Magnusson eyes new stadium

21 November 2006 09:51
Egget Magnusson has not ruled out the prospect of moving West Ham United from Upton Park to the Olympic Stadium after having his takeover bid for the Premiership club accepted. An Icelandic consortium headed by Magnusson and backed by billionaire financier Bjorgolfur Gudmundsson, who is the chairman of Icelandic bank Landsbanki, had their £85million offer for the Hammers accepted on Tuesday. Magnusson said in a statement on the club's official website: "I'm both delighted and honoured that Terry Brown and his colleagues wish to support our offer for West Ham United. "We can now end the uncertainty of recent weeks and move forward into the next phase of development of this great club, with Alan Pardew leading our efforts on the pitch. "This change of ownership comes at a very important time in the history of the club. Terry Brown and his fellow directors have done a great job in recent years strengthening the club's foundations - I want to build on that, ensure continuity in the running of the club and help West Ham move to a new era. "In terms of the club's location, we are buying what we see, which is West Ham United at Upton Park. "However, if there is an opportunity to discuss a long-term move to the Olympic Stadium I would like to explore that, recognising that there will also need to be an athletics legacy from the London 2012 Olympic Games. "I will also be continuing talks with Alan Pardew on how he sees the future on the playing side. This is very much his domain and he has my full confidence and support. "He already knows that funds will be made available for the January transfer window but we need to discuss his needs and the investment that might be required to strengthen the squad."

Source: ESA