 On their return to the top division , West Ham finished in ninth place , The highlight of the 2005 – 06 season , however , was reaching the FA Cup final and taking favourites Liverpool to a penalty shootout after a 3 – 3 draw . West Ham lost the shootout , but nonetheless gained entry to the following season 's UEFA Cup as Liverpool had already qualified for the Champions League . In August 2006 , West Ham completed a major coup on the last day of the transfer window after completing the signings of Carlos Tevez and Javier Mascherano . The club was eventually bought by an Icelandic consortium , led by Eggert Magnússon , in November 2006 . Manager Alan Pardew was sacked after poor form during the season and was replaced by former Charlton Athletic manager Alan Curbishley . 
