Eggert Magnusson has today left West Ham after only a year as chairman. Earlier today Magnusson sold his stake in the Premier League club and declared he was going to focus a little more on interests abroad."Now that I need to focus a little more on my interests overseas, I think it is the right time to stand down," he said. Owner Bjorgolfur Gudmundsson has become chairman and executive chairman and has bought Magnusson's 5% shareholding in the club.
"Eggert Magnusson has done a tremendous job as chairman, often in difficult circumstances, since our consortium bought the club 12 months ago," said Gudmundsson, who the club says has invested a further £30.5m.
"Eggert has decided to move on to new pastures and to pursue his other interests. We wish him well for the future and express our thanks for all that he has done for West Ham."
Magnusson took over West Ham with the side languishing near the foot of the table, but instead of sitting back and letting things sort out themselves he acted quickly by sacking Alan Pardew and appointing Alan Curbishley.
Curbishley kept the side in the league but after the season ended the Hammers faced an appeal from Sheffield United about a possible points deduction for playing Carlos Tevez and Javier Mascherano who's playing at the club was brought into question.
The Hammers dodged a points deduction but were handed a massive fine. Magsnusson finished by saying : "The last 12 months have not been without their challenges but I feel that we have emerged stronger and fitter as a club.
"I would also like to pay tribute to the West Ham fans who, I believe, have shown themselves to be the best in the country."My thanks to everybody who has worked with me in my time here and I wish the club every success for the future."
Bye Bye Eggert and good luck !
