Magnusson defends transfer deals

PUBLISHED: 18:21 28 January 2009 | UPDATED: 14:00 05 October 2010

Former West Ham chairman Eggert Magunsson has hit back at criticism of his transfer dealings at Upton Park

Former West Ham chairman Eggert Magunsson has hit back at criticism of his transfer dealings at Upton Park.

Magnusson presided over a series of controversial signings during his spell as Hammers chairman, splashing out huge fees to secure the signings of current flops Luis Boa Morte, Julien Faubert and Kieron Dyer.

The Icelandic tycoon also handed massive wage deals to persuade Lucas Neill and Freddie Ljungberg to join the club, and his big-spending ways were last week branded "a danger to football" by Everton boss David Moyes.

Yet Magnusson has spoken out in the wake of Craig Bellamy's £14m sale to Manchester City, which represents a significant profit on a player the Hammers signed for £7.5m in July 2007.

He said: "I am very proud of my time at West Ham. We were in a situation where we were bottom of the league and needed players in January.

"You only have to look at the prices Manchester City are paying now to see how difficult that is.

"We paid for quality players but they were the right ones and, like Bellamy, will attract big fees. I believe my last signing - Julien Faubert - will be another one."

Following Bellamy's exit, West Ham have now parted company with 11 first-team players since Magnusson was fired by Hammers owner Bjorgolfur Gudmundsson in December 2007, receiving more than £32m in transfer fees.

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