Iceland’s CB Holding Takes over West Ham Skip to content

Iceland’s CB Holding Takes over West Ham

CB Holding, which is in the majority ownership of the now state-run Icelandic investment bank Straumur-Burdarás, has taken over English football club West Ham United. The club was previously owned by former Landsbanki chairman Björgólfur Gudmundsson.

Former West Ham chairman Björgólfur Gudmundsson. Copyright: Icelandic Photo Agency.

Gudmundsson has stepped down as West Ham’s chairman of the board, as has the board’s vice-chairman Ásgeir Fridgeirsson. Andrew Bernhard, Straumur Burdarás’s managing director, will take over as chairman, RÚV reports.

Bernhard announced in a statement yesterday that Gianfranco Zola will remain West Ham’s manager and Steve Clark his assistant. Bernhard also promised that Zola would be provided with funding to invest in new players this summer.

In a statement which Gudmundsson released to the media yesterday, he wished West Ham good luck while thanking the club for unforgettable years.

The club’s former chairman said he hoped that he could visit Upton Park many times in the future and declared that he will be a West Ham supporter for the remainder of his days.

Click here to read more about West Ham’s Iceland connection and here to read more about Straumur-Burdarás.

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