English Premier League side West Ham United have been sold for an as yet undisclosed fee to CB Holding, an asset management group, the club announced on Monday.
The London side hope the deal will secure their financial future after previous owner and chairman Bjorgolfur Gudmundsson saw much of his personal fortune wiped out as a result of the Icelandic banking crisis caused by the global credit crunch.
Gudmundsson and vice-chairman Asgeir Fridgeirsson have both left the club.
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