West Ham are set to be taken over this week, with the InterMarket Group leading the race ahead of David Gold and David Sullivan and Malaysian Tony Fernandes. I understand the InterMarket Group is hopefull of hammering out a £100million deal as early as tomorrow.
InterMarket company secretary David Byrne met corporate brokers Rothschild last week and satisfied proof of funds to West Ham’s stricken Icelandic owners.
The Group will be in a position to transfer sufficient monies to buy out equity in the club as well as settle a substantial chunk of its debt by tomorrow afternoon via backers JP Morgan and Deutsche Bank.
A City source revealed: “The InterMarket Group are increasing optimistic their offer is the best one on the table and that they will be in a position to take over West Ham.”
“A deal could be done very soon”
However, the late emergence of Air Asia boss Fernandes could cause a late twist in the long-running saga to save West Ham, and it remains to see how Gold and Sullivan react.
Fernandes, who also runs the Lotus F1 team, was expected to table his bid tomorrow morning after a meeting with Rothschild last week. But he may have made his run too late.
Fernandes’ interest in the Hammers was not give much credibility after talks between him and the club broke down earlier in the season.
Former Birmingham City owners Sullivan and Gold then came to the fore with their £50m scheme to buy out a large chunk of the club, take on the debts and make some money available for new players during the transfer window.
But the InterMarket group, who are London-based financiers with Hammers fans among their key figures, made a move at the end of Octover.
Gold and Sullivan have extended a January 7 deadline for their take it or leave it offer but have been reluctant to up the ante.
By Rob Shepherd
Published News of The World – January 2010