Icelandic bank goes into receivership. The fun never stops at West Ham
Gud luck, mate
West Ham will have to change their name to Credit Crunch United at this rate because no Premier League club is feeling the pinch quite like the Hammers. Just weeks after shirt sponsor XL.com went bust, Icelandic bank Landbanki - of which club chairman Bjorgolfur Gudmundsson is a major shareholder - has gone into receivership.
A West Ham board member denied that the bank’s problems would affect the club. He told the BBC: “This is not affecting West Ham. One of Mr Gudmundsson’s investments has gone bad, but he is still standing and has a lot of other investments.”
With that potential compensation package to Sheffield United still hanging over the Hammers too, it is tempted to believe the anonymous board member is putting a slightly brave face on.
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Another carping ‘article’ from the shite-you-can’t-trust.
Look, all you Manchester United fans will be crying in your beer long before we do. You and Liverpool are the most likely candidates to implode over this. All your funding is based on debt (dodgy derivatives and loans) and you’re over valued. Recipe for disaster.
1) the author isn’t a united fan
2) ‘dodgy derivatives’? I really hope you know what you’re talking about because then this would actually get interesting. The ‘all your funding is based on debt’ bit tells me you don’t - United operates on it’s income and turns a profit despite the heavy interest payments. Liverpool aren’t too hot for the stadium money but they’re still turning a profit.
West Ham? Not turning a profit.
Oh, and how is United overvalued? Do tell. You disliking a player, the manager, the club or the fans doesn’t count…
After sponsoring West Ham “Doc Martens” had to close all their shops in the UK and move to Asia because of declining sales
Jobserve fortunes fell only recently to rise back again.XL.com went bust and now Landbanki. Anybody want their rival company in the red, just convince them to sponsor the Hammers. They got the Cracked Glass curse written all over the claret jerseys LOL!!!
PS* tc before you start barking back in denial, go check out the facts first. Wikipedia dishes out the entire dirt on your beloved club