West Ham United are facing the threat of administration, it has been revealed.
The News of the World says the Hammers have just a month to find a buyer willing to bail them out or face the threat of administration.
The financial crisis at Upton Park is so acute following the collapse of Icelandic owner Bjorgolfur Gudmundsson’s Landsbanki that several members of the club hierarchy believe the Hammers could go to the wall unless a takeover can be engineered.
An Upton Park insider said: “Nobody knows what’s going on except that the place is in turmoil.
“The players are now wondering if their wages are guaranteed, boss Gianfranco Zola knows he’s going to have to sell in January and people believe Gudmundsson will have no other choice but to sell the club.
“We’ve been told there is somebody waiting to buy but also that it has to happen quickly or the club is in a desperate situation.”