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Hammers deal edges closer
20 Nov 2006 - 12:50:55
West Ham United's long-running takeover saga could finally come to an end this week as an Icelandic consortium is reported to be close to agreeing a deal with the club's current owners.
Eggert Magnusson, the president of the Icelandic FA, met Hammers chairman Terry Brown over the weekend, and moved closer to an agreement.
It is reported that Magnusson will offer £75million for the club as well as taking on the Premiership strugglers' debt of over £22million.
The consortium's main backer is billionaire financier Bjorgolfur Gudmundsson, who is chairman of the Icelandic bank Landsbanki.
It is believed that if Magnusson's takeover is successful, Argentinian duo Carlos Tevez and Javier Mascherano will leave Upton Park in the January transfer window.
They were brought to the club by Iranian-born Kia Joorabchian, who launched what appears to have been an unsuccessful takeover bid for the Hammers.
Tevez has failed to score in nine appearances for Alan Pardew's side while Mascherano has started only three Premiership games for the club.