BBC.co.uk
West Ham have been taken over by asset management company CB Holding.
Chairman Bjorgolfur Gudmundsson and vice-chairman Asgeir Fridgeirsson have
resigned from the club's board. The new non-executive chairman will be
Andrew Bernhardt, a senior director with Straumur Bank, which is the major
shareholder of CB Holding.
He 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: "CB Holding has no intention of changing the executive management or
direction of this club. "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."
Hansa had until Monday 8 June to prevent creditors seizing its assets and
forcing the sale of West Ham and CB Holding was set up by the creditors last
week. Gudmundsson said: "I want to thank everybody at Upton Park for
unforgettable years. As my fortunes have changed I now have to withdraw from
the board of directors. "I do that with great regret but I am convinced this
change of ownership and control of West Ham will advance the club. "I will
remain forever a West Ham fan and hope I will have many returns to West
Ham."
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Hammers sold to CB Holding
Upton Park outfit look to the future under new owners
By Rob Parrish Last updated: 8th June 2009
SSN
West Ham United is under new ownership with asset management group CB
Holding taking control of the Upton Park outfit. Andrew Bernhardt, the
majority shareholder in CB Holding, has been named as the new non-executive
chairman of the Hammers. Former owner and chairman Bjorgolfur Gudmundsson
and his vice-chairman Asgeir Fridgeirsson have stepped down with immediate
effect. There had been concerns for the future of the club following the
global economic crisis which crippled Gudmundsson's finances. But with a
sale to CB Holding, the majority of which is owned by Straumur-Burdaras
Investment bank, now completed West Ham can look ahead with renewed
optimism. New chairman Bernhardt, a senior director with Straumur Bank, has
already given his full backing to manager Gianfranco Zola and has pledged to
provide funds to strengthen his squad over the summer.
Bernhardt told the club's official website: "We have one of the best young
management partnerships in Gianfranco Zola and Steve Clarke and the team has
evolved with a great mix of experience and young players coming through from
the Academy. "I can assure fans we will sanction investment in new players,
but all within the parameters of sensible budgeting based on revenues
generated by West Ham United. "It will be my job to help facilitate this
continued progress 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."
West Ham's CEO Scott Duxbury, who will be remaining in his post, said: "I am
delighted to say that West Ham United has been sold in an agreement that
will secure the long-term future of this football club. "Change is always
unsettling, but I believe the new owners led by Andrew Bernhardt will bring
stability to West Ham United and I hope all our staff and fans will join me
in welcoming them to our club. At the same time, my best wishes and thanks
go to Bjorgolfur Gudmundsson and Asgeir Fridgeirsson.
"This will allow us all to concentrate on next season and beyond, with
Gianfranco Zola, technical director Gianluca Nani and I working to build on
what we have achieved.
"We are all committed to a long-term vision. We are playing great football,
have our Academy at the heart of the club and are looking to the past to
move forward in the right way. I can assure all fans that I will never lose
sight of this. I am determined to bring success to West Ham United."
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West Ham United sold to asset management company
Times Online
West Ham United have confirmed the club has been sold to CB Holding, an
asset management company. The move is expected to safeguard the long-term
financial future of the Premier League club, which has been plagued by
financial problems since the collapse of the global economic markets last
autumn. Some reports claimed Bjogolfur Gudmundsson, the former chairman,
lost £230 million in the nationalisation of the Icelandic Landisbank. CB
Holding, the majority of which is owned by Straumur-Burdaras Investment
bank, completed the takeover this morning and as a result, Gudmundsson, the
former owner and chairman, and his vice-chairman, Asgeir Fridgeirsson, have
stood down.
Andrew Bernhardt, a senior director with Straumur Bank, will become West
Ham's non-executive chairman and said he was encouraged by the infrastucture
that was already in place at the club. "I am delighted that an agreement
has been reached and look forward to working with CEO Scott Duxbury and his
team in the coming years," he said. "We have one of the best young
management partnerships in Gianfranco Zola and Steve Clarke and the team has
evolved with a great mix of experience and young players coming through from
the Academy.
"I can assure fans we will sanction investment in new players, but all
within the parameters of sensible budgeting based on revenues generated by
West Ham United. It will be my job to help facilitate this continued
progress 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.
"CB Holding fully supports the executive management of the club and
acknowledges the considerable progress achieved this season by Scott Duxbury
and Gianfranco Zola. CB Holding has no intention of changing the executive
management or direction of the club."
Scott Duxbury, the West Ham chief executive, said: "I am delighted to say
that West Ham United has been sold in an agreement that will secure the
long-term future of this football club. Change is always unsettling, but I
believe the new owners led by Andrew Bernhardt will bring stability to West
Ham United and I hope all our staff and fans will join me in welcoming them
to our club. At the same time, my best wishes and thanks go to Bjorgolfur
Gudmundsson and Asgeir Fridgeirsson.
"This will allow us all to concentrate on next season and beyond, with
Gianfranco Zola, technical director Gianluca Nani and I working to build on
what we have achieved. We are all committed to a long-term vision. We are
playing great football, have our Academy at the heart of the club and are
looking to the past to move forward in the right way. I can assure all fans
that I will never lose sight of this. I am determined to bring success to
West Ham United."
Gudmundsson added: "I want to thank everybody at Upton Park for
unforgettable years. The players, fans, management and staff have all
contributed immensely to a period of progress, a period where the club has
sharpened its vision, strengthened the first team with young homegrown
talents and laid a solid foundation for self-sustainable operations of West
Ham United as a strong Premier League football club.
"As my fortunes have changed 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 of West Ham United will advance the club in the
present circumstances. I wish the new chairman and all involved at Upton
Park all good fortunes and great success in future. I will remain forever a
West Ham fan and hope I will have many returns to Upton Park."
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West Ham Deal Completed
West Ham Till I Die
It has been announced this morning that West Ham have been sold to asset
management group CB Holdings, as first mooted on this blog a few months ago.
CB Holdings is majority owned by the Icelandic bank Straumur. The club's new
chairman Andrew Bernhardt has pledged stability and investment in new
players. "We have one of the best young management partnerships in
Gianfranco Zola and Steve Clarke and the team has evolved with a great mix
of experience and young players coming through from the Academy. "I can
assure fans we will sanction investment in new players, but all within the
parameters of sensible budgeting based on revenues generated by West Ham
United. "It will be my job to help facilitate this continued progress 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."
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Hammers confident following sale
by Alex Livie , 08 June 2009
setanta.co.uk
West Ham are confident the club's takeover by CB Holding will enable them to
continue the progress made under Gianfranco Zola. Bjorgolfur Gudmundsson
opted to sell his holding in The Hammers after being caught up in the
financial turmoil of the past 12 months. CB Holding wrapped up a deal to
purchase Gudmundsson's stake and Andrew Bernhardt, The Hammers' new
non-executive club chairman, has insisted they will make money available to
Zola. "I am delighted that an agreement has been reached and look forward to
working with CEO Scott Duxbury and his team in the coming years, " said
Bernhardt in a statement on the club's official website. "We have one of the
best young management partnerships in Gianfranco Zola and Steve Clarke and
the team has evolved with a great mix of experience and young players coming
through from the academy. "I can assure fans we will sanction investment in
new players, but all within the parameters of sensible budgeting based on
revenues generated by West Ham United. It will be my job to help facilitate
this continued progress 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."
Duxbury feels the move enables the management team to plan for the future
with security. He said: "This will allow us all to concentrate on next
season and beyond, with Gianfranco Zola, technical director Gianluca Nani
and I working to build on what we have achieved. We are all committed to a
long-term vision. "We are playing great football, have our academy at the
heart of the club and are looking to the past to move forward in the right
way. "I can assure all fans that I will never lose sight of this. I am
determined to bring success to West Ham United."
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