Bjorgolfur Gudmundsson insists West Ham United won't be affected by Iceland's banking troubles.

The Telegraph says Hammers owner Gudmundsson has reassured fellow directors that the club's finances will not be affected by Iceland's troubled banking sector.

It follows the announcement earlier this week that Straumur-Burdaras, the investment bank, has agreed a $537 million (£300 million) deal to buy assets from Gudmundsson's Landsbanki, Iceland's oldest and second-largest bank.