The iceman cometh!

Who? - Eggert Magnusson
Who is he? - The head of an Icelandic consortium
What is he doing ? - Buying West Ham

An Icelandic consortium headed by Eggert Magnusson has had its takeover bid for West Ham United accepted by the Premiership club. The 85million offer has been backed by billionaire financier Bjorgolfur Gudmundsson, who is the chairman of Icelandic bank Landsbanki. The Hammers' board of directors have unanimously recommended that the remaining club shareholders accept the offer. The consortium are believed to have taken on the club's 22.5million debt, although there is no mention of this part of the bid in the club's announcement. Current Hammers chairman Terry Brown, who will step down once Magnusson arrives, said: "The offer reflects fair value considering our history, recent performance and prospects. Eggert Magnusson is fully committed to ensuring the club can continue its great tradition of success both on and off the field, to the benefit of supporters and the wider community." Magnusson himself added: "I am both delighted and honoured that Terry Brown and his colleagues wish to support our offer for West Ham."

But what does this mean for Alan Pardew's team on the pitch? Well, first up it seems Carlos Tevez and Javier Mascherano will leave London in the January transfer window. The Argentine duo were brought to Upton Park by Kia Joorabchian, whose proposal to bid for the club never materialised, meaning they are unlikely to stay that far into Magnusson's reign. However, the Icelander is keen to leave the final decision on their fates to manager Alan Pardew, with his spokesman explaining: "He is not going to interfere in playing matters...[Pardew] controls that part of the club, there is no two ways about that."

Indeed, the change at the top looks likely to have only positive effects on the team itself. Magnusson has already expressed his happiness with Pardew as boss and is all set to fund any forays into the January transfer window the manager may want. "I think he is a great manager, he has done great things with West Ham," the Icelander said. "Last season was a great year and I fully believe he will help me take West Ham to the next stage. It is clear in my mind that there will be funds available for the manager in the January transfer window. He has absolute power over his team and it his decision who he wants to add to his squad. I will work very closely with him on what his desires are in the January window and going on to the next level."

"I am here to be a hands-on chairman," Magnusson concluded. "I want to fully commit to West Ham. I want everybody concerned - the staff, the supporters, everybody who loves and cares about West Ham - to know I come here to achieve great things for West Ham".

Carling