The Italian entrepreneur was previously in the running to purchase the East London club prior to David Gold and David Sullivan taking the reins in January 2010 but has revealed that a fresh bid could be on the cards.
"I was attacked by the journalists in order to justify a choice that has revealed itself to be unhappy for West Ham," he told Italian newspaper Gazzetta Dello Sport.
"The current owners have speculated with the affection of the Hammers' fans.
"They even tried to do housing business with the sale of the actual stadium.
"The West Ham fans are exceptional. I started this project because I was attracted by the atmosphere of the Hammers.
"This is why I'm so disappointed for this relegation. But it was predictable."
He added: "I am saddened for the West Ham fans. They did not deserve to be demoted.
"But if they want to I could take over the club even though they will be in the first division."