Gudmundsson rejects despondent offers for West Ham

The recent English High Court decision issued in the Carlos Tevez matter has managed to affect West Ham’s desirability. The club has reportedly been presented with three offers, although they have all been rejected by Bjorgolfur Gudmundsson, who held close to half the shares of the sunken Landsbanki.

Gudmundsson, who recently experienced a series of financial losses in light of global economic downfall, appears to be waiting for a more lucrative offer. The West Ham owner has invested GBP 30 million in the club, in addition to the original purchase price of GBP 85 million, with the value of West Ham currently estimated at GBP 120 million. Rumours dictate that the offers sit somewhere around GBP 50 million, quite a stretch from the sum Gudmundsson hopes to receive.

The low offers have been attributed to financial circumstances surrounding the club, especially since its debts would be transferred to the new owner. The ongoing court battle certainly has not helped Gudmundsson secure a respectable offer, with the possibility of Sheffield United pursuing up to GBP 50 million in damages from West Ham.