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Last Updated: Thursday, 16 November 2006, 19:34 GMT
Pardew keen for takeover decision
Alan Pardew
Pardew has had a difficult start to the season
West Ham United manager Alan Pardew wants a potential takeover of the London club to be quickly concluded.

Pardew has held talks with both the men trying to takeover West Ham - Icelandic businessman Eggert Magnusson as well as rival bidder Kia Joorabchianand.

"It's the uncertainty of it that is holding us back at the moment," Pardew said. "I just hope it is done quickly."

"I have to say I was enthused coming out of the Magnusson meeting, just as I was when I met Kia Joorabchian."

West Ham chairman Terence Brown reportedly wants 75m pounds for the club and Magnusson is believed to have the necessary funds to complete the deal, backed as he is by two wealthy businessmen.

Pardew added: "The two potential owners of the club both have sound views on what they want to do and I am all ears to that because I want to take this club forward and want to try and compete in the Champions League.

"That is some distance away from where we sit right now.

"But other clubs like Aston Villa have proved that when the takeover process has been finished it can push you forward quickly."

Magnusson's offer is backed by billionaire financier Bjorgolfur Gudmundsson, chairman of the Icelandic bank Landsbanki.


The bid from a rival consortium, fronted by Iranian-born Joorabchian, has so far failed to materialise.

That bid had been the front-runner, but the lack of an offer led Brown to meet Magnusson, who is head of the Icelandic FA and a member of the Uefa executive committee.

Magnusson is thought to have indicated that his consortium is prepared to pay 75m for the club, with most of it coming from equity rather than borrowed money, and would also take over the 23m debt.

He is also committed to providing money for new signings in the January transfer window and to keeping faith with under-pressure boss Pardew.

West Ham are two places above the relegation zone after enduring a difficult start to the season.

Magnusson has said he will step down from his positions with Uefa and the Icelandic FA if his takeover goes through.

Hammers 'takeover decision close'
30 Oct 06 |  West Ham Utd


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