West Ham owner moves towards sale

West Ham’s owner Bjorgolfur Gudmundsson has taken a step towards selling the club after receiving several provisional offers.

Although the Icelandic financier has yet to make a final decision about selling up, he has given permission for non-disclosure agreements to be signed with up to five potential buyers.

The agreements, binding in law, allow the interested parties to look at confidential financial information about West Ham on the condition they do not disclose it.

However, the agreements fall short of due diligence, which gives prospective buyers full access to the club’s accounts.

Several of those interested have put in opening bids but have fallen well short of the amount Gudmundsson would want.

According to court documents in Iceland filed by his holding company Hansa, he values West Ham at £250m (€263m). No binding offers have yet been made to Gudmundsson, who bought the club for £85m (€89m) only two years ago.