West Ham United agree to takeover bid

English Premiership club West Ham United announced on Tuesday that it has accepted a takeover bid from an Icelandic group, which values the team at £85-million.

WH Holding Limited, controlled by Eggert Magnusson, president of the Football Association of Iceland, and investor Bjorgolfur Gudmundsson, offered 421 pence per share for the east London club.

WH Holding said the offer had been accepted by holders of 83% of the club’s outstanding shares.

“The offer from WH Holding reflects fair value for West Ham, considering its significant history, recent performance and prospects, and its position as a leading London club,” said club chairperson Terry Brown.

“Eggert Magnusson is fully committed to ensuring the club can continue its great tradition of success both on and off the field, to the benefit of supporters and the wider community.”

West Ham currently lie 16th in the Premiership.—Sapa-AP

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