A source close to Gold has told Sky Sports News that part of the cash bid will go to the Icelandic owners and the rest will service the current debt and provide transfer funds in January. The bid has been submitted to Rothschild and Standard Bank, who were appointed to find new owners back in October. It is understood the current management team of Gianfranco Zola and Steve Clarke have the full backing of Gold and Sullivan. The former Birmingham owners are in the final stages of talks and are keen to conclude a deal by Christmas to allow Zola to strengthen his squad. The Hammers currently lie in the relegation zone, with just one win from their last 14 top-flight games. Gold ended a 16-year association with Blues after selling up, along with fellow co-owner Sullivan, to Hong Kong businessman Carson Yeung. The pair had been linked with a bid for West Ham and when specifically asked about the Hammers back in October, Gold told Sky Sports: "I wouldn't dwell on the problems or previous owners. "What I would say to you is that travelling to Birmingham City Football Club and now having left them, it's a three-hour journey to get there and a three-hour journey to get back. "So I'd like to change that, now that I'm making a change in my life. I wouldn't want to go north of Watford to a new club. "Is West Ham south of Watford? Yes it is, but so is Brighton, Charlton, Southampton - there's lots. "And it depends - it's also a question who wants us? I think we are a formidable trio - (former Birmingham managing director) Karren Brady, David Sullivan and myself. We've got a fantastic history of what we've achieved."
