Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
Joorabchian Receives Backing in West Ham Takeover Bid
The Independent, September 22nd, 2006 3:55PM

MOST READ

MOST COMMENTED

Anglo-Iranian businessman Kia Joorabchian, who helped orchestrate the transfer of Carlos Tevez and Javier Mascherano from Corinthians in Brazil to West Ham United in England, has found the backer he needs to help finance a full takeover of the English club. Israeli businessman Eli Papoushado confirmed yesterday that he wanted to join the consortium led by the Iranian that could fund the $190 million takeover of West Ham. "After considerable thought, I have agreed to participate if Kia decides to go forward with any such project," Papoushado, a real estate magnate, said in a statement. To successfully take over West Ham, Joorabchian and Co. would have to come up with $133 million to buy the club's shares and $57 million to clear its debt. Added Papoushado: "I would like to confirm that I will not be taking part in any management but will be solely an investor. This statement does not suggest that there will or will not be a project in the near future, just a clarification of reports about my involvement as a potential investor with Mr. Kia Joorabchian." Papoushado is basically saying he's willing to back Joorabchian in any of his soccer investments, which may or may not include the acquisition of West Ham. A possible takeover raises speculation that things could change quickly at West Ham. Manager Alan Pardew, for one, would leave, as he has repeatedly said that he would not allow the arrival of Argentine stars Tevez and Mascherano to influence his decisions as a manager. During his time at Media Sports Investment, Joorabchian was rumored to have interfered in team matters and in the dressing room at Corinthians, which is owned by MSI. To gain control of West Ham, Joorabchian would effectively have to buy out West ham's three largest shareholders, who collectively own 70 percent of the club's shares. Read the original story...


No comments yet.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
Orlando City Signs Shea     
New MLS club Orlando City on Friday announced the signing of U.S. national team midfielder Brek ...
Report: Juve Eyes January Move for Falcao     
According to Italian soccer site Calciomercato, Manchester United may consider getting second-choice striker Radamel Falcao's huge ...
Reus Fined $665K for Driving without a License    
Borussia Dortmund forward Marco Reus has been handed one of the biggest driving fines in German ...
Balotelli Receives One-Game Ban, Fine for Instagram Post    
Mario Balotelli received a one game ban and a fine of 25,000 pounds after being found ...
Robbie Rogers: FIFA 'Insane' to Host World Cup in Russia, Qatar    
LA Galaxy left back Robbie Rogers has spoken out about FIFA's decision to stage the next ...
FIFA to Publish World Cup Corruption Report    
FIFA's executive committee on Friday agreed unanimously to publish Michael Garcia's report into the bidding process ...
FIFA: Qatar Needs Labor Reform to Keep 2022 World Cup    
FIFA executive committee member Theo Zwanziger on Tuesday indicated that 2022 World Cup host Qatar must ...
CWC: Auckland City the 'Winner,' but San Lorenzo Progresses     
Real Madrid's will face San Lorenzo of Argentina in Saturday's Club World Cup final after the ...
Di Maria Beats Messi, Aguero to Argentina's Player of the Year    
Manchester United winger Angel Di Maria has beaten Lionel Messi and Sergio Aguero to Argentina's player ...
League Cup: Rodgers Defends Sterling as Reds March On     
Following Liverpool's 3-1 League Cup quarterfinal win at Bournemouth, Coach Brendan Rodgers defended two-goal hero Raheem ...
>> Section 2 Around the Net Archives