Former Birmingham City co-owners David Sullivan and David Gold have set West Ham United a deadline to accept their offer.

The News of the World says they will pull the plug on West Ham takeover talks on January 7.

The club's agents, Rothschild Bank, have been made aware that if a deal isn't agreed by then the pair will pull out.

The two Davids have made it clear that for the Hammers to have any chance of Premiers League - and therefore financial survival - they have to get players in next month's transfer window.

A highly-placed Upton Park source said: "David Gold wanted to end things on Christmas Day but given the business hours difficulties at this time of the year he's been persuaded to extend the deadline.

"Both men want to give Gianfranco Zola the chance to bring in the players who can lift the club away from the relegation zone and they know from their days at Birmingham how difficult that can be.

"If they not have taken control by the 7th they know it will be nearly impossible to get anything done and they aren't going to preside over a club that is heading for financial disaster in the Championship!"