West Ham United's new board have already wiped a massive £15 million from the club's debt.

The Mirror says Gianluca Nani is set to leave West Ham in the next 24 hours as the latest victim of the Hammers' cost-cutting which already wiped £15million off the club's huge debt.

Nani, 47, was brought in as the Hammers' sporting and technical director in June 2008 on a lucrative three-year contract.

And the Italian is very close to compatriot Gianfranco Zola after helping recruit him as boss.

But new West-Ham joint chairman David Sullivan is desperate to reduce the Upton Park club's debt further from £95m after inheriting debts of £110m last month.