Dubai tycoon Mohammed Al Hashimi today insisted he would rather buy Charlton than West Ham.

Hashimi's company Zabeel Investments is in advanced negotiations about a £50 million takeover at the Valley, but have also been linked with a move for the Hammers, whose chairman Bjorgolfur Gudmundsson is under financial pressure due to the credit crunch.

Although Zabeel considered a number of English clubs before deciding to pursue Charlton, a spokesman for Hashimi today insisted that not even a phone call has been made to Upton Park since last Friday's announcement of “an indicative offer” for the south London club.
The spokesman added: “There is no truth to reports that Zabeel Investments made an approach to West Ham yesterday.

“Zabeel Investments has not approached any club since it made an indicative offer for Charlton Athletic last Friday, nor has it authorised any approach on its behalf.

“Zabeel Investments is currently in the due diligence phase of its offer to Charlton Athletic”
Gudmundsson, who was reported to have rejected Zabeel's interest, has seen his personal finances badly hit by the collapse of Landsbanki, Iceland's second-biggest bank, in which he was a large shareholder.

The fall-out has led to speculation that West Ham - which cost Gudmundsson £85million two years ago - could be sold.

Meanwhile, the Hammers are said to be close to securing a new £4m-a-year shirt sponsorship deal. The club have been without a sponsor since the collapse of travel company XL last month.
West Ham also plan to appeal to the High Court this week against the ruling that they must pay compensation to Sheffield United over the Carlos Tevez affair.

An independent tribunal ruled in United's favour last month, leaving West Ham open to a claim in excess of £30m from the Championship club. The club have also asked the Court of Arbitration for Sport to examine the decision.