Brown shells out

  • by Staff Writer
  • Tuesday, 5th November 2013

Terry Brown has finally sanctioned major financial investment into a football club - seven years after he made millions from the sale of West Ham United FC.

Lifelong Hammers fan Brown, who was Chairman of the club for some 15 years until selling to the Icelandic consortium of Eggert Magnusson and Bjorgolfur Gudmundsson in 2006 was a figure of hate for many West Ham fans, who blamed him - amongst other things - for selling the Club's best young players, increasing his own personal stake via a compulsory 'buy back' share scheme and consistently failing to invest in the squad.

For those fans, the news that he has lent troubled League One club Sheffield Wednesday £1.5million will be a case of rubbing salt in the wounds - but that's precisely what happened last year, according to the club's annual accounts.

According to Inside Media, Brown's loan is secured over the club's Hillsborough stadium. It is thought the deal came about as the result of Brown's friendship with Chairman Milan Mandaric and Paul Aldridge, a Director at Wednesday who worked under Brown as West Ham's former Managing Director.

Brown, who still regularly attends West Ham's matches - as he has done week in, week out for many years - currently holds a position of Honourary Life President at the Club.

Having initially been granted the role by his Icelandic successors as a condition of the sale of West Ham, he resigned in February 2007 after it was revealed that Eggert Magnusson planned to take legal action again him following the Tevez scandal. In 2010, David Gold and David Sullivan reinstated Brown as Honourary Life President.

Former MD Paul Aldridge - a rather more popular figure with supporters than his employer - left West Ham shortly after the Icelandic takeover due, it is believed, to his close links with Kia Joorabchian who was a main rival to Eggert Magnusson when West Ham was made available for sale in 2006.

Since then he has been employed by Leicester City (as Chief Executive, Janury 2008) - alongside Mandaric, who owned Leicester at the time - and Manchester City (Chief Operating Officer, June 2008) before he teamed up with Mandaric once again at Wednesday. Aldridge was initially employed as a consultant to assist in the purchase of the League One club before being made Chief Executive and Vice Chairman in 2011.


Brown Out! What it took for Terence to go

* The sale of West Ham United (Brown's 36 per cent stake earnt him circa £30million profit)

* The retention of his £592,000 Chairman's salary for the next three years

* The creation of a new role: Honourary Life President

* Eight seats in the Directors' box (West Stand)

* Eight hospitality spots in the Chairman's suite - for life


KUMB.com Q&A: Paul Aldridge

KUMB.com interviewed Paul Aldridge twice during his spell at West Ham. You may read those articles here:

KUMB Q&A: July 2000

KUMB Q&A: April 2002

* Terry Brown constantly refused to be interviewed by KUMB.com - but Terry, the offer still stands!

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