Takeover Latest

The proposed takeover by Iranian-born businessman Kia Joorabchian has failed because of disagreements over a price.

Media Sports Investments was reported to be considering a £200million bid for the Hammers.

It had been suggested his takeover would value West Ham at £45million and he would then clear an estimated £30million of debt and inject another £100million into the Upton Park coffers, with a further £30million spent on ‘keeping the cash flow going’.

MSI have released a statement to the Stock Exchange, in which the company announced they were ‘no longer interested in making an offer for West Ham’ because of perceived problems over agreeing a valuation for the club’s parent public limited company.