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
FA, Premier League Officials Pulled into West Ham Takeover Speculation
The Telegraph, October 19th, 2006 4:15PM

MOST READ


It looks as though there may be a bidding war between Icelandic businessman Eggert Magnusson and Isreali real estate magnate Eli Papouchaldo for control of West Ham United Football Club. It seems that different high-ranking English soccer officials are supporting each of the bids, according to the Independent. Football Association Chairman Geoff Thompson is supporting the bid led by Magnusson, while Richard Caborn, the Premier League chairman as well as England's Minister for Sport, is understood to be backing the rival Israeli bid. Magnusson seeks Thompson's help in organizing a meeting with West Ham chairman Terry Brown, who has been keen on selling the club for quite some time. The two were to meet Thursday to discuss a possible takeover, although it is believed the Icelandic has yet to secure the necessary funds to complete the transaction, which is estimated at between $122 and $140 million. That the Icelandic bid relies on borrowed money is thought to make it less attractive to West Ham's board. Meanwhile, the Premier League's Caborn is said to be supporting Papouchaldo's bid because the Israeli wants to see West Ham move into the Olympic Stadium being built in East London for the 2012 Games. Caborn welcomes that idea, but is opposed by Ken Livingstone, London's mayor, who plans to have the 80,000-seat capacity stadium scaled down to 25,000 after the games, when it would become London's home for other sports, like track & field. Papouchaldo's bid is a money upfront deal, which the West Ham board favors. The Israeli is also believed to be a close business partner of Kia Joorabchian, the Iranian businessman who orchestrated the move of Carlos Tevez and Javier Mascherano to West Ham. 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
Reports: Messi Close to Barca Pay Raise    
According to reports in Spain, Lionel Messi is close to agreeing a contract extension with Barcelona ...
Scholes Named Man United Assistant Coach     
Paul Scholes on Wednesday was named as an assistant coach to interim Manchester United coach Ryan ...
FIFA Suspends Barca Transfer Sentence    
FIFA on Wednesday temporarily suspended the transfer ban handed to Barcelona for violating its rules regarding ...
Donovan on Moyes     
Landon Donovan on Wednesday sounded off on the news that Manchester United had fired head coach ...
Moyes Speaks Out About United Dismissal     
David Moyes on Wednesday broke his silence after being fired as head coach of Manchester United ...
Simeone: Atleti Tried to Score vs. Chelsea    
Diego Simeone said that in contrast to Chelsea, Atletico Madrid tried to score during the first ...
Mourinho Would Field Weakened Team at Anfield     
Jose Mourinho suggested that Chelsea might have given up on the Premier League title after the ...
Scolari turns criticism back onto the critics    
Brazil coach Luiz Felipe Scolari is shrugging off criticism of several players as tension and excitement ...
Qatar begins down-sizing World Cup plans    
Qatar plans to scale back plans for the World Cup it is scheduled to host in ...
German unions request leniency for late arrival during World Cup    
German union leaders want employers to show leniency towards their soccer-supporting workers by allowing them to ...
>> Section 2 Around the Net Archives