Thursday, October 19, 2006
The Ice Age Cometh?
C+P TEAMTalk
Magnusson close to Irons takeover
West Ham are expected to make an announcement on Thursday regarding Eggert Magnusson's proposed £75million takeover of the club.
The Icelandic businessman, who is head of the Football Association in his own country, has reportedly met Hammers chairman Terry Brown this week for discussions.
His initial bid was turned down last week but he returned with an improved offer.
It is understood that an announcement on the matter, either through the Stock Exchange or the club, will be made on Thursday.
The funding for the deal is expected to be provided by a respected Icelandic financial institution - although not the investment bank Straumur-Burdaras of which Magnusson is vice-chairman.
The Hammers have also been linked with a takeover by a consortium headed by entrepreneur Kia Joorabchian, who orchestrated the transfer of Argentina internationals Carlos Tevez and Javier Mascherano to Upton Park.
Alan Pardew's men, however, have not won since the arrival of the pair and have lost their last six matches in all competitions, including a defeat to Italian side Palermo which knocked them out of the UEFA Cup.
Foreign investors have been attracted to English clubs by the lure of the next Premier League broadcasting deal, which will see income from television rise by an average of 67% for clubs in the top flight, as well as the prestige of owning a global brand.
Magnusson close to Irons takeover
West Ham are expected to make an announcement on Thursday regarding Eggert Magnusson's proposed £75million takeover of the club.
The Icelandic businessman, who is head of the Football Association in his own country, has reportedly met Hammers chairman Terry Brown this week for discussions.
His initial bid was turned down last week but he returned with an improved offer.
It is understood that an announcement on the matter, either through the Stock Exchange or the club, will be made on Thursday.
The funding for the deal is expected to be provided by a respected Icelandic financial institution - although not the investment bank Straumur-Burdaras of which Magnusson is vice-chairman.
The Hammers have also been linked with a takeover by a consortium headed by entrepreneur Kia Joorabchian, who orchestrated the transfer of Argentina internationals Carlos Tevez and Javier Mascherano to Upton Park.
Alan Pardew's men, however, have not won since the arrival of the pair and have lost their last six matches in all competitions, including a defeat to Italian side Palermo which knocked them out of the UEFA Cup.
Foreign investors have been attracted to English clubs by the lure of the next Premier League broadcasting deal, which will see income from television rise by an average of 67% for clubs in the top flight, as well as the prestige of owning a global brand.
Posted by whubris at 8:03 am
Dave said...
I've heard it is only a stock exchange announcement that they guy is upping his bid. Why would brown accept 40m when he was asking for 104m 2 weeks ago?
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Dave said...I've heard it is only a stock exchange announcement that they guy is upping his bid. Why would brown accept 40m when he was asking for 104m 2 weeks ago?
