West Ham United on verge of being taken-over
It has been revealed that London based financial company Intermarket is on the verge of making a takeover offer for West Ham United, the UK premiership football team. The football club has been in financial difficulties for some time and a number of potential suitors have stepped forward and stepped back. However it is believed an offer valuing the club at around £100 million will be announced in the short term although whether this brings into play any other potential suitors remains to be seen.
The £100 million bid may look like small change compared to the likes of Manchester City, which has spent in excess of £100 million on players in the recent past, but looks even less when you consider this includes a rumoured £48 million of debt which the company has built up. While the financials with regards to West Ham United are shrouded in mystery there is no doubt that the company is up for sale and has attracted some interest over the last few months.
We now live in an era where football clubs have become the "playthings" of billionaires and massive conglomerates. Whether West Ham United will be lucky enough to grab a new owner with deep pockets remains to be seen because the club is not viewed as one of the more "glamorous" premiership football clubs.
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