16 Mar 2009English consortium lines up Hammers bid

Football Clubs News | Football Finance News

An English consortium is eyeing a takeover bid for West Ham United and could make up to £100 million available to spend on the club, the Observer reported yesterday (March 15th).

The Hammers have reportedly agreed an out-of-court settlement worth around £25 million with Sheffield United over the Carlos Tevez illegal registration affair.

The deal is set to include a £10 million straight payment plus a five-year bond, but it is unclear whether this will prove a barrier to the English group, which is thought to be ready to hand boss Gianfranco Zola £30 million to spend on players.

Commenting on the news, vice-chairman Asgeir Fridgeirsson said: "We just continue the process we've been working on the last four months

"We're engaged in conversation with five and ten parties. We still don't have any binding offers. There is a growing interest."

The Hammers have stated that they do not believe the club will change hands until the summer at the earliest, with the five banks holding their debt key to any takeover deal.

West Ham currently sit in seventh place in the Premier League ahead of tonight's clash with West Brom at Upton Park.

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