Owners administration will not affect West Ham

Hansa Eignarhaldsfelag ehf, English West Ham United's holding company, was reported to have gone into administration on Tuesday. The company will now be run by an administrator appointed by Icelandic authorities.

Asgeir Fridgeirsson, vice-chairman of the club held an interview with the Telegraph, explaining the situation. He said that the club believes that Hansa has enough assets to continue to function. Fridgeirsson explained that club owner Bjorgolfur Gudmundsson now has limited options in light of this recent development, and that he is currently reviewing his assets.

Gudmundsson has suffered sagnificate losses in his person fortune due to financial downturns in Iceland. Speculation that he will sell the club continues, even though this has not been confirmed. Many foreign investors are interested in the club, and it could sell for approximately GBP 150 million. The Sheffield United claim over the Carlos Tevez case would be a deterrent in finanalizing as sale at this point, as West Ham's appeal could extend the situation another several months.

Fridgeirsson made it clear that the functioning of the club will not be affected by this news, as there is no debt outstanding between West Ham and Hansa. He also stated that, "I am convinced that the club will go on no matter what. We are not going to sell players in order to settle debts of Hansa." If this is the case, manager Gianfranco Zola will not feel pressure during the upcoming transfer window.