Consortium claim financial credibility
A POTENTIAL bidder for the club has revealed that they are a London-based consortium rather than an American one. Initial statements in the press suggested that the Intermarket group were from across the pond as all their statements had been made by Ameri
A POTENTIAL bidder for the club has revealed that they are a London-based consortium rather than an American one.
Initial statements in the press suggested that the Intermarket group were from across the pond as all their statements had been made by American investor John Bowe.
But company secretary David Byrne has gone on record to correct that assumption, and also to try and assure everyone they are a serious bidder for the club.
"We have definitely got the interested parties with the money needed to do what we need to do and get in some funding to stop West Ham having to sell players and make sure they can strengthen to be able to avoid relegation," said Byrne. "We are West Ham supporters and are deadly serious."
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On the surface it seems that the potential investors are there, although they have not had to show proof of funding yet, and have not entered into a period of due diligence, when they have satisfied the West Ham owners to the point they are allowed to study the books.
Intermarket seem to be conducting a lot of their business in the press and their supposed �100million valuation of West Ham, which includes all the club debt, is likely to be well short of an acceptable offer.
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Other potential investors are said to be gathering including former Birmingham City pair David Sullivan and David Gold.