West Ham Takeover Leaves the Odds Short on Pardew

After many weeks and months of uncertainty, it looks finally as though West Ham United have a new owner, an Icelandic consortium funded mainly by the mega-rich Bjorgolfur Gudmundsson and fronted by Eggert Magnusson.

Fans of the Hammers will sincerely be hoping that, with this issue cleared up, the quality of play on the field improves too. West Ham currently lie in 16th place in the Premiership and hover above the dreaded "trap-door" of relegation by a solitary point. The cause is clear to see – just one point gained from seven trips to away grounds and no more than an average home record to boot.

West Ham are separated from Charlton Athletic at the bottom by just three points but there is a Grand Canyon of a gap between the general expectations for the clubs. After last weekend's feeble effort at Reading following the first Premiership managerial head-roll courtesy of Iain Dowie's departure from the Addicks, Charlton are widely tipped for the exit next May. With this takeover going through and funds on offer for the January transfer window, West Ham are in contrast considered relatively safe from demotion.

So where does this leave the Hammers' incumbent manager Alan Pardew? Backers of his imminent sacking – and thereby "first Premiership manager to leave his club" - have already lost their money thanks to the Charlton Board's apparent attack of financial jitters resulting in the immediate elevation of the untried Les Reed.

If Alan Pardew is at all cynical, he is unlikely to be wholly pacified by the new consortium-owner's "vote of confidence" although the promise of funds may keep the fans happy. Eggert Magnusson says:

"We can now end the uncertainty of recent weeks and move forward into the next phase of development of this great club, with Alan Pardew leading our efforts on the pitch. I will also be continuing talks with Alan Pardew on how he sees the future on the playing side. This is very much his domain and he has my full confidence and support. He already knows that funds will be made available for the January transfer window but we need to discuss his needs and the investment that might be required to strengthen the squad."

The betting market is taking no chances with Pardew's future quoting him at a clear second favourite to be the next Premiership manager to leave his post. 3/1 is the indicative price with only the hapless Glenn Roeder of Newcastle ahead of him on the plank. Pardew's saving grace – from a betting perspective – is that the said plank is already bending with Roeder quite near the end of it with a 5/4 price on his head!

Whether or not Pardew is given time by the Icelanders, the new owners will be anxious, even desperate, that their team avoids a tangle with calamity come the end of the season so Pardew will need to act wisely in January and not panic-buy. By then, less than 20 games will remain for the team to get their act together on the park.

Hammers fans will be forgiven for keeping a close eye on the results of Watford, Sheffield United and Charlton in the coming weeks. So far, the betting market is giving West Ham the benefit of the doubt in the relegation odds although Bet365 offer a less than convincing 7/2 for survival whereas others are nearer 9/2 and even 5/1. The worry for the Hammers is that the market is already pricing in Watford, Sheffield United and Charlton for relegation while assuming that West Ham will gel quickly as a team with any new additions in January. The return of Dean Ashton may be a saving grace but it is easy to forget that West Ham were a Coca Cola Championship side less than two years ago. It is easy to return there and the trap door is not getting any smaller.

Current relegation odds:

Watford 3/10 (Totalbet), generally 1/4 and 1/5 elsewhere.
Sheffield United 1/3 (Ladbrokes), 2/7 (Blue Square), elsewhere 1/4 and shorter.
Charlton Athletic 4/5 (Blue Square and others)
West Ham United 5/1 (Stan James) but as low as 7/2 at Bet365.
Newcastle United 6/1 (Coral) but as low as 3/1 at Ladbrokes.

Ed note: Plenty of value at the bottom with Blue Square Betting where a free £25 bet is yours with the first bet

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