Hammers owner ponders sale

17 December 2008 03:29
West Ham United owner Bjorgolfur Gudmundsson may opt to sell the club after receiving several provisional offers. According to court documents in Iceland filed by Gudmundsson's holding company, Hansa, the 67-year-old values West Ham at £250million. Vice-chairman Ausgier Fridgeirsson told BBC Sport: "This is part of the ongoing process of Mr Gudmundsson reviewing his assets. But he does not need to sell West Ham and still might not do." Gudmundsson's business empire has suffered a series of setbacks this year. Landsbanki, the Icelandic bank in which he was the biggest shareholder, went into receivership in October while Samson Holdings, the holding company for shares in Landsbanki, filed for bankruptcy last month. The Hammers' shirt sponsor, travel company XL, went bust a few weeks in to the season and the club may have to pay Sheffield United £30million in compensation after an independent tribunal ruled in favour of the Blades in the Carlos Tevez affair.

Source: ESA