Intermarket: we're serious players

The group linked with a takeover bid for West Ham United have claimed that a non-disclosure agreement has been signed with agents Rothschilds.

The Intermarket Group, who first announced their intentions to buy West Ham last month claim that a confidentiality agreement has been signed between the two parties after proof of funds were provided to the investment bankers, appointed recently by CB Holdings to investigate the possibility of a sale.

"Some people were dismissing us as not being serious bidders but we are," Intermarket company secretary David Byrne is quoted as saying in today's Telegraph. "We have satisfied them [Rothschilds] that we have proof of funds.

"We have definitely got the interested parties with the money needed to do what we need to do, and get in some funding to stop West Ham having to sell players and make sure they can strengthen to be able to avoid relegation."

Whilst the identities of those involved in Intermarket remains a closely-guarded secret - something that has led to the group's interest being viewed with a certain amount of scepticism - Byrne once again reiterated an earlier statement in which it was claimed the backers were all wealthy Hammers fans.

"[We're] a group of investors from institutional level down to high net-worth individuals," added Byrne. "We are West Ham supporters and are deadly serious - and we believe we have satisfied Rothschilds that we are serious.

"This has been portrayed as an American bid but that's not the case. The Intermarket Group is London based."

Intermarket are said to be keen to cut a deal before December 11th, when a Straumur creditor's meeting could potentially force the sale of the club (to either Intermarket ore one of a number of other parties said to be interested).

However it is also not beyond the realms of possibility that Straumur, who are under increasing pressure from within Iceland could pass ownership of the club on in order to appease their own creditors.