The full extent of West Ham's financial strife has been uncovered after it was revealed the personal debt of chairman Bjorgolfur Gudmundsson stands at ?300m.

 

Gudmundsson bought West Ham for ?85m in November 2006 and has invested a further ?30m in the club since then.

 

However, the 67-year-old's business has suffered a series of setbacks and his liabilities will increase pressure for West Ham to be sold in the summer.

 

"The situation is very bad," he told Icelandic newspaper Morgunbladid.

 

"I have everything on the line - personal liability extends to all of my assets.

 

"I'm left with the question, what is my position? I must admit that I'm a little lost. I just don't know what I will be able to keep."

 

http://news.bbc.co.uk/sport1/hi/football/t...utd/8036653.stm

So does that mean if West Ham finish in a Uefa spot they may not be granted entry?

So does that mean if West Ham finish in a Uefa spot they may not be granted entry?

 

 

That is correct

That is correct

 

Happy days should it come about, what a good evening

It won't happen.

 

1. There's a consortium (also from Iceland) poised to take over the club.

2. They won the World Cup: this makes them exempt from keeping to the financial rules.

bloody hell.............

i agree with traff..

bloody hell.............

i agree with traff..

 

Well, you had to be right eventually!

It won't happen.

 

1. There's a consortium (also from Iceland) poised to take over the club.

2. They won the World Cup: this makes them exempt from keeping to the financial rules.

Well there is - but it is only a consortium of Gudmundsson's creditors looking to recover as much of their money from him as they can - by taking over and selling his assets, such as West Ham -

 

"A consortium of creditors led by Icelandic bank Straumur - which is itself in financial difficulties - is in talks about taking over West Ham.

 

However, control may end up in the hands of an asset management company appointed by the Icelandic government.

 

Whoever ends up in control, Gudmundsson's situation is so bad that his creditors are thought to be keen to cash in on one of his few remaining assets, meaning all that is needed is for someone to make a reasonable offer for the club".

But it'll be considered good enough to secure their UEFA club licence, which was the original answer to the original question.

 

Who actually will own them in the future is an irrelevance to the point of whether or not they'll be allowed to compete in Europe, should they qualify of course.

 

Your statement merely muddies the waters.

But it'll be considered good enough to secure their UEFA club licence, which was the original answer to the original question.

 

Who actually will own them in the future is an irrelevance to the point of whether or not they'll be allowed to compete in Europe, should they qualify of course.

 

Your statement merely muddies the waters.

 

Was taken directly from the article I linked to originally.

 

The article goes on to talk about West Ham's belief that they will obtain a Uefa club licence - needed if they qualify for the Europa League.

Relegate them....fans are as deluded as the jawdee's and Trevor Brooking is a cunt with a peado's smile

Relegate them....fans are as deluded as the jawdee's and Trevor Brooking is a cunt with a peado's smile

 

Automatic swap with Sheff Utd

Edited May 7, 200917 yr by superjohnmcginlay

HAHAHAHA! enjoying that relagation scrap are we.....

how does this not make them the same as southampton?

HAHAHAHA! enjoying that relagation scrap are we.....

 

We'd be a lot worse if it were not for the 6 generous points you lot gave us

We'd be a lot worse if it were not for the 6 generous points you lot gave us

 

alright you got me on that one....fucking xmas day at our place if i remember......anyway anyone know how to get to Chelsea....? ive heard its 2 mins from Rome!!!!!

HAHAHAHA! enjoying that relagation scrap are we.....

 

We would....if we were in one.

 

You still only visit East London on matchdays then?

 

We would....if we were in one.

 

You still only visit East London on matchdays then?

 

 

 

hahaha....yer fucking too right ...still not like Bolton ay

alright you got me on that one....fucking xmas day at our place if i remember......anyway anyone know how to get to Chelsea....? ive heard its 2 mins from Rome!!!!!

 

How do you put a cork back in a champagne bottle?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ask a Chelsea fan

 

Coat on!!

Ive just had a look at your last 3 games.....FOOK ME you've had worse run ins ay kids......think you might even catch the Yids!!!

Ive just had a look at your last 3 games.....FOOK ME you've had worse run ins ay kids......think you might even catch the Yids!!!

 

 

Fuck the Yids we will finish above yo men

Every team we play has somethin to play for they are not gunna be easy games we r no where near safe

Every team we play has somethin to play for they are not gunna be easy games we r no where near safe

 

First bit I agree with, although I think we will win both our home matches still because they are both shite. But the second bit , nowhere near safe?? So being 8 points clear of the 2nd and 3rd bottom clubs, with 3 games to go, them having to play eachother, both shite and another 4 clubs between us and them is nowhere near safe? Don't be silly.

First bit I agree with, although I think we will win both our home matches still because they are both shite. But the second bit , nowhere near safe??

 

Thanks for the translation service Eddie, I didn't know what he was on about. Now I do, I think I know where the 'mad' bit comes in.

 

Nowhere near safe? Fook me, where do we find em?