Consortium linked to West Ham bid

The newspaper claims the London-based Intermarket Group began negotiations on Friday with a view to buying the Barclays Premier League club before the January transfer window.

Wealthy West Ham fans are believed to comprise the consortium which is being headed up by Wall Street businessman Jim Bowe, Intermarket Group's chief executive and a former head of the New York Board of Trade.

CB Holding, an Icelandic holding company made up of banks owed money by the Hammers' previous owner Bjorgolfur Gudmundsson, currently own the London club but have indicated they would consider selling at the right price.

"My colleagues and I have been approached by the consortium with the aim of buying West Ham in its entirety," Bowe told the News of the World.

"We are not interested in just taking on the debt, or securing a percentage. We want to get West Ham back on track for the upper echelons of the Premier League.

"We want what the fans want and there is no restriction on us as to how we achieve that aim. We are in the early stages of our discussions with the club.

"But we are optimistic that we can develop a proposal that will benefit all parties. The best deal is the deal where everyone feels that they've won.

"The consortium comprises West Ham supporters who have made serious money in the City, the United States and elsewhere and who see the potential in the club, its fanbase, academy and playing staff.

"The people involved have the money required, and, more importantly, the right sentiments. They have no interest in interfering with the playing side of things, but they will make money available in the January transfer window."