West Ham chief Scott Duxbury says Carlton Cole's new contract is proof the club is financially sound.

He said: "I am delighted Carlton has agreed a new five-year contract and committed his long-term future to the club.

"He is a major part of Gianfranco Zola's plans and he deserves this new deal for his continued good form and dedication to the West Ham United cause.

"This news underlines that as a club we are thinking only of moving forward and are on a sound financial footing.

"We have a clear football project and have invested heavily in the medical and technical departments.

"That is paying dividends, and securing key players on long-term contracts is a major part of this project."