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West Ham chairman £300m in debt

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Thursday 7th May 2009, 11:04

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West Ham chairman £300m in debt

The full extent of West Ham's financial strife has been uncovered after it was revealed the personal debt of chairman Bjorgolfur Gudmundsson stands at £300m.
Gudmundsson bought West Ham for £85m in November 2006 and has invested a further £30m in the club since then.

A consortium of creditors led by Icelandic bank Straumur - which is itself in financial difficulties - is in talks about taking over West Ham.

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