WSC DAILY
March 2008
Getting hammered | Getting hammered |
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West Ham spent heavily in a bid to stay up last season and splashed out again in the summer – ex-Arsenal man Freddie Ljungberg for example is being paid £80,000 a week. It's fair to assume that Bjorgolfur Gudmundsson, who owns a bank in his native Iceland, has not got involved with West Ham for philanthropic reasons. He may still hope to move the club into the Olympic Stadium after 2012 with Upton Park being sold for redevelopment. In the meantime, like most of the other Premier League franchise owners, he expects the club to qualify for Europe regularly – but to even get close to the top six will require a lot more investment next season.
Meanwhile, a transfer deal that Gudmundsson's predecesor, Terence Brown, conducted with the mysterious international corporation MSI may yet have serious repercussions. Carlos Tevez was able to play an important role in helping West Ham avoid relegation last season because the club assured the Premier League that they had bought out the portion of his contract owned by MSI. The latter's representative, Kia Joorabchian, is now going to court to contest this claim. Failure to win the case will leave West Ham open to further action by their relegation rivals of last season, Sheffield Utd, who lost £30 million as a consequence of dropping out of the Premier League.
While this season ceased to be meaningful for West Ham's players as soon as they were knocked out of the cups, it would make obvious sense to give the current manager more time to build his own team. But sense is in increasingly short supply among football club owners in 2008.
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