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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

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 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.


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