second-hand match programmes at Upton Park. At eleven, he started this entrepreneurial venture, sneaking into the directors' box post-match to collect discarded copies. he would bung groundsmen a fiver for their old stock and stack them high at big grounds like Wembley, selling them cheaply.

Fifty different programmes for six shillings and sixpence, he once boasted.. This early hustle was a clear precursor to his later business empire, which exploded when he and a university friend began selling glossy prints of topless models, scaling up from 20 for a pound to 200.

His football ambitions, however, were temporarily halted when stewards ejected him from West Ham's ground. 'He vowed, as he packed up his wares, to one day come back and buy the place. He was true to his word,' the narrative notes.

Who is the unnamed buyer?

The Independent Football Regulator is now investigating West Ham following bombshell accusations against Sullivan, which he denies. The regulator holds the power to force an owner to sell their share should it deem their integrity insufficient. There was no such body in 1993 to scrutinize Sullivan's baggage before his Birmingham venture.

His past cast a long shadow. in 1982, he served 71 days in prison after being convicted of living off immoral earnings from prostitution, a conviction later overturned on appeal. He was also the owner of the Daily and Sunday Sport, tabloids renowned for their topless imagery and sensational, often fabricated, stories.

The $700,000 gamble

Sullivan and his associates, the Gold brothers, acquired Birmingham City in 1993 for around £700,000 after it fell into administration. Their arrival marked a dramatic cultural shift. They eschewed the traditional boardroom camaraderie, isolating themselves in a separate 'chairman's room' and sending a clear 'us versus you' message.

Their most striking move was installing Karren Brady, then just 23, as managing director - a decision that turned many heads. One former employee recalls Sullivan's blunt communication style: 'If he thought you'd done a s*** job he would tell you. You always knew where you stood with him.'

An echo of Sydney's 2024 institutional buy-up

The parallels between Sullivan's takeover of Birmingham City and the recent institutional buy-up of Sydney's football clubs are striking. Both involved a dramatic shift in cultural dynamics, with the new owners imposing their will on the club.

However, the similarities end there. While the Sydney clubs have seen a significant injection of funds, Sullivan's business empire has been built on a foundation of controversy and aggressive tactics.