Hammers far from out of the financial woods yet
By Ho Lee Smoke
Monday 08 Jun 2009 17:30:00
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West Ham fans can breathe a little easier now that the long-awaited takeover of the club by CB Holdings has been completed.

However, none of us here at uptonsparks are doing somersaults just yet. The arrangement is unashamedly a holding operation by Icelandic bank Straumur, who have picked up the pieces, until the financial markets pick up. Article continues below

The people running the show, behind the scenes at least, have little or no football experience and, although the stability is to be welcomed, there is little doubt Gianfranco Zola is going to have to continue to operate on a shoestring.

Newcastle and Middlesbrough have shown this season it is quite possible to get relegated even when you spend (relatively) wads of cash, so forgive us if we watch the summer's transfer dealings with a degree of trepidation.

Lucas Neill's anticipated departure as he apparently turns his nose up at a reduced contract sets the scene. Negotiations with Robert Green may well be equally tense.

Things are undoubtedly better today than they were yesterday, but who knows what tomorrow will bring...

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