The financial crisis at West Ham is still far from over, though their new owners

have vowed to steer the Hammers back to financial security.The club were taken over by ex-

Birmingham City owners David Sullivan and David Gold, in a deal that valued their 50% stake in their hometown club at £105m in January 2010.They are now looking to raise

between £20m and £40m from professional investors in a bid to put the club’s finances on a sounder footing.Sullivan and Gold immediately

moved to condemn the “wreckless” spending by former owners Eggert Magnússon and Björgólfur Guðmundsson, which almost brought the club to its knees largely thanks to a massive wage bill.Yet, despite the financial promises

from the new owners - who have

brought former Birmingham City Managing Director Karen Brady with them to the East End - fans remain cautious. Many feel Birmingham’s vast improvement in Premier League stature has only really arrived after the departure of Messrs Gold and Sullivan.Hammers manager Gianfranco

Zola (pictured below), 43, also put his future at the club in doubt by telling the club’s new owners that he will not allow anyone to “walk over my principles” after warnings of pay cuts at the London club and the suggestion that Zola could be “too nice” to be a successful manager.Sullivan, 61, responded: “He is

entitled to his opinion and I respect that. “I hope it galvanises the team and

the manager to produce a wonderful performance. All I can say is that in 17 years we sacked two managers at Birmingham. We are not sackers.“We support managers and he is

100% secure. We will bring in players to improve the team in the

summer.”Sullivan also implied he feels

Birmingham are now the better club - a sign which backs up his argument that the pair are in with the club they love for the long haul.

Icelandic Meltdown East End Revival?

Icelandic Meltdown East End Revival?

By Jamie McLean

Sullivan (left) and Gold (right) want to bring the good times back to Upton Park.

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