Tony Fernandes is emerging as favourite to takeover West Ham United.

The Telegraph says the Malaysian entrepreneur is hoping to fly to London on Wednesday to conclude a deal and would be a popular owner of the Premier League club.

Intensive talks have taken place for the past two days with the five banks who have loaned money to West Ham - in a refinancing deal that was agreed last autumn - and who have met Fernandes representatives and representatives of the former Birmingham City co-owners David Sullivan and David Gold.

A third party, the Intermarket Group, has continued to register its interest in buying West Ham and although it has not been ruled out it has struggled to prove it has the necessary funding.

Fernandes has not been at the meetings for the past two days but was, it is understood, involved in a detailed conference call on Tuesday with Rothschild, who have been appointed to handle potential investors, and a possible takeover, by CB Holdings, the company that owns West Ham.