Saturday, November 18, 2006

West Ham Changing Hands on Monday

The Independent are today reporting that West Ham will be sold on Monday to the consortium headed by Eggert Magnusson, although the story will not be officially released till later in the week. The paper are reporting this as fact and report in detail on the fine print of the deal, so it seems believable.

The take over is costing £97.5 million. Alan Pardew will remain as manager and be given a transfer kitty for January. Magnusson will become chairman. Terence Brown will be given an honorary role at the club, possibly club president, and the rest of the board are expected to continue serving as board members.

The Independent claims that Magnusson's consortium are buying 75% of the club's shares for £75 million and taking on the club's debt of £22.5 million.

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