With Bjorgolfur Gudmundsson now sole chairman and executive chairman following Eggert Magnusson's decision to step down and sell his 5% shareholding, the new sole owner of West Ham wants to push ahead with a move to a new £250million, 60,000-seater stadium - a site has been identified at an old Parcelforce depot next to West Ham tube station.

Gudmundsson said, "We are seeking to build some truly solid foundations for the future ambitions of West Ham United FC. This is a great football club with tremendous heritage and tradition and the most wonderful set of supporters.

"My job as owner is to help plan for the future and create the right conditions off the field to help Alan Curbishley and the playing squad deliver success on the field.

"I am particularly delighted that we have been able to take the first real step in our plans for a new stadium, which is crucial to the long-term ambitions of the club."