07/11/2008

Ready to sell, but who is ready to buy?

As I've said before, it sounds like BG will let all of his financial interests in West Ham go and focus on what he considers his core business, as soon as a reasonable bid is tabled.

However, since the financial situation of the Club is at best uncertain, I have a hard time seeing anyone coming in for the club before the Sheffield business is sorted, if not offered at a extremely favourable price.

The Club is under an outrageous but nevertheless real threat of having to part with £30+ million! That is 35% of what BG once paid for us, or if you wish, 22% of a recently published evaluation done by BG related people.

So, the sale of the Club is depending on if anyone is willing to gamble with this kind of money, or if BG needs to cash in whatever he can as soon as possible accepting the reasonable demand by a future owner to cut the price to reflect this uncertainty – or possibly a mix thereof.

I think there is no doubt that there is a seller, but is there a buyer under these conditions?
I think not, so the sale will take place when there is a reasonable possibility to predict the outcome of the Sheffield soap. That is NOT before the end of this coming transfer window, I'm afraid.

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