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
Former West Ham Chairman Magnusson Sues Current Owner
Associated Press, December 19th, 2008 2:31PM

MOST READ


"Business, always business," a murderous character known only as "The Greek" answers laconically at the end of the second series of HBO's "The Wire" when asked by an airline check-in assistant if he's travelling for business or pleasure. The phrase could increasingly apply to soccer -- it's less about the pleasure of the game, and more and more about wages, shares and bankruptcy (both financial and moral).

Which brings us to our next absurd story. Former West Ham United chairman Eggert Magnusson is suing current owner Bjorgolfur Gudmundsson over the terms of his exit from Upton Park last year. He wants $1.7 million from Gudmundsson, who is trying to offload the club after the world economic crisis hit his native Iceland particularly hard.

The two men bought the club together in 2006 through WH Holding Ltd. Magnusson was fired last year as chairman, and Gudmundsson took his partner's 5 percent stake. Magnusson claims he's owed three months of wages guaranteed after his contract was terminated. A Gudmundsson source says this is nothing to do with West Ham, but a personal dispute between the two men.

With West Ham still embroiled in a $50-million compensation dispute with Sheffield United, that's probably just as well. Gudmundsson, meanwhile, is optimistically hoping to offload the team for just under $400 million as its Icelandic holding company Hansa faces bankruptcy. West Ham will play Aston Villa in an English Premier League soccer game on Saturday.

 

 

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
Vice President Biden to Attend World Cup    
The World Cup trophy made its first stop in the United States on Monday as part ...
Beckham's Stadium Plan Runs into Opposition    
David Beckham's plan to build a waterfront stadium to house his new MLS franchise in PortMiami ...
Report: Reuters World Cup Poll is Misleading    
Goal.com has issued a firm rebuttal to the widely cited Reuters and Ipsos poll that stated ...
Guardiola Blames Rotation for Recent Losses    
Bayern Munich coach Pep Guardiola suggested that his heavy rotation policy could have been to blame ...
Report: Yankee Stadium Will Be NYCFC's Temporary Home    
New York City FC, the joint MLS venture of Manchester City and the New York Yankees, ...
Ronaldo to Miss Copa del Rey Final     
Real Madrid will be without 2013 Ballon d'Or winner Cristiano Ronaldo when it takes the field ...
Gerrard Emotional After City Win    
Steven Gerrard was close to tears following Liverpool's "emotional" 3-2 win against Manchester City on Sunday, ...
Bayern's 'Bad Day at the Office'     
Bayern Munich goalkeeper Manuel Neuer downplayed the significance of his team's 3-0 thumping at the hands ...
Diego Costa Injured While Scoring    
Diego Costa, Atletico Madrid's top scorer, injured himself while scoring Atletico's second goal during its 2-0 ...
Report: Brazil Not Ready to Host World Cup     
We're only two months ahead of the opening game of the 2014 World Cup, and Brazil ...
>> Section 2 Around the Net Archives