[goldenHuddlestone]

The Icelandic takeover bid of West Ham has moved into pole position with manager Alan Pardew meeting the businessman leading the consortium aiming to buy the club on Tuesday.

Eggert Magnusson, also a UEFA executive committee member and president of the Icelandic FA, met Pardew on Tuesday afternoon and talked through his plans for the club.

Magnusson has already committed to working with Pardew, who has been under pressure after a poor start to the season, and providing money for new signings in the January transfer window if the takeover goes ahead.

The Icelandic consortiums team are continuing the process of due diligence - inspecting the clubs accounts - and a formal offer is expected to be made within a week and perhaps as soon as Friday.

After being initially rebuffed by West Ham chairman Terry Brown, the Magnusson-led bid looks to have surged far ahead of a rival attempt, which was being headed by the Iranian-born Kia Joorabchian and backed by Israeli property tycoon Eli Papouchado.

The Joorabchian consortium also went through the due diligence process and had meetings with Brown and Pardew, but an offer has not materialised.

Brown now looks to be keener on Magnusson, who was given a guided tour of Upton Park earlier this week.

Billionaire financier Bjorgolfur Gudmundsson, chairman of the Icelandic bank Landsbanki, is supporting Magnussons bid for the club.

Magnusson, who along with other members of the consortium are also putting up some of the money, met West Ham chairman Brown last week and indicated he would be prepared to offer £75million, with the bulk coming from equity rather than borrowing, and would also be prepared to take on the £22.5million debt.

[theo kawala]

I see him taking over West Ham.

[Matt the Thrasher]

I think this is good news for West Ham the Icelandic bid was always the more realistic imo.

[theo kawala]

He wouldnt sack Pardew though.

[Matt the Thrasher]

Reports today suggest that the take over will go through early next week .The price is believed to be 75 million pounds plus the new owners would take on the clubs debt of 22.5 million making the take over almost 100 million.Although Icelandic F.A president Eggert Magnusson is fronting the bid the man with the money is billionaire financier Bjorgolfur Gudmundson.
Alan Pardews job is believed to be safe but Argentinians Tevez & Mascherano are expected to leave in January if the deal goes ahead.
I hope Gudmundson is more Abramavich than Romanov.

[theo kawala]

"Alan Pardews job is believed to be safe but Argentinians Tevez & Mascherano are expected to leave in January if the deal goes ahead"

Is this a good thing if these two argentinians leave?
I wouldn't let them go if i were him

[Misterpeng CFC]

West Ham have announced they have accepted Eggert Magnusson's £85m takeover bid for the club.
Magnusson's consortium have secured agreements to buy 83% of shares and the Hammers' board have recommended the offer to remaining shareholders.

Magnusson will replace Terry Brown as West Ham chairman, although Brown will stay on at Upton Park as a director.

Brown said: "The offer reflects fair value considering our history, recent performance and prospects.

[theo kawala]

And i think he will get reasonable amount of money in january.