Tuesday, October 03, 2006

West Ham Deal Near to Collapsing

According to today's Independent the takeover bid being fronted by Kia Joorabchian is struggling to raise the money to buy out West Ham. The paper claims that a price of £70m had been agreed but that the Iranian businessman may not be able to raise the funds.

West Ham have a scheduled board meeting tomorrow at which it is believed the board will issue Joorabchian with an ultimatum to come forward with the cash immediately or drop his interest. Sources are "99 per cent sure" he will be unable to go through with the deal and that the situation will become clear by Thursday.

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