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West Ham United Face Administration Threat And Possible Relegation


In Friday’s British newspapers, The Guardian has the scoop that West Ham United’s Icelandic owner has just over two months to sell the club before his company, Hansa Holdings faces the possibility of being declared insolvent.

According to Guardian reporter Sachin Nakrani, “Interest has been shown but [West Ham owner Bjorgolfur] Gudmundsson, who bought the club for £85m in 2006, is struggling to finalise a deal having initially expected to raise £250m, a figure that is proving unrealistic in the current financial climate. This is something he needs to overcome by 6 March when, according to documents seen by the Guardian, court officials will reconvene in Reykjavik to decide if Hansa is in a position to repay its creditors, or has to be declared insolvent and subsequently stripped of its assets, including West Ham.”

If the worst possible scenario happens, West Ham would go into administration and receive an automatic nine point deduction by the Premier League pushing the Hammers perilously close to the relegation zone.

Now that we’re in the January transfer window, you can expect several West Ham players to be sold. Manager Gianfranco Zola has been told that he has to sell players before he can buy any, and it looks likely that Craig Bellamy may be one of the major players to go.

In other news, author and Guardian journalist Jonathan Wilson has written a wonderful article for The Financial Times about Herbert Chapman, “Football’s first modernist manager.” In it, he describes how the Arsenal and Huddersfield manager was instrumental in becoming the first modern manager who focused on formations and team tactics.

The Sun newspaper, meanwhile, is reporting that Aston Villa‘s Ashley Young and Gabriel Agbonlahor are both heading to the United States for speed-training sessions with Olympic gold medalist sprinter Michael Johnson, according to The Sun.

Lastly, the ever dependable Bill Turianski from has created a wonderful series of new maps to coincide with this weekend’s FA Cup matches. First, he has a photo gallery featuring Forest Green Rovers who’ll be facing Derby County at home this Saturday. Second, he has a map of England showing where the lower league clubs that are playing in the FA Cup this weekend are located in addition to stats on average attendances and more. To get the complete “picture,” read his entire article on the FA Cup.

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    1. power pendants

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    2. patrick

      January 2, 2009 at 4:33 pm


      don't need to dredge up the Tevez affair. West Ham and the Blades are in the process of a negotiated settlement, which is part of the buy package. The before mentioned paper reported that the number of 8 million has been talked about by both parties, the hold up is the sale…

      What annoys me about these sorts of posts is that the Gaffer pulls out chunks of the story. and the logic. a person who owns a 41% share isn't going to provide the full bail out of the bank with a sale of a personal asset… unless it will make him a LOT of money in the long run, it doesn't make sense. and lets not forget a few weeks ago it was by Christmas that West Ham would go into administration.

      also from the story “”It is very difficult to sell any football club right now, it is hard to maximise value,” the source said. “But Mr Gudmundsson will not accept an unsatisfactory amount, he is prepared to wait for the right offer to come along.” He also said Hansa had options for paying back creditors other than selling West Ham.”

      sounds to me like BG is hedging the sale of WHU to buy all of Landbankski. With Iceland already at rock bottom, there is nothing up up if you can survive the crisis.

      not to mention that if BG lets the Hammer go into administration his asset become real quick red ink and any hope of profiting on the crisis up in smoke.

      So to believe this stuff, you have to believe that the owner of the club, is as dumb as dirt.

      and yeah I don't think he'll get anywhere near 230 for the club, but 150 isn't out of the question and that is nearly double what he paid, and a nice way to grab some more shares of the bank…

      just sayin…

    3. Bishopville Red

      January 2, 2009 at 12:53 pm

      Parachute payments are one thing, but don't forget, each of the individual players ended up with a massive pay reduction because of relegation too.

      Either way the FA and Premiership need some blood on their hands over this too. They are the ones who OK players to play. It always takes months for the FA to sort out the smallest of things (see the battle of Stamford Bridge).

      For them to not realize Tevez was ineligible until after the season and Sheffield United made a stink is simply unacceptable. Both the FA and PL owe it to Sheff United AND West Ham to protect them from silly mistakes that turn onto £30 M disaster.

      If a player has to sit until his paperwork is authorized, so be it. Better safe than sorry.


    4. pint o' claret

      January 2, 2009 at 9:10 am

      in your dreams PaulieB, dodgy and made up figures put forward by Sheff (blame the world) Utd put pay to that, only they could 'forget' to include £15M of paracute payments

    5. PaulieB

      January 2, 2009 at 6:31 am

      Don't forget the additional issue here is the £30 million compensation package the Hammers have to pay Sheffield United over the Tevez affair.


      January 2, 2009 at 3:28 am


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