According to the Icelandic news site Newsfrettir the sale of West Ham is formally on!
In a court hearing it was announced that Hansa ehf, the company through which Björgolfur Guðmundsson owns West Ham, was surprisingly granted a prolongation of the moratorium (background HERE).
This is bad news for the ones wanting a forced and quick sale of the Club since it, as far as I understand, gives BG until March before he formally can be forced to sell.
But interestingly it was stated that "...the sale process of the most valued property of Hansa, WH Holding ltd. that owns the football company West Ham united has now begun."
As the faithful reader knows, this is in line with what we have been saying at Bubbleview, but it has been a much slower process than I anticipated that I some days almost lost hope.
At the very least, this is one step closer to the club finally being sold. However, even if I firmly believe that it does not make any sense to either buy or sell the club after the transfer window, I cannot help but to worry about the fact that the moratorium is past Feb. 2nd.
I don't feel totally at ease quite yet.
The information from the court hearing has forced BG to send out his spokesperson - Asgeir Fridgeirsson – to give us his take on the situation.
Fridgeirsson says that BG is looking at offers (what else is new…) and he doesn’t miss the opportunity to tell us that there is a lot of interest in the Club.
He also said that "We are reviewing the asset, looking at what might be the value of the club''.
But fortunately, he doesn’t decide on the value of the Club. The value will be what is agreed upon between him and a buyer.
And I don’t think it’s all aces in BG's hand.
Fridgeirsson also tries “We don’t have to sell…” but I think that depends on what time frame you are talking about.
Come March (if the Court will not grant another extention of the moratorium) BG will actually have to sell, or at least give up his control of Hansa ehf and West Ham holding.