Monday, September 11, 2006

Take Over Talks

The Telegraph today carries an interview with Kia Joorabchian and names his potential Israeli investor as property magnate Eli Papouchado. An associate of Popouchado has claimed that the businessman is only interested in the Hammers as an investment, saying, "He wouldn't know West Ham from West Brom."

Part of the interview with Joorabchian includes an interesting biography of his business career. Most relevant is his take over of Brazilian side Corinthians. At first Joorabchian reversed the flow of top players departing the club. He bought Tevez and Mascherano, after which the club's attendances soared. He also boosted sponsorship contracts. In only his second season, Corinthians won the domestic championship.

However since then the club has been hit by boardroom rows, seven managers have come and gone and the club have faced an investigation into possible money laundering. Joorabachian has now quit MSI, and therefore Corinthians taking with him their most valuable assets Tevez and Mascherano.

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