West Ham have reacted to today's (October 7th) news that Iceland's second-biggest bank has been placed into receivership by asserting that the move has no effect on the club.
Chairman Bjorgolfur Gudmundsson is a major shareholder in Landsbanki and was also chairman of the bank until being relieved of his duties today after a government bailout.
Fans have expressed concerns that the financial turmoil in Iceland could have an adverse effect on the Hammers, but the club has moved to dismiss those rumours.
One senior board member commented: "This is not affecting West Ham. One of Mr Gudmundsson's investments has gone bad, but he is still standing and has a lot of other investments."
Another member added: "West Ham is protected by Mr Gudmundsson. He has considerable personal wealth in a number of sectors, such as construction and shipping, and most of these assets and investments are overseas."
There were reports over the weekend which suggested that West Ham could be for sale, with Indian billionaire Anil Ambani apparently interested in bidding around £150 million to take control.
However, the second board member emphasised: "West Ham is definitely not for sale. Mr Gudmundsson is not looking to sell the club and he is as committed as ever."
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21 October 2010
21 October 2010
21 October 2010
20 October 2010
20 October 2010
