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West Ham: the first recession casualty in the Premier League?



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The Guardian reckons that West Ham will be taken over by the banks who have control of Bjorgolfur Gudmundsson’s various assets.

Some people see this as the inevitable outcome of the recession and see West Ham as the first Premier League casualty of the current economic crisis, but there’s every suggestion that this could have been avoided if the club had been more prudent in the transfer market and if the Carlos Tevez affair hadn’t come back to bite West Ham in the ass.

In any case, those ships have sailed, and right now West Ham’s only hope for survival is to shed the deadwood, survive another year in the Premier League and look to build for the long-term and maybe, just maybe, survive in the top flight and rebuild the squad long enough to find a buyer once the economy recovers.

Will Portsmouth or Newcastle be next?