January transfer blow for Hammers

The Feedster

From the BBC News Desk

West Ham admit money will not be forthcoming for new signings as Icelandic bank Landsbanki is placed into receivership.

West Ham admit they have no money for new players after Iceland's second biggest bank, Landsbanki, collapsed.

Club chairman Bjorgolfur Gudmundsson is a major shareholder in both West Ham and Landsbanki and was chairman of the bank until he was sacked on Tuesday.

Vice-chairman Asgeir Fridgeirsson told BBC Sport: "It is very unlikely he will be willing to put in more money to buy players this January window."

He also insisted the club was not for sale, despite interest from agents.

Manager Gianfranco Zola had been promised funds when he took over on 11 September.

"If we need to improve certain things I'm sure they [the board] will back me," said Zola in September.

Later in the month, Zola added that West Ham chief executive Scott Duxbury had told him changes in January would "not be a problem".

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