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

MOST COMMENTED

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
Report: Demand Amps Up Ahead of El Clasico    
This Saturday's Clasico between Real Madrid and Barcelona, which regularly draws hundreds of millions of viewers ...
Ferguson: Moyes Didn't Inherit Declining Man United    
Alex Ferguson has updated his book My Autobiography to include a section about the short reign ...
Mourinho: Drogba Could Start vs. Man United     
Chelsea striker Loic Remy, who was substituted in the 13th-minute of Tuesday's 6-0 UEFA Champions League ...
Russia: Racism is a Global, Not Russian, Problem    
Russian Sports Minister Vitaly Mutko denied that his country has a particular problem with racism in ...
Robben Hails Bayern Tactics in Roma Thrashing    
Bayern Munich's 7-1 demolition of AS Roma at the Stadio Olimpico on Tuesday night-which broke the ...
Kompany: City, Not CSKA, Punished by Stadium Ban    
When UEFA slaps a stadium ban on a European club-as it has CSKA Moscow in the ...
Report: Raul to Join Cosmos This Week     
Former Real Madrid striker Raul Gonzalez on Tuesday reached an agreement to play for New York ...
Platini: Ballon d'Or Should Not Go to Ronaldo, Messi     
UEFA President Michel Platini believes the 2014 Ballon d'Or should not go to either Cristiano Ronaldo ...
Real's Bale, Ramos Miss Liverpool Clash    
Gareth Bale, Real Madrid's world record signing, and vice-captain Sergio Ramos are both out of Wednesday's ...
Ronaldo, Messi Could Break UCL Record This Week     
The world's two best players will have a chance to break Raul's UEFA Champions League goal ...
>> Section 2 Around the Net Archives