US TYCOON IN £100M BID TO BUY WEST HAM
Consortium bid to take over Hammers
AN American consortium has launched a £100million to bid to buy troubled West Ham.
The London-based Intermarket Group began negotiations on Friday night and are confident of landing the club in time to hand boss Gianfranco Zola a substantial budget for the January transfer window.
The multinational consortium is made up of wealthy West Ham fans and is led by Intermarket Group chief executive and Wall Street mogul, Jim Bowe.
Bowe is the former head of the New York Board of Trade and is a hugely successful businessman in his own right.
He was recruited specifically to oversee the deal and the group made contact with Andrew Bernhardt, chairman of CB Holdings, the company that runs West Ham.
The bid is being prepared in New York and Bowe said: "My colleagues and I have been approached by the consortium with the aim of buying West Ham in its entirety.
"We are not interested in just taking on the debt, or securing a percentage. We want to get West Ham back on track for the upper echelons of the Premier League.
"We want what the fans want and there is no restriction on us as to how we achieve that aim. We are in the early stages of our discussions with the club. But we are optimistic that we can develop a proposal that will benefit all parties. The best deal is the deal where everyone feels that they've won.
"The consortium comprises West Ham supporters who have made serious money in the City, the United States and elsewhere and who see the potential in the club, its fanbase, academy and playing staff.
"The people involved have the money required, and, more importantly, the right sentiments. They have no interest in interfering with the playing side of things, but they will make money available in the January transfer window.
"They also possess the expertise to see West Ham restructured and organised in a way that will help the club realise its potential. Fortune has been hiding for too long."
A successful bid would bring to an end The Irons tale of woe which has seen the club taken to the brink of administration in the last 18 months after the Icelandic owners suffered in the credit crunch.
Former Birmingham City owners David Sullivan and David Gold made a tentative approach but are looking to get the Hammers on the cheap. Bowe and his consortium have made it clear they are willing to reach a quick agreement to bring back some stability.
A source close to the group said: "Jim is aware there are other people in the market to buy West Ham but Intermarket want to push a deal through as quickly as possible.
"They believe it's vital Gianfranco is given as much support as possible and then be given the appropriate funds to bring in some quality players.These are West Ham fans, people who've had the club at heart for a long time. They want to do something before it's too late."
Premier League
Championship
League 1
League 2
FA Cup
Carling Cup
EUROPE Champions Lge
Europa League
INTERNATIONAL England
World Cup
MATCH CENTRE Live scores
Fixtures
Results
Tables
CLUB PAGES Team-by-team
COMMENT
Andy Dunn
Rob Shepherd
Paul Ince
IN-OFF
Transfer news
DREAM TEAM
Fantasy football
EMAIL ALERTS
Free updates
This article has 42 comments
Please Dear Lord, may West Ham be sold soon - by Dec 2009 latest - to a competent business consortium with a plan and a funding plan to steer West Ham out of debt and back into the black.
This would seem to be the main need for WHU to avoid the disaster of relegation at the close of this 2009 - 2010 season.
May the Lord God bless our efforts to cling to our EPL status at the close of this season in May 2010.
Forever blowing bubbles - hoping to do so during our productive run that begins immediately!
By tim hine. Posted October 19 2009 at 10:01 PM.
Please bring in new owners soon who are actual Hammers supporters and, I agree with the others, enough of the Brescia, Serie B players and the dodgy haircuts.
More of the likes of homegrown talents like Mark Noble, Junior Stanislas.
C'mon You Irons!
Dave, sufferring in Seattle, USA
By David. Posted October 19 2009 at 7:01 PM.
Great to see Jim The Deal Maker back in harness.
By Francis McInerney. Posted October 19 2009 at 3:30 PM.
There has never yet been a takeover by a consortium of fans at any major British club. It is a lovely idea but the fact that it has never happened must surely suggest it is fundamentally unworkable. I won't be getting my hopes up!
By goatero. Posted October 19 2009 at 7:13 AM.
Well whether it's true or not what a great way to show the other 19 clubs in the premier league that true fans, running their own club, and playing the cultured football that ONLY West Ham can, can be a beacon for the game, look this is football a working class game. It is OUR GAME we've given up the Docklands lets keep a Strong Hammers, and lets have Green Street with some crossed hammers in the pavement!!
By Peter in France. Posted October 19 2009 at 4:41 AM.
west ham is a joke, they will never be a top club... NEVER! CFC 4 life
By jay. Posted October 18 2009 at 11:20 PM.
at 51 years of age I have been a hammers fan all my life. After all the storys of poss buyers for West Ham United I hope this one is true.
If the club is supported in the way this consortium of Hammer fans propose West ham could be a top four club.
We have a good team of players and staff.The best academy in the country. No other team have produced more England players than West Ham and for that not to continue would be a loss to English football.
I look forward to the future of West Ham with New hope.
By Colin Eastwick. Posted October 18 2009 at 9:50 PM.
So another story for all of us faithful to hang some hope upon!! I along with thousands of other long suffering West Ham fanatics just pray that this will go through and be right for the club. Daily i have to put up with all of these "Fashion Fans" you know who i mean, the Chelsea, Arsenal and Tottenham so called "supporters" those that wear their replica shirts, rather than follow their club through thick and thin. Well I wear my hammers tatoo'd loud and proud on my right arm for all to see win or lose and I would happily put my thousands of savings to the cause
By Smigger from Grays. Posted October 18 2009 at 9:22 PM.
i hope this news is true if something is not done soon we will get relegated this season. West ham have a big fan base that have been suffering for too long we need this big investment.
By martin youngman. Posted October 18 2009 at 8:06 PM.
Like alot of people who have made comments, I really hope this comes off. People with money and West Ham fans.
Our pre season was poor and with have not made any progress, I have been a hammers all my life and it breaks my heart nearly every weekend to be on the losing end of teams like Stoke.
I pary this comes off and we can climb the table. never mind Europe, top half the table and not looking over our shoulder would be great.
there are so many true fans out there that deserve a bit of success and not just promises of improve next week.
keeping my fingers crossed
By Andy Gilbert. Posted October 18 2009 at 8:41 PM.
iv,e been a fan from the age of 10,now 52.i like many of you on this post love the hammers.when iam at the grund singing bubbles i have a lump in my throat.i do hope this is not another pie in the sky,lets sell a few more ccopys story.we the fans deserve better.zola and clarke,deserve better.players come and go,thats the way.the fans are the only ones who remain.so lets hope if we are taken over the new owners are real fans.and are in for the long haul,cos its going to be a long haul.
By del boy. Posted October 18 2009 at 8:38 PM.
Hope it's true but would'nt be gone on consortiums, they tend to disagree.
Need to get some results fast. We're losing matches we were winning last season.
Moving forward I'm afraid we're not.
Zola though must be backed.
By mayo hammer. Posted October 18 2009 at 8:21 PM.
I can't believe that some people have put that we needed tio get people like Tuncay and Huth at the club - get real.
Zola has taken the squad in the right direction with what he's got to spend, though decisions to keep going for Italian-based players seems to have cost us dear with certain players sold after only a season or so.
Zola has the right idea's, he just needs a bit of cash and I hope that this report is true. We have some great talent coming through the ranks with Collison, Noble, Stanislas etc. but we need a steady hand now and financial security. If this falls through we could be in some serious poo and the fans deserve better than taht.
By PY The Hammer. Posted October 18 2009 at 5:42 PM.
The issue is even if it happens is there enough time to turn things around. Just look at what has to be off loaded Dean Ashton, Carlton Cole, Boa Morte, Kieron Dyer. That means that if they take the same approach as Lundberg the investment would ahve to close to £200m and then money to buy players. I agree new ownsers, and let the manager pick the players he wants to play for him. After all its the manager that gets fired not Duxbury or Nani.
Ken P
By ken P. Posted October 18 2009 at 5:02 PM.
west ham more than any club in the country deserve a break. we just need time and money to develop the academy and keep afloat. this country needs a strong west ham to provid the quality international players that are the backbone of the present england squad. with cash behind us we can not only bring through the youngsters but also hang on to player such as upson, cole, noble,bahrami, parker, illunga. what we dont need is the serie b has beens such as di michaelli, tristan and jiminis. grid iron
By george. Posted October 18 2009 at 4:30 PM.
Eventually we will see every team in the Premiership backed by a billionaire, all paying astronomical wages to players that can't even pass the ball let alone hit the back of the net. After watching the finest England has to offer continually lose the ball against the minnows of World football I find it hard to accept that they deserve their pay packets. I can see a time when 14 chairmen get together and change the rules to exclude relegation, why would they invest millions to see their plaything demoted when all it takes is a little bit of voting to keep them in the top league.
Oh for a return to the late 60's when a team stayed at the top because of nurturing talent rather than just buying it. Moore, Peters, Redknapp, Lampard and Hurst of the 60's would have been Joe Cole, Lampard, Ferdinand, Johnson and Defoe today. Yes, there were transfers in the old days but nothing like the swinging door policy we see today.
By Chelsea Fan. Posted October 18 2009 at 3:59 PM.
Finally a group of wealthy true West Ham fans bringing back life to the club. PTL!
By Reynell5. Posted October 18 2009 at 2:59 PM.
I cant see this takeover bid happening we need some Arab money to save us now. Zola has got understanding on how to bring in quality players. Players like Tuncuy & Huth were available but he went for the likes of Kovac Diamanti & Franco. The future is looking grim for us & if we dont sort it out soon? I can see up ending up like Leeds Utd or Worse Southhampton.
By Haedar Ali. Posted October 18 2009 at 2:24 PM.
I'm a Hammer fan 7000 miles away and I only pray it's true for the faithful down at UptonPark,something must happen by January as the the slippery slope to the Championship and worse beckons.
Thailand Ted
By Ted. Posted October 18 2009 at 2:19 PM.
It's worth 5k of my hard earned shekkels. We only need another 20,000 investors and the club could be ours! I am sure we could tempt back Joey, Yossi n Ginge and a couple of ambitious young strikers from the championship.
By Reverend Doug. Posted October 18 2009 at 1:49 PM.
Zola and Clarkie are a team made in heaven and given the right resouces and support could turn the irons into a good premiership side. It has gutted me over the last few months having to watch them in their weekly interviews looking totally deflated and frustrated by events off the pitch, mainly caused by those leeches Duxbury and Nani.
If this takeover happens, at least the club would be run by claret and blue fans with the desire and resources to get it off it's knees. Make no mistake, if something like this doesn't happen soon, we will lose Zola and Clarke before too long, everyone has their breaking point!
By Ever Hopeful.. Posted October 18 2009 at 12:43 PM.
It's about time that the club was taken over by someone who cares about it. West Ham have always had more than just the potential. You only have to look at the complete mismanagement, and more importantly the players we've sold down the years, to our detriment.
I'm happy for those who turn up every saturday...
By David Smith. Posted October 18 2009 at 12:23 PM.
desperate to see Gianfranco given a real chance to show what he can. Come on Jim and other true supporters the club needs you..
By phil w. Posted October 18 2009 at 11:59 AM.
Finally there is some positive hope in the air ! I hope it is true. Does anyone know how a West Ham Supporter can get involved with the group ? With all the global and world wide support West Ham have there should lots of financially well off fans who can and want to help out.
By zoff. Posted October 18 2009 at 11:47 AM.
For too many years we have sold to survive, Lampard, Cole ,Johnson, Carrick, Kanoute and Defoe to name a few. Living in Scotland i can only watch the irons when they play in the North East, it does hurt to see the club i love in this position and to see the stress it has on Zola,I agree its time to stop bringing in Serie B players but what option does Zola have,if this bid is true lets hope its in the best interest of the club and we can challenge at the top.
Forever Blowing Bubbles.
By Kaylay. Posted October 18 2009 at 11:44 AM.
i hope and pray to god that the news that i received this morning in the news of the world that we will have true claret and blue to run our club. i was born in west ham but now live in barnsley south yorkshire and west ham will always be in my blood and i wear my shirt with pride weather we win or lose. i love my club so much that it hurts to what is happening to it. we should not be at the bottom but you mark my words that if the club is baught then wath us go and let zola bring in his own players and get rid of nani and duxbury. come on u hammers cos i love ya always
By brian colin osbourn. Posted October 18 2009 at 11:25 AM.
hammers in spain
i watch every game live on satellite tv in spain and this news is the best thing to happen to a great club with a fan base which will turn up no matter if we were top of the table or bottom. we must buy another top striker and 2 players that can link the play between midfield and attack we are only a couple of players away from a very good side.
come on you irons
By john hicks. Posted October 18 2009 at 10:45 AM.
is there any way ordinary fans can be share holders as this is a fans takeover - i would bbe delighted to invest 500-1000
i hope this is true
By Charlie Byron-Grange . Posted October 18 2009 at 10:52 AM.
Please let this be true, West Ham United fans with real ambition not making pie in the sky promise's about champions league just sensible lets get some stability back into the club and move the club forward gradually.
WEST HAN UTD TILL I DIE!
By Wrathchild. Posted October 18 2009 at 10:18 AM.
Can't see it happening to be honest. £100m to clear of the debt and, say £50m to improve the club. For one mega-owner, sure but how would his work for a group of individuals?
You might put in say £10m but this would be swallowed up and you would be left with little say in the running of the club and a share in a loss-making business. Any more than 2 joint-owners and it won't happen.
By goatero. Posted October 18 2009 at 9:29 AM.
The chance to have people with west ham in thier hearts and a plan and money to turn the club around is too good to turn down. It saddens me, the players that have been sold and allowing the dream to fade and die.Like all true football fans,we carry our club deep in our hearts, we bleed claret and blue ,I pray that this is the beginning and with it duxbury and nani leave their keys at the upton gates on their swift departure
By johnmac. Posted October 18 2009 at 9:20 AM.
Michael
I don't think West Ham are out to win the PL or even make the top four. They just need to survive as a football club that once had a great playing reputation and a lot of respect. Sadly this now seems to have gone due to various vultures in the last 5 years or so.
They need some decent backing to give some stability and help put them back where they belong.
By Phil. Posted October 18 2009 at 9:15 AM.
Given the right funding, Zola and Clarkie would take us up the division. They have had to run the club on a shoe string budget and not once used it when we have lost.
Go on you Irons!!!
By Jason Winser. Posted October 18 2009 at 8:25 AM.
As a man City fan I really hope that this comes off for West Ham and theit supporters...
I have always likened the hammers to City as play play good football and have the same loyal supporters that desearve better...
It would be great to see City and West Ham up there instead of Utd and Chelsea.......
Good Luck the Hammers...
Yashin Manchester
By Yashin. Posted October 18 2009 at 8:22 AM.
i as every has said hope this comes off im fed up of seccond rate players from the italian league that zola has had to get in because there is no funds i hope if this group takes over that they listen to us west ham fans and get rid of nani and get someone in who will look for good british players look at leeds the players they got in that division (beckford,howsen,johnson,snodgrass) good players who would do well in premiership there was a time when west ham would of took players like this snapped them up and made them better but now we look abroad and thats not the claret and blue way lower division or through the academy to first team to wearing your country shirt that west ham not quick flight from abroad and dont forget to pack your hairdryer
By Ryan. Posted October 18 2009 at 7:17 AM.
So, now we have almost 20 teams in the premier league, all wih billionaires, So what happens when 19 teams don't win the premier league? the Premier league is dying slowly, especially when they pull their money out of the teams.
By Michael. Posted October 18 2009 at 7:04 AM.
i hope to god this is true,i was born and bred 2 streets away from upton park,i bleed claret and blue,west ham have for too long been a selling club,look at the players we have sold over the years,lampard,cole,johnson,ferdinand the list goes on,money does not buy success,but without investment ruins a club as well.
come on you irons!!!!!!!!!!
By paul harvey. Posted October 18 2009 at 4:59 AM.
I hope these guys do the deal, and soon!
By Stew. Posted October 18 2009 at 4:34 AM.
we need some 1 in with money who will support manger and give hin funds instead of making him sell after 2days results i cant see zola making it till monday if he is sacked i want di-canio and dicks lol some 1 who bleeds claret and blue
By brian london. Posted October 18 2009 at 4:00 AM.
i hope this is true. West Ham fans , smart, rich consortium...get in there. I dont want Sullivan and Gold to suck what is left of the Irons dry.
By Paul. Posted October 18 2009 at 1:17 AM.
Please, at last an owner that's not a complete mug.....
By Kingston Hammer. Posted October 18 2009 at 12:48 AM.
Please God let this be true.
We desperately need rid of the current owners, Duxbury & Nani and let Zola control who comes in and who goes outof the club. Selling experienced Premiership players and bringing in second rate Serie B players who can't even get a game at their previous clubs is only going to send West Ham one way.
We've suffered enough!!
By Miss JJ. Posted October 18 2009 at 12:00 AM.