SOCCER: West Ham owner Bjorgolfur Gudmundsson's hopes of selling the club for a big profit have suffered a fresh blow after the Premier League announced a new investigation into the Carlos Tevez scandal.

The Icelandic banker is looking for buyers to ease his financial problems.

But yesterday's announcement of a new inquiry, to be conducted jointly by the Football Association and the Premier League, is another blow following last year's defeat by Sheffield United in an arbitration tribunal that leaves the Hammers facing a payout of millions in compensation.

The Hammers were fined £5.5million in 2007 for breaching league rules over third-party agreements in signing Tevez, and the new inquiry will focus on the club's dealings with his representatives after the initial punishment.

That means there is the threat of further sanctions for the club.

It follows the arbitration tribunal chaired by Lord Griffiths, who ruled in favour of Sheffield United and pointed the finger at West Ham chief executive Scott Duxbury.

The key point to be investigated is the evidence provided to the tribunal by lawyer Graham Shear, solicitor for Tevez's agent Kia Joorabchian.

Shear said that Duxbury had provided verbal assurances, or "oral cuddles", that the third-party agreement still existed - despite the Hammers chief having informed the Premier League that the agreement had been terminated.
 
Griffiths said in his findings: "If the Premier League had known what Mr Duxbury for West Ham was saying to Mr Joorabchian's solicitor following the commission decision, we are confident that the Premier League would have suspended Mr Tevez's registration as a West Ham player.

"We have no doubt that those (Tevez's) services were worth at least three points to West Ham over the season and were what made the difference between West Ham remaining in the Premiership and being relegated at the end of the season."

The inquiry means West Ham or individuals could face further disciplinary action but the club say they have nothing to hide from the new inquiry.

Club insiders acknowledged the need to investigate Griffiths' findings but say they are convinced they can provide the evidence to prevent further disciplinary action.

A club statement said: "West Ham United will co-operate fully with the joint inquiry convened by the FA and Premier League.

"We have acted in good faith throughout the various inquiries and investigations into this matter and fulfilled the undertakings given to the Premier League following the initial penalty.

"We have nothing to hide and will ensure that this is once again reflected in our evidence to the FA and Premier League."

The Blades are claiming up to £50million compensation from West Ham as a result of winning the case, and the final figure will be decided by the tribunal some time in the spring.

West Ham have stood by Duxbury since the arbitration tribunal and said his position is not under review.

-PA