West Ham United insist their financial situation won't affect Gianfranco Zola's transfer plans.

Hammers vice-chairman Asgeir Fridgeirsson has conceded owner Bjorgolfur Gudmundsson is to review his position at the club due to the global financial crisis which has affected several of the companies in which he holds a stake.

The situation has prompted renewed speculation that manager Gianfranco Zola will be forced to sell players in the New Year to raise funds.

But the Hammers' chief executive Scott Duxbury insists there is no need to panic and that Zola has a free hand to decide which players will be leaving Upton Park.

"It's business as usual," Duxbury told the club's official website. "Like all businesses we have been affected by the current economic climate, but we're in a strong position financially and are a well-run club. Everyone here, from the playing staff to those in the back office, is focused on building for success.

"The business plan and the prospects for the development of the club have never been clearer.

"We are looking forward to a bright and successful future and this applies especially to playing matters and the support for the manager Gianfranco Zola. We have a talented squad with a healthy mix of elite internationals and homegrown youngsters, plus more coming through from the Academy.

"All talk of firesales to raise revenue, and having to sell players for reasons other than football ones, is simply not true.

"Gianfranco made it clear when he joined us the playing squad was too large and can be better managed, and be more successful, if it is reduced. That's why players might be sold and the manager will decide what happens.

"It's about having quality rather than quantity and he is happy with what he has at the moment."