West Ham United Football Club plc

The "Hammers" were taken over by an Icelandic consortium in November 2006 in a £85m takeover bid headed by Eggert Magnusson. The agreement was to buy 83% of shares and Terry Brown, the existing chairman at that time, stepped down although stayed on as a director. A year later Magnusson sold his stake to Bjorgolfur Gudmundsson, a financier worth an estimated US$1bn (at the time - now closer to US$0 - end 2008) and chairman of Icelandic bank Landsbanki, who in turn became chairman. In January 2010, following the Icelandic banking crash, the club was sold to David Sullivan and David Gold. They took a 50 per cent stake, paying £50m, of which Icelandic bank Straumur and its partners receiving about £10m, with the remainder used to reduce debts estimated at £110m and to provide workng capital. The two Davids must exercise an option to buy the remaining 50 per cent if the club meets certain financial targets in relation to revenue and debt by 2014.

Turnover and pre-tax profit figures are in millions.

Financial Overview