Bjorgolfur Gudmundsson: I would rather sell my other assets then sell West Ham United
October 13th, 2008 | 
Author: After speculation that Bjorgolfur Gudmundsson is looking to sell West Ham United and that the club would be going into administration, news has arrived that Bjorgolfur Gudmundsson wants to reassure the fans that he has no intentions of selling his club and that administration is far from being true.
According to the Independent Bjorgolfur Gudmundsson is furious with rumours that West Ham United have supposedly asked the firm Seymour Pierce to find a new owner for the club, he also wanted the fans to know that he would rather sell any of his other assets than sell West Ham United.
This is great news from the big man whom has suffered great losses in his Icelandic empire and that his country Iceland are begging him to sell his European assets in aid of helping the Icelandic economy.
All premier league clubs have massive debts and West Ham’s debts are around £60m in various loans, this amount is nothing compared to what is called the big 4 clubs which in total is estimated at around £1.2bn.
The threat of having to pay Sheffield Utd up to £50m is a big worry for the club, but with the talent of the squad and at least 6-8 players rumoured to be sold in january the club will be ready for its destiny.
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Posted in Bjorgolfur Gudmundsson, Featured Article, Sheffield Utd, Transfer Rumours, Transfers, West Ham News, finance | 
Tags: Administration News, Assets, Bjorgolfur Gudmundsson, Destiny, Economy, Empire, Great News, Independent, Loans, Losses, Massive Debts, Premier League Clubs, rumours, Seymour Pierce, Sheffield, Speculation, West Ham United, Worry
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Dunno what planet you are on this is not good news. It has already been made clear that there will be no more investment in the squad and if anyone thinks this squad is good enough to finish in the top 8 they are in serious need of anti-delusional medication. BG has only put in a net investment of £14 million in 2 years, less than Brown. You mention the 6-8 fringe players to be sold, I don’t hear anyone clammering for them, they would much rather go after the players we do want to keep and if BG is still at the helm in Jan what is to say he will not cash in on them and we are then left with the likes of those we want to sell but can’t. BG should sell as he cannot back Zola with continuous investment as per our main competitors and we should get in owners who are willing to speculate to get us into the top 6. If you are happy with mediocrity then so will the Board be but if we push for what this great club deserves then we can become a real force rather than bit players. BG must go and soon.
JMan: this is the kind of news we want to hear, I think that you are forgetting that Brown too had massive debts and that he sold key players to keep finances as best that he could.
sorry,where did you hear this or read it? i cant find it anywhere on the webb please do tell?
I read it on the Independednt, back to school for some of you lads.
Sorry guys, i forgot to add the link in, have faith!!
I was wetting myself laughing at Iain Dales post today on West Ham Till I Die, he might as well of copied the post that was on this site yesterday.
understand that Tony but without investment the club is going nowhere and it is clear that BG has taken such a hit that investment has been erased from his dictionary. We need investment (responsible yes)Â to push on and enable Zola to succeed or fail on his own ability and if BG can’t do that then someone who can needs to take over the reins
I can’t see BG staying for much longer to be honest. Other money or not , the guy lost a huge sum.
JMan, you seem to miss many key statements from our board and simply accepting paper talk as if it where the ‘divine’ and ‘holy’ pages of the bible.
I don’t know what planet you are on, it has already been made clear there will be no investment – yes. You are correct, but somewhere you seem to conveniently forget that statements point toward the squad size needing reducing prior to more purchases, which even a fool could see that this is a major concern as it simply is not viable financially when considering the club revenue.
You’ve also seem to taken other aritcles to heart, but even if the total net investment is the small amount of £14 mil’ suggested by yourself you only need to look at the wage bill to understand why this has been a moderated and reasonable approach since the ‘resingation’ of the late great Egg. If those spending policy’s had continued then now we would have been in a critical situation.
Your entire post is flawed and just reaks of negativity, to mearly summarise my opinion – we’re truely going in the right direction with an incredibly sound business approach, whilst at the same time with each actual event I’ve seen unfold making those long and sometimes hard steps towards improvement.
Why do so many remain so negative why confronted by paper talk, each move I’ve seen this board make I’m convinced has been for the greater of the club to date, long may it continue.
I seriously hope I’m correct, I’m not worried in the slightest right now considering all of this seemingly (imo) simple torrent of uncontrollable media spin – even how the rumours have progressed is plain for all to see and you perhaps could make a few quid if you put bets on the upcoming headlines.
Rome was not built in a day.
Not sure what to believe. Reading all the speculation on sellling the team is the same crap around transfer time. It seems anything written is gospel.
I think this is what you are looking for:http://www.guardian.co.uk/football/2008 … thamunitedEnjoy
Dont let BG drag us down with him. He must sell, we can’t have this stubborn idiot in charge. He knows nothing about football and what is needed for success. If they’re not saying anything then they’re feeding us lies. The squad was trimmed massively in the summer and replaced with loan signings, a pathetic way to run a team and yet they insist more sales are necessary, no doubt again being replaced with more (cheap) loan signings.
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