Archive for the ‘Landsbanki’ Category

Aside from the commitment of the new Icelandic banking consortium which is a 2 year pledge, reportedly, and an undertaking to develop the infrastructure at the Boleyn Ground (the long spoken about development of the East side of the gound, perhaps?) i guess the key quote of interest today is the assertion that the new owners:
“assure fans we will sanction investment in new players, but all within the parameters of sensible budgeting based on revenues generated by West Ham United”.
This would seem to mean no significant additional investment but, moreover, the buying in of players as and when outgoing sales permit.
So, same old, same old I guess. No great surprises then, but on a day when the talk is of other great clubs potentially looking at administration and consequent points deductions I for one am happy to take the safe road.
I guess there might be some who feel a little more disappointed?

Lo and behold, West Ham are officially up for sale and at £250m that should make BG a nice little earner for his 2 years of greif even after a probable payout to Sheffield Utd.

The vice Chairman Asgeir Fridgeirsson has admitted that BG has been considering a sale since November after a lot of interest was shown in purchasing the club from potential buyers and what BG is looking for has to be a heavy investor like the Abu Dhabi group whom purchased Man City.

AF said in a phone interview to the Associated Press:

“We are reviewing the asset, looking at what might be the value of the club, There is a great interest in the club and many interested parties are calling to show interest. It is part of reviewing the assets of Mr. Gudmundsson and what might be the possible value of each asset. Following such a review we will take a decision whether to sell or not. We don’t have to sell. It’s a process where we are gathering options and information to see what is out there in terms of demand.”

WHUFC For Sale

Well i cant speak for the demands of BG but i can for the demands of the fans, BG obviously does not have the funds to take the club forward and selling the club will be the best thing all round.

The most likely buyer will be Prince Shaikh Hamdan who is on par wealth wise as the Abu Dhabi group, this is the guy who was on the brink of buyin Charlton a few months ago but backed out at the last moment when rumours were ripe that West Ham were looking to sell the club.

As a fan, my major worry is, if and when we sell and take on a new owner, will West Ham be his/her toy or will he/she show passion for the club as we do, which is very doubtful as it takes years of pain and misery and love to feel about West Ham as we do.

West Ham’s holding company applied to enter administration amid financial turmoil roiling the Premier League football team’s owner Bjorgolfur Gudmundsson.

Hansa Eignarhaldsfelag ehf will be run by an administrator appointed by Icelandic authorities, West Ham Vice Chairman Asgeir Fridgeirsson said today in a phone interview.

“There’s no chance of anything happening to the club,” Fridgeirsson said. “West Ham has no loans — it’s a clean sheet.”

West Ham won’t be subject to a sanction because the London club isn’t directly affected, a Premier League official said. Under league rules, clubs that become insolvent are docked nine points.

Source Alex Duff Bloomberg.com