David Sullivan claims Gianfranco Zola has 'indicated' he may resign, but insists no decision has been taken on the West Ham manager's future.
Zola's position at Upton Park has come under intense scrutiny this season following the Hammers' brush with relegation from the Premier League.
The takeover of Sullivan and David Gold midway through the campaign prompted further rumours that the Italian could be axed in the summer.
Sullivan says the board have not reached a conclusion regarding Zola's future, but believes the former Chelsea star has been considering his position at the club.
"No decision has been made," Sullivan told the Daily Telegraph.
"He did indicate he might resign at the end of the season, but he might well have changed his mind.
"In interviews he has not committed his future to the club beyond the end of the season."
The Hammers are also braced for a summer upheaval after Sullivan revealed that he is prepared to listen to offers for every player, except influential midfielder Scott Parker.
He added: "Zola has repeatedly said he's a coach and doesn't want to be involved in the selection of players for the club.
"I'm sure he'd accept the departure of any player if we brought in a better one.
"We've had no offers for any players. This year's performances have not been good enough and some players will stay and others will go.
"We will do deals that make financial sense for the club."
