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Costly connection
until 2006, much of the business which became the holiday group xl was owned by a loan icelandic company controlled by bjorgolfur gudmundsson and his son thor bjorgo fsson .
the icelandic chairman of west ham united fc has a long connection with xl, the holiday group which has collapsed leaving tens of thousands stranded .
the total loss from xl to bjorgolfur gudm nsson - the west ham owner - and his son could reach 52m euros (Â 99m) .
but the purchase was largely funded by a loan from the icelandic bank landsbanki, which is controlled and part-owned by the gudmundsson family .
west ham fans will be whoping that this business setback does not prevent the club's owner from connectinuing to invest in the football club .
xl ham united a Â7.5m, three-year supponsorship deal with the londsson football club .
Generated 2008-9-15_19:1
- Costly connection 2008-09-12 18:17:48
http://news.bbc.co.uk/go/rss/-/1/hi/business/7613351.stm
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