Iceland football chief says he is serious about West Ham takeover

THE Icelandic businessman at the head of a new takeover approach for West Ham has stressed the seriousness of the bid — and expressed his desire to bring back the club’s glory days.

Eggert Magnusson, who is also head of the country’s football federation and a UEFA executive committee member, insists there are firm and honest intentions behind the bid.

It is understood the £75 million behind the bid is being put up by a respected Icelandic financial institution — although not the investment bank Straumur-Burdaras, of which Magnusson is vice-chairman.

There have been suggestions from the camp of a rival interest in West Ham, Iranian businessman Kia Joorabchian, that the latest approach is a “red herring”, even though his own bid appears to have run out of steam.

Magnusson, 59, said: “I have been following events for the last year and have seen there have been some bids from other interests but nothing has happened. I would suggest that if there are any red herrings, it is the other bids, not our interest.

Magnusson’s knowledge of West Ham goes back 40 years and the Icelander, who would become club chairman if the bid goes through, said he wanted to maintain the side’s famous traditions.

“We are just at the beginning,” he said. “West Ham is a great club with a great history. They have a good manager with good players and a very strong fan base.