Former Birmingham City co-owner David Sullivan is refusing to go higher than £80 million for West Ham United, it has been revealed.

The Daily Express says Sullivan is prepared to pay only £80million to take over West Ham - but the club's owners are holding out for a bigger deal.

The former Birmingham co-owner and long-time Hammers fan has opened negotiations with West Ham's owners CB Holdings, who want nearer £140m despite being desperate to get a takeover completed before Christmas.

Sullivan, having studied the stricken club's financial situation, is reluctant to increase his offer, reasoning that the club are about £45m in debt. They also lost more than £33.6m last year.