West Ham Owner In Financial Trouble

West Ham owner Bjorgofur Gudmundsson’s company is allegedly in danger of bankruptcy.

In the midst of the economic turmoil that has hit Iceland especially hard Samson Holdings, Gudmundsson’s main business interest in his native country, is reportedly facing severe economic hardship, raising the possibility that West Ham could be on the verge of getting a new owner.

Gudmundsson bought the football club for £85 million and has invested another £30 million. Although he has denied claims that he will sell, reports have suggested Zabeel Investments, headed by Dubai mogul Sheikh Hamdan Al Maktoum, had started looking into buying the club. However, these claims were rejected last month.

This comes as yet another financial blow to West Ham, as their shirt sponsor, travel company XL, collapsed in September. The club is still seeking a new £4m-a-year shirt sponsorship deal.