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Fridge: we're not selling (yet)

Filed: Tuesday, 7th October 2008
By: Staff Writer

West Ham United's vice-chairman Asgeir Fridgeirsson has said that the current board are not actively seeking to sell the club.

Speculation concerning United's future arose today after it was revealed that Icelandic bank Landsbanki has been placed in receivership - with all directors, including Hammers Chairman Bjorgolfur Gudmundsson fired as a result.

But Gudmundsson's number two has told The Sun that the chairman is not on the verge of selling up - despite speculation in the weekend's press concerning a purported 150million bid, which KUMB.com understands to have been from UK-based investors.

"It's an important investment but it's not his [Gudmundsson's] only one," Fridgeirsson said on Landsbanki's demise. "He has numerous other investments doing quite well.

"There is no reason to fear that he will not honour his commitment with West Ham. There's no reason for the fans to worry in any way. Mr Gudmundsson has already put 30million into the club.

"It might be a comfort to the fans of West Ham to say there is enormous interest in the club. But we are not actively in the process of selling."

Fridgeirsson also confirmed that the current board - should they still be here come January 2009 - are unlikely to invest in the playing squad in the next transfer window, adding:

"With a squad of 35 players, the money for further transfers would come from player sales. The club is standing strong, generating revenues and through transfer activity there is the chance for the club to develop further.

"He [Gudmundsson] is not going to take money out of the club - but this event has stopped his option of further investment this year."

Related News

   arrow   Hansa moratorium extended [13th Mar 2009]
   arrow   More woe for poor Bjor [19th Nov 2008]
   arrow   Fridge on rumours [7th Nov 2008]
   arrow   'No confidence' vote in board [31st Oct 2008]
   arrow   As he giveth, so shall he taketh away [8th Oct 2008]
   arrow   Fridge: we're not selling (yet) [7th Oct 2008]
   arrow   Pass the blame and don't blame me [9th Aug 2008]
   arrow   Eggy out [13th Dec 2007]

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by Tell it how it is Charley!
08:49AM 8th Oct 2008
''DON'T PANIC! The famous last words of the Captain of the Titanic!''

by g portugal
08:31AM 8th Oct 2008
''The statement that "we are not actively looking to sell the club at this time" tells you everything. Which is that as and when the right bid comes in, they will sell. I don't think it's imminent, but I do think it's only a matter of time. I share the concerns about relegation of Hugh Jargon, especially with Ashton now gone for the season which is why not getting anything from Bolton may prove costly. Makes the trip to Hull critical, considering how difficult the schedule is after that.

I think the loan signings, taking into account how last minute they were, are decent - Ilunga especially. I think we will be in a position to pick up one or two key players on loan in January, which will help but the sooner we reach 20 points the better. ''

by greg byrne
03:18AM 8th Oct 2008
''Can you really blame them? Brown didn't have this kind of stuff to deal with. I mean he's lost A LOT of money in the last month or so, on top of that there's the whole Tevez affair. I do wish they would tell the truth from the beginning though, as if we have to pay out 30mil, we wouldn't be shopping much in January anyways.''

by OzHammer
11:58PM 7th Oct 2008
''Why am I not surprised, this is typical of the West Ham luck over the last few years. We managed to get a massive investor to take the club forwards and it all turns to rubbish. We get a manager in and promise him funds then three weeks later turn round and tell him "Really sorry Fonzie, but remember when we said you could have 20 mill for players? Sorry."''

by simon purser
11:01PM 7th Oct 2008
''Hugh, don't be so negative. We have a squad of over 35 and that is not healthy, how do you coach such a large number? Reducing the squad will make coaching easier and we really do have some quality when fit. We have had a decent start although the Bolton game was disappointing we never seem to do well against them anyway. The teams that came up have started well but this is a long season and their squads are small soexpect them to tail off.

Fulham, Newcastle, Sunderland, Middlesbrough, Spurs and Bolton all have worse teams generally so I would expect safety by Xmas and a decent chance of atop 8 finish this year. Dyer, Collins and Ashton will come back by January whilst Mullins, Reid, LBM and Gabbidon will be sold as will Neill whose contract is coming to an end. I would also expect 3-4 other players to move on in line with bringing the squad to a more manageable 26-28. This would free perhaps 10m for a new player as the wage bill is also likely to drop 15m a year. ''

by peter gerard monaghan
07:14PM 7th Oct 2008
''Brown was bad but this mob is worse. I don't know about Spurs or the Geordies, we could go into administration which is ten times worse.''

by Fevs
04:22PM 7th Oct 2008
''This whole statement doesn't bode well with me at all. No 100% positive answers, except no more funds (which I can see his point). I guess this is how the game has moved on, as a business and nothing else.

Still... could be worse, could be Spurs or Newcastle ...''

by Hugh Jargon
03:12PM 7th Oct 2008
''No investment in players in January? Oh dear ... relegation battle this season then. ''

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