A Malaysian businessman is favourite to buyout West Ham United.

The Telegraph says the process of sifting through potential investors - and would-be buyers - is almost complete and the strong likelihood is that the banks will be stood down without a deal being done.

Talks have taken place with at least three parties: Malaysian entrepreneur Tony Fernandes, former Birmingham City co-owners David Sullivan and David Gold and a consortium fronted by a company called the Intermarket Group.

Fernandes, the founder of Air Asia and a West Ham fan, has been the closest to taking a stake and was even introduced to Zola. Indeed, at one stage it appeared likely he would acquire a 51 per cent stake in the club.

West Ham chairman Andrew Bernhardt even flew to Kuala Lumpur to try to seal the deal but an agreement on price could not be reached. Fernandes remains interested and has been back in contact with Bernhardt but, as yet, nothing has been settled.