New West Ham United co-owner David Gold fears the club would go into freefall if they are relegated this season.

Gold and David Sullivan became joint-chairman at Upton Park last month after paying £25million a piece for a controlling stake in the club.

Gold admits relegation would be a total disaster as the club's debts are £110million and fears they could end up in financial turmoil like Leeds who went down in 2004.

"Fans are expecting and we have to deliver," said the 73-year-old Essex-based tycoon. "For pride and financial reasons it would be desperate if we were relegated and will shatter our dreams.

"Whilst in the past we have got Birmingham City promoted, we have always budgeted for relegation just in case. We ensured if we did ever get relegated that we were favourites to get promoted which we did on two occasions.

"But in this case we have inherited the club and it doesn't bear our trademark of prudence. There is no question relegation would be a complete disaster for West Ham United.

"It is right to concern ourselves and right to work hard to improve the situation both in results and in preparing ourselves for the unthinkable. The last time a club like West Ham was relegated with this type of debt was Leeds.

"They went from one disaster management team to the next and went from disaster to disaster."