An Icelandic consortium's bid to take over West Ham has been accepted by the board of directors on Tuesday, the Premiership club announced. Icelandic tycoon Eggert Magnusson is set to buy 83% of shares and will be named the club's new chairman while current president Terry Brown is due to be general director. "I fully appreciate the personal responsibility that will come with becoming chairman of West Ham," Magnusson was quoted as saying by British media. "And (I) pledge to the staff, the players and the fans that I am here to serve and to do all that I can to deliver genuine success on and off the field." Magnusson confirmed that Alan Pardew will remain as the team manager , stressing that he will have enough cash in January. "We can now end the uncertainty of recent weeks and move forward into the next phase of development of this great club, with Pardew leading our efforts on the pitch," he said. "It is clear in my mind that there will be funds available for the manager in the January transfer window." West Ham became the latest Premiership club to be sold to foreign investors, joining Chelsea, Manchester United and Portsmouth.
