Buyers line up for £80m West Ham

West Ham could soon see their off-field financial troubles evaporate, according to the Daily Mail, as two potential buyers have emerged for the cash-strapped east Londers.

"West Ham have two potential bidders ready to mount an £80m takeover deal in the wake of the financial meltdown of owner Bjorgolfur Gudmundsson. Companies from the Middle East and the Far East have expressed an interest in a buy-out of West Ham but have yet to commit to the final stage of the deal, due diligence.

"But with the club edging ever closer to being taken over by their creditors, currently led by troubled Icelandic bank Straumur - the principal creditors of West Ham’s parent company, Hansa - a deal could be struck this summer.

"The business empire of Icelandic owner Gudmundsson, once valued at £600m, has been wiped out by the credit crunch and he is slowly losing control of West Ham after Hansa’s creditors agreed to back him only if he could find a buyer by June.

"The club are now faced with the scenario of passing into the hands of the various banks to which they owe money or concluding a quick deal at the end of the season. Manager Gianfranco Zola has been assured of his future if the banks take over as they see maintaining stability and building on the progress being made as the best way to maximise the price of any future sale. It is likely that the companies discussing a takeover would also persist with Zola, given the excellent job he has done with assistant Steve Clarke."