Page last updated at 12:34 GMT, Wednesday, 30 December 2009

West Ham is bid target for Intermarket

West Ham's Alessandro Diamanti
West Ham are currently fighting relegation

London-based financial company Intermarket has confirmed that it will make a takeover bid for West Ham.

The bid is expected on Monday, according to the Daily Telegraph, and is believed to value the club at £100m.

However, that includes estimating West Ham's debts at £48m, whereas the club's owners CB Holding insist they are closer to £38m.

Earlier this month, ex-Birmingham City owners David Sullivan and David Gold also tabled an offer for West Ham.

A spokesman for Intermarket said he could not reveal any further details as the company had signed a non-disclosure agreement with Rothschild, the bank appointed by CB Holding to canvas potential investors.

The main shareholder in CB Holding is Icelandic bank Straumur, who has said that it is in no hurry to sell the club.

Straumur has had its debt payments frozen until September 2010. If that had not happened, it would have been forced to sell off its assets, including West Ham.

West Ham are currently 17th in the Premier League, just one place above the relegation zone.



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