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West Ham United sold to asset group

LONDON (AFP) – English Premier League side West Ham United announced Monday they’d been sold to an asset management group where the majority stake is held by an Icelandic bank.

The London side hope the deal, worth a reported 100 million pounds (158 million dollars), with CB Holding will secure their financial future.

This was in doubt after previous owner and chairman Bjorgolfur Gudmundsson saw much of his personal fortune wiped out as a result of the Icelandic banking crisis caused by the global credit crunch.

Gudmundsson and vice-chairman Asgeir Fridgeirsson have both left the club.

The majority stake in CB Holding is owned by Straumur-Burdaras, an Icelandic-based investment bank.

West Ham’s new non-executive chairman will be Andrew Bernhardt, a senior director with Straumur Bank.

Bernhardt told the club’s website: “I can assure fans we will sanction investment in new players, but all within the parameters of sensible budgeting.”

He added he foresaw no need to change the club’s manager Gianfranco Zola, after the former Italy striker guided the Hammers to a creditable ninth place in the Premier League last season, or its chief executive, Scott Duxbury.

“CB Holding has no intention of changing the executive management or direction of this club,” Bernhardt said.

“It will be my job to help facilitate this continued process on the pitch, while ensuring the club’s success is built on a strong financial footing.

“We have an initial two-year plan which includes improving the infrastructure at the club and we will be getting to work on this as soon as the new board is appointed.”

Gudmonsson also told the club’s website: “As my fortunes have changes I now have to withdraw from the board of directors. I do that with a great regret but I am convinced that this change of ownership and control will advance the club in the present circumstances.”

CB Holding was, the BBC reported, set up by the creditors of Hansa, West Ham’s holding company.

Tags: Andrew Bernhardt, asset group, asset management group, banking crisis, bernhardt, change of ownership, duxbury, English Premier League, executive chairman, executive management, financial future, global credit crunch, Hansa, holding company, investment bank, Italy, london, majority stake, personal fortune, Scott Duxbury, vice chairman, west ham, west ham united, Zola

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Chelsea´s Hiddink plans to take fight to Barcelona

LONDON (AFP) – Guus Hiddink has vowed to carry the fight to Barcelona in this week’s Champions League semi-finals as he steels himself for his biggest test as Chelsea’s interim manager.

The Dutchman believes it would be suicidal to sit back and try to contain the La Liga side’s vast array of attacking talents, even though the Blues have the advantage of playing the second leg at Stamford Bridge eight days later.

Instead, he has urged them to pose their own problems against a side whose defence is far from watertight.

“It is a huge clash against the best team in Europe, possibly the world,” said Hiddink, after Chelsea’s 1-0 victory over West Ham on Saturday.

“But we should not go there and drop back, wait and wait until the storm is coming.

“We must take what is in our team and do some harm as well. That is always our intention in big games. If we wait, we will have problems.”

Hiddink didn’t learn much from his team’s scrappy win at Upton Park on Saturday, although it did underline a few well-known facts.

They are that few sides are more adept than Chelsea at churning out victories, while significantly short of their best, that Frank Lampard is the undisputed heartbeat of the team; and Petr Cech, whose second-half penalty save from Mark Noble preserved the lead, has rebuilt his confidence.

Hiddink refused to even read much into the steady performance delivered by Jose Bosingwa at left-back.

The Portuguese had been redeployed from his favoured right flank to prepare him for the task of subduing Lionel Messi at the Nou Camp, where Ashley Cole is suspended, but West Ham winger Luis Boa Morte hardly stretched him before he was taken off mid-way through the second half.

“It’s hard to compare West Ham and Barcelona,” Hiddink said, not unreasonably.

“It’s hard as Messi is one of the best players in terms of efficiency and the beautiful football he plays. It’s a big challenge for Jose but it will be good if he can neutralise him. He’s confident.”

The same applies to Lampard. The England midfielder has been Chelsea’s best performer this season and he was quietly impressive again at West Ham, where he graduated from the academy only to commit the cardinal sin of quitting for Stamford Bridge in 2001.

He was baited with tedious predictability by the home fans but, once again, shrugged off the insults to deliver a stand-out performance.

He also set up the winning goal, charging to the by-line and chipping to the back post, where Salomon Kalou poked home, and then seemed to be the target of objects thrown by the crowd during his celebrations.

“I rested some players but I didn’t suggest that to Frank, I didn’t even talk to him,” Hiddink said. “He would have looked at me as if to say: ‘Why are you doing that?’

“These guys with big personalities, they want to play every game. Maybe some time in the near future I will have to tell him he’s not going to play, but I will not be able to look at him if I do.”

Victory kept alive Chelsea’s faint English Premier League title hopes – they are four points behind leaders Manchester United who have a game in hand – while delivering a serious dent to West Ham’s chances of earning the seventh-place finish that will deliver Europa League football next season.

It also provided a sour ending to an otherwise fulfilling day for manager Gianfranco Zola, who signed a new four-year contract immediately after the final whistle.

“We have a project here that we are taking forward, with the coaching staff, (director of football) Gianluca Nani and (chief executive) Scott Duxbury,” said Zola.

“We are working together, we believe in the project and we will do everything we can to make it happen.”

Tags: ashley cole, Barcelona, big games, cech, CHELSEA, Cole, dutchman, eight days, England, English Premier League, Europe, flank, frank lampard, guus hiddink, interim manager, Jose, jose bosingwa, lionel messi, london, Manchester, Mark Noble, mid way, nou camp, Petr Cech, Salomon Kalou, Scott Duxbury, semi finals, stamford bridge, steady performance, steels, upton park, west ham, winger, Zola

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West Ham and Blades end Tevez dispute

LONDON (AFP) – West Ham United and Sheffield United announced on Monday they had reached an out-of-court settlement over the contoversial Carlos Tevez affair.

In a joint statement, the agreement was described as "satisfactory settlement for compensation" but the figure paid by West Ham – which has been reported to be as high as 25million pounds – was not confirmed.

A statement from Sheffield chairman Kevin McCabe and West Ham chief executive Scott Duxbury said: "Both clubs are pleased to announce that a satisfactory settlement for compensation has been reached which brings the dispute between Sheffield United and West Ham to an end.

An independent tribunal which had been set up to look into the matter will thus be discontinued.

West Ham were fined 5.5 million pounds at the end of the 2006/07 season for breaching league rules on the ownership of players in fielding the Argentinian striker, but escaped a points deduction which could have resulted in the club being relegated.

An FA-appointed tribunal then ruled that the illegally-employed Tevez was instrumental in keeping West Ham in the Premier League, opening the door to Sheffield United, who were relegated on the final day of the season, to claim substantial compensation.

Tevez, whose economic rights and transfer activities are owned by a group of investors called the Media Sports Investments (MSI), subsequently joined Manchester United and still plays at Old Trafford.

McCabe said: "We are happy and satisfied with the settlement with West Ham. Throughout the finalisation of the terms for the agreement, the discussions were friendly, co-operative and in the best of spirit with both the Blades and Hammers advisory teams.

"We are two clubs with a fantastic footballing history who now want to move on and focus on the business of playing football – hopefully for us against the Hammers in the Premier League next season.

"We look forward to a positive ongoing relationship with West Ham at all levels."

Duxbury said: "For everyone concerned, the time was right to draw a line under this whole episode. We have had very positive discussions over a number of days with Sheffield United and acknowledge their willingness to resolve this in the best interests of both clubs."

Written by: AFP

Tags: 5 million, advisory teams, affair, Blades, carlos tevez, chairman, chief executive, co operative, contoversial, court settlement, duxbury, economic rights, English Premier League, independent tribunal, kevin mccabe, london, manchester united, MSI, old trafford, premier league, Scott Duxbury, Sheffield, sheffield united, striker, substantial compensation, United, west ham united

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West Ham sign German starlet Nsereko

LONDON (AFP) – English Premiership club West Ham have signed Ugandan-born Germany Under-20 forward Savio Nsereko from Italian second division side Brescia.

The 19-year-old has agreed a four-and-a-half year deal with the Hammers after the two clubs agreed an undisclosed fee.

Nsereko then passed a medical and, subject to international clearance, will make his debut in the Premier League clash against Hull at Upton Park on Wednesday.

West Ham chief executive Scott Duxbury told the club’s official website: "We are delighted to sign Savio, particularly with the fierce competition for his services across Europe.

"He is an exciting prospect, who Gianfranco Zola believes will prove a valuable asset for this club now and in the years to come.

"It is a significant investment and shows our determination to continue moving this club forward."

Savio has scored three goals in 17 games for Brescia this season and his arrival at Upton Park follows the departure from the London club of Wales striker Craig Bellamy to Premier League rivals Manchester City.

Written by: AFP

Tags: 19 year old, AFP, Bundesliga, clash, craig bellamy, duxbury, english premiership, Europe, Germany, half year, hammers, HULL, international clearance, league rivals, london, london club, manchester city, premier league, savio, Scott Duxbury, starlet, striker, undisclosed fee, upton park, west ham, Zola

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