Pressure for West Ham to be sold this summer is set to increase after their Icelandic chairman's personal liabilities were revealed as a staggering £301million.

Bjorgolfur Gudmundsson does not even know if he will be able to keep his house in Reykjavik as the full extent of his financial collapse became apparent.

A consortium of creditors led by Icelandic bank Straumur - which is itself in financial difficulties - is in talks about taking over West Ham, though control may end up in the hands of an asset management company appointed by the Icelandic government.

His situation is so severe that creditors are understood to be keen to cash in on the club, which is one of his few remaining assets.

Gudmundsson said: "I have everything on the line - personal liability extends to all of my assets. I must admit that I'm a little lost."