Hammers up for sale at £250m

PUBLISHED: 10:40 18 December 2008 | UPDATED: 13:54 05 October 2010

By JONATHAN CLEGG WEST HAM are in talks with up to five potential buyers after the club s owner Bjorgolfur Gudmundsson put a £250m price tag on the Hammers this week. The club s vice chairman Asgeir Fridgeirsson admits that Gudmundsson is looking to offl


WEST HAM are in talks with up to five potential buyers after the club's owner Bjorgolfur Gudmundsson put a £250m price tag on the Hammers this week.

The club's vice chairman Asgeir Fridgeirsson admits that Gudmundsson is looking to offload West Ham following a series of financial setbacks in recent months.

The economic meltdown in Iceland reportedly wiped £230m off the tycoon's personal fortune and Gudmundsson is now considering selling the Hammers just two years after buying the club.

Fridgeirsson has revealed the club have already been contacted by interested investors and the board will now meet to consider potential bids before deciding on a possible sale of the club.

"It is part of reviewing the assets of Mr Gudmundsson and what might be the possible value of each asset," he said.

"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. Many interested parties are calling to show interest."

Gudmundsson's decision to consider a sale of the club comes after Hansa, the club's holding company, entered into the process of administration last month.

Court papers filed in Iceland on Tuesday stated that Hansa wants around £250m for West Ham, which was sold to Gudmundsson for £85m in 2006.

A potential stumbling block to the sale could be Sheffield United's claim for more than £30m in damages over the Carlos Tevez affair and Gudmundsson could be forced to accept a lower figure.

The doubts over the club's long-term ownership could now affect their dealings in the January transfer window.

Yet Hammers boss Gianfranco Zola insists the club will not sell their star players next month.

He said: "I'm very happy with the players I'm working with. If we have the possibility to improve the squad, we will try to do it - but we're not going to be selling our best players.

"We have a big squad and we might be selling some players that are not playing here and need to play. But we will see - the most important thing is that the club is not going to sell our best players.

If you value what this story gives you, please consider supporting the East London Advertiser. Click the link in the yellow box below for details.

Latest East London Sports News

Yesterday, 18:12

Lee Westwood is optimistic that the European Tour’s planned resumption at the Betfred British Masters will go ahead in July.

Yesterday, 16:00

West Ham United co-owner David Sullivan is to make a personal donation to Newham Foodbank of £3,500, to cover the shortfall in matchday donations from the five postponed home matches from Irons Supporting Foodbanks.

Yesterday, 14:00

Players from West Ham United’s Academy of Football are keeping track of their fitness programmes, while at the same time raising money in aid of King George and Queen’s Hospitals Charity, to support their inspiring local NHS heroes in East London and Essex.

Yesterday, 10:00

Leyton Orient chief executive Danny Macklin heaped praise on Tottenham Hotspur striker Harry Kane by terming him as a ‘first-class individual’

Yesterday, 07:35

The International Cricket Council (ICC)’s recommendation of a temporary ban on using saliva to shine the ball could hand batsmen a significant advantage, claims Australia paceman Mitchell Starc.

Mon, 16:02

The 2019-20 Women’s Super League season has been brought to an end with immediate effect.

Mon, 13:00

Premier League clubs will vote on proposals for a return to contact training on Wednesday.

Mon, 12:00

With sport still shut down across most of the globe due to the coronavirus pandemic, why not test your sporting knowledge with another quiz?


The Government has announced an unprecedented package of support to protect jobs and support business across the UK during the coronavirus outbreak.

People working for a wide range of private companies have been standing side-by-side with public sector staff on the front line during the coronavirus outbreak.

The United Kingdom is pulling together as one, with people from all regions and all four nations of the country helping each other through the coronavirus pandemic.

Most read sport


A competition for wannabe writers has been started to add works to Canary Wharf’s ‘short story’ dispensers which are temporarily locked up by the lock down.

Digital Edition


Enjoy the
Docklands and East London Advertiser
e-edition today


Education and Training


Read the
Education and Training
e-edition today

Read Now

Most Read

Latest from the East London Advertiser