West Ham United's finances will be secured this week.

The Sunday Mirror says Bjorgolfur Gudmundsson's reign as West Ham chairman and owner will end in the next few days.

Straumur, the Icelandic bank that lent the businessman the funds to buy the club in 2006, are poised to take control.

The takeover will ensure the club is financially secure.

Funding will be made for the purchase of a new training ground.

Straumur will back the club's management of Gianfranco Zola and Steve Clarke in charge of team affairs with Scott Duxbury as chief executive and Gianluca Nani as technical director.