This is a discussion on West Ham chairman £300m in debt within the European Sports forums, part of the Sports Forums category; ...
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The full extent of West Ham's financial strife has been uncovered after it was revealed the personal debt of chairman Bjorgolfur Gudmundsson stands at £300m.
Gudmundsson bought West Ham for £85m in November 2006 and has invested a further £30m in the club since then.
However, the 67-year-old's business has suffered a series of setbacks and his liabilities will increase pressure for West Ham to be sold in the summer.
"The situation is very bad," he told Icelandic newspaper Morgunbladid.
"I have everything on the line - personal liability extends to all of my assets.
"I'm left with the question, what is my position? I must admit that I'm a little lost. I just don't know what I will be able to keep."
Well there's some good news for Steve. >.>
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