Just last month Sullivan admitted he was not happy with the Hammers' slide from fourth place down to midtable in the Premier League. He told WHUFCTV.com at the time: "The last 12 games have been exceedingly disappointing."
Speculation over the future of boss Sam Allardyce has become intense during the club's disappointing second half of the season which has seen the team garner just three wins.
And the board have remained tight-lipped over Allardyce's future at the club, insisting the situation would not be reviewed until the end of the season, as per club policy.
A host of managers from across Europe have been linked with the Upton Park hotseat in the interim, including Rafa Benitez in the Telegraph.
But despite West Ham's fall from the heady heights to midtable mediocrity in a campaign that promised so much, the duo have taken time out to look back at the positive aspects of the 2014-15 campaign.
In a positive joint statement on West Ham's official website, the duo said they had time to reflect on the season as a whole during the club's recent awards night.
"We spent an enjoyable evening reflecting on another action-packed season for West Ham United," they said.
"It is a campaign that has delivered some fantastic results, not least the victories against Manchester City and Liverpool and running the top six close in every encounter."
It is not just those fantastic victories that have the co-owners in a positive mood, though. They were also delighted to see many of the club's summer signings pay off in great style.
They added: "We have seen several new faces come in and make their mark on our great club and it was good to see the likes of Aaron, Top Goalscorer Diafra Sakho and Individual Performance of the Year winner Cheikhou Kouyate feature prominently (in the awards)."
Although the Hammers have struggled to keep up with the top seven since Christmas, they could still make it into Europe by virtue of being the highest placed team in the English FIFA Fair Play table not to have already qualified through other means, be it league or cup.