Billionaire to bankroll West Ham takeover bid

A BILLIONAIRE financier has confirmed he will provide the major backing for a bid by an Icelandic consortium to take over West Ham.

Bjorgolfur Gudmundsson, chairman of the Icelandic bank Landsbanki, is supporting UEFA executive committee member Eggert Magnusson’s bid for the club.

The takeover attempt began in earnest yesterday when Magnusson’s financial advisors started inspecting the club’s accounts.