West Ham set to snub Sullivan and Gold as £46m offer falls short

The feeling is that Gold and Sullivan are trying to get the club on the cheap and there is dismay that facts about the offer have appeared on the day of a vital match for Gianfranco Zola's struggling team. West Ham travel to Bolton tonight lying third from bottom of the table — one place above the hosts.

The pair were also aware that Straumur will discover today if a district court in Reykjavik has granted an extension until September 2010 to pay its creditors. If that decision goes against the bank, it may have little choice but to accept the only offer on the table.

That may not be a bad thing, according to Lee Bowyer, who left the Hammers for Birmingham this year. "If the two of them can do to West Ham what they did for Birmingham over a lot of years, it will be a great move for West Ham," said the midfielder.

"I'll always support West Ham. I'm sorry to see them at the bottom of the Premier League and anything that can help them will be good."

Gold and Sullivan took charge at Birmingham in 1993 when the club were in financial turmoil and, after dropping down to the third tier of football for a short spell, gradually established them as a Premier League side.

They sold the Midlands club for £82m in October and had hoped to hand Zola some much-needed transfer funds.

Of the £46m offered, £20m was to go straight to Straumur, £4m to pay off the money owed to Sheffield United for the Carlos Tevez affair and £3m to pay off former boss Alan Curbishley. But the bid, submitted to Rothschild and
Standard Bank, falls well short of Straumur's valuation and makes little provision for the West Ham's estimated £40m debts. The decision to grant a nine-month extension to a debt moratorium will ease pressure on a quick sale of the club but will mean Zola has to sell before he can buy in January.

Zola is in pressing need of a striker and a full-back but may have to sacrifice either or both of his England internationals, Matthew Upson or Robert Green, in order to finance any deal in January. Of more immediate concern to Zola is tonight's clash with Bolton at the Reebok Stadium.

"It is down to us to impose ourselves on the match and make sure we can cope with their style," said Zola. "I am sure the players know the importance of the match. We will be ready."
Midfielder Mark Noble is suspended for the game and his place is likely to be taken by Jack Collison, while a late decision will be made on Upson, who has a hamstring problem.