Eggert Magnusson has this morning set out his vision for progression for the Hammers in his first statement through the club's official site.
He has told supporters that he will “not forget the club's great traditions, particularly in the training and development of young English players.”
The Icelandic businessmen will takeover from Terry Brown once the formal paperwork has been signed and West Ham fans can now look forward to what looks certain to be exciting times ahead.
Magnusson has also expressed his interest in exploring the chance to take on the Olympic Stadium in Stratford after the 2012 London Olympic games as well as declaring that Alan Pardew will have money to spend in January.
“In terms of the club's location we are buying what we see, which is West Ham United at Upton Park. However, if there is an opportunity to discuss a long-term move to the Olympic Stadium I would like to explore that, recognising that there will also need to be an athletics legacy from the London 2012 Olympic Games.”
“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 main financial supporter of our bid, Mr Bjorgolfur Gudmundsson, has given me full backing and responsibility to take the club forward. He and I have known each other through football for many years and we share a passion for the game, particularly here in England.
”Mr Gudmundsson's commitment to the club is vital and he also believes that we can build something very special here at West Ham.
”Our partnership is now working with the club's officials and advisers to complete all of the necessary documentation on the takeover deal as soon as possible. We have made fantastic progress in recent days and once the formalities are completed I will assume the role of Chairman.
”There is a genuine excitement in the club about what we can achieve together, which I hope the fans will share. This club has so much to be proud of and I want everyone who loves and supports the club to bring their pride and passion to help build this next stage of West Ham United's future.”