THE consortium rebuffed by West Ham in February will persist in their bid to buy the club.
PAI Capital made an approach to David Sullivan six months ago but it was dismissed as a “vague proposal” by the Hammers' joint-owner — who claims they did not produce any proof of funds.
West Ham continue to say they have not received a formal bid and Sullivan and David Gold have no intention of flogging the club.
But PAI managing partner Nasib Piriyev says proof of funds were provided — and that the club gave the consortium full access to their business data for two months.
Azerbaijan businessman and Hammers fan Piriyev said: “If Mr Sullivan does not agree to our offer price, he has the full right to do so.
“Although I do believe any owner of a Premier League club and a brand of West Ham’s calibre must also feel a duty to the community and fans — but what he cannot do is simply say that we are not serious.
“We will continue pursuing this opportunity and make our best efforts to get him to agree to sell his controlling stake of the club.”
Piriyev formed PAI Capital in 2019 and has the support of former Hammers stars Rio and Anton Ferdinand.
Robin Brundle, brother of ex-F1 driver Martin Brundle, and former QPR chief executive Philip Beard are among the partners.
And last month Pai partner Philip Beard insisted that the consortium are genuine in their interest and do have the capital to back up their initial enquiry.
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He said: "In response to David Sullivan's comments about the nature and value of the bid put forward by the consortium, I can confirm a formal offer was made which was in fact the figure David Sullivan had initially asked for.
"Our city lawyers were instructed and David Sullivan was provided with proof of funds.
"At no point were we asked to produce further information about our football strategy. It was quite clear to me that David Sullivan's sole focus was on price.
"We remain committed to purchasing opportunities to purchase the club."
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