Bidders gather for West Ham takeover
WEST HAM owners CB Holding may still be insisting that they do not have to sell the football club, but it seems that the potential investors are getting ready to reveal their hands. While former Birmingham City owners David Gold and David Sullivan remain
WEST HAM owners CB Holding may still be insisting that they do not have to sell the football club, but it seems that the potential investors are getting ready to reveal their hands.
While former Birmingham City owners David Gold and David Sullivan remain the front-runners having already put a �50million bid on the table, it appears that the dark horses to takeover are about to make a move.
The London-based Intermarket Group have gathered together a consortium and they are ready to make a bid for control of the club on Monday.
David Byrne, co-founder of the real estate development and management consulting company, confirmed that a bid will be made at the beginning of the week, and that they were bound by a non-disclosure agreement with Roths-child Bank - who have been employed to gather potential investors - from revealing any details.
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Byrne and Intermarket appear to be the least known of the potential investors at Upton Park.
When they first came on the scene they were headed up by American businessman Jim Bowe, who seemed to conduct much of his business through the media.
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But Intermarket were quick to move away from Bowe and make it clear that they were a London-based company with West Ham supporters included among their backers.
Their bid is believed to estimate the club's worth at around �100million, including the debt, and if the deal went through it would give CB Holding's major shareholder - Straumur - around �30million.
That may not be enough for the Icelanders, but it would still be more than Gold and Sullivan - who were at Upton Park on Boxing Day - were offering.
The other current potential investor - Air Asia owner Tony Fernandes - was also there on Boxing Day, although he has distanced himself from making a bid at this time as he is busy financing the return of Lotus to Formula One.