West Ham's leading shareholder CB Holding have insisted they will not succumb to potential investors chasing a cut-price deal. Former Birmingham owners David Gold and David Sullivan have tabled a £50million takeover bid, which is understood to be around half the club's own valuation.

CB Holding have told the West Ham board they are in talks with a number of interested parties - but stressed they are under no pressure to rush into any deal.

The investment bank's financial position was strengthened on December 11 when the District Court of Reykjavik granted their parent company Straumur Bank a moratorium on their debts until September.

In a club statement, the Hammers said: "Our shareholder CB Holding has made it clear it would like to find new owners for the club in the next three years and that is still the case.

"In recent months we have had a number of approaches from parties interested in investing in West Ham United.

"The club have held a number of discussions with those parties and talks are still ongoing.

"CB Holding is not under pressure to conclude an agreement in the immediate future, but the club will keep supporters informed of any developments when appropriate."