West Ham insist no takeover bids have been received

West Ham today maintained there has not yet been any new formal takeover bid for the Barclays Premier League club.

There have been reports both David Sullivan, who recently sold his stake in Birmingham, and the London-based Intermarket Group were ready to launch a move to buy the Hammers, who like most clubs have a high level of debt.

However, despite current owners CB Holdings - a company arm of Icelandic investment bank Straumur - being open to potential offers, which would have to be in excess of £100million, as yet an immediate takeover is not currently on the agenda.

A West Ham source told Press Association Sport: "There have been no significant developments at all, and no formal offer from any party.

"The club still envisage the sale will be a medium to long-term initiative."