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Intermarket: we're serious players

Filed: Wednesday, 11th November 2009
By: Staff Writer

The group linked with a takeover bid for West Ham United have claimed that a non-disclosure agreement has been signed with agents Rothschilds.

The Intermarket Group, who first announced their intentions to buy West Ham last month claim that a confidentiality agreement has been signed between the two parties after proof of funds were provided to the investment bankers, appointed recently by CB Holdings to investigate the possibility of a sale.

"Some people were dismissing us as not being serious bidders but we are," Intermarket company secretary David Byrne is quoted as saying in today's Telegraph. "We have satisfied them [Rothschilds] that we have proof of funds.

"We have definitely got the interested parties with the money needed to do what we need to do, and get in some funding to stop West Ham having to sell players and make sure they can strengthen to be able to avoid relegation."

Whilst the identities of those involved in Intermarket remains a closely-guarded secret - something that has led to the group's interest being viewed with a certain amount of scepticism - Byrne once again reiterated an earlier statement in which it was claimed the backers were all wealthy Hammers fans.

"[We're] a group of investors from institutional level down to high net-worth individuals," added Byrne. "We are West Ham supporters and are deadly serious - and we believe we have satisfied Rothschilds that we are serious.

"This has been portrayed as an American bid but that's not the case. The Intermarket Group is London based."

Intermarket are said to be keen to cut a deal before December 11th, when a Straumur creditor's meeting could potentially force the sale of the club (to either Intermarket ore one of a number of other parties said to be interested).

However it is also not beyond the realms of possibility that Straumur, who are under increasing pressure from within Iceland could pass ownership of the club on in order to appease their own creditors.

Related News

   arrow   Fernandes tops readers poll [30th Dec 2009]
   arrow   Buy now, pay later [9th Dec 2009]
   arrow   Intermarket: we're serious players [11th Nov 2009]
   arrow   CBH to seek fresh investment [25th Oct 2009]
   arrow   Wealthy consortium behind new bid [17th Oct 2009]

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by Dean
01:23AM 14th Nov 2009
''Does anyone know who these guys are? Will this be a good thing for West Ham in the long run? I understand that anything would be better than what we have now but I'm just concerned that we are going to get another Eggert Magnusson in who will promise us the world and then fail to do anything he said that he would.''

by Lee Byron
11:39PM 11th Nov 2009
''Let's hope this happens sooner rather than later. Coincidence that the last time we were hanging over a takeover bid, we barely survived the drop. This time though, no Tevez, Bobby Z with his important goals, and no glut of players that a large squad provides. Instead we have a load of academy graduates (not dissimilar to the dreaded Roeder 2nd season).

And if it is a bunch of West Ham fans taking on the club, lets hope that is a good omen. ''

by raymond lucas
11:24PM 11th Nov 2009
''I hope that the club is sold asap, hopefully to someone who is genuinely interested in West Ham Utd. It will be good for all to get rid of the current negative ownership who will eventually destroy our beloved club if they continue to own it.''

by brad
02:50PM 11th Nov 2009
''I hope it's true, fingers crossed.''

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