West Ham chiefs in no rush to sell

Published Dec. 23, 2009 9:40 a.m. ET

foxsports

Former Birmingham owners David Gold and David Sullivan have tabled a £50million takeover bid, which is understood to be around half the club's own valuation. Gold and Sullivan are reportedly ready to provide Gianfranco Zola with a £20million January transfer fund to improve a squad currently struggling to escape the Premier League relegation zone. However CB Holding have told the West Ham board they are in talks with a number of interested parties and are under no pressure to rush into any deal. The investment bank's financial position was strengthened on December 11 when the District Court of Reykjavik granted their parent company Straumur Bank a moratorium on their debts until September. In a club statement, West Ham said: "Our shareholder CB Holding has made it clear it would like to find new owners for the club in the next three years and that is still the case. "In recent months we have had a number of approaches from parties interested in investing in West Ham United. "The club have held a number of discussions with those parties and talks are still ongoing. "CB Holding is not under pressure to conclude an agreement in the immediate future, but the club will keep supporters informed of any developments when appropriate."