West Ham United are expected to reject an offer from Birmingham City's former owners.
David Gold and David Sullivan will make a bid for West Ham United within the next 24 hours that will involve no money being paid directly to the current owners but will guarantee a cash injection for players and urgent debt repayments in exchange for a 50 per stake in the club, and effective control, says the Independent.
Around £20m, contractually guaranteed in return for shares, would be invested in January, if a deal can be pushed through in time. Further funds would be committed later.
"This is almost a rescue package," said a well-informed source with knowledge of the bid. "Any money that they [Gold and Sullivan] put on the table will be used to build up the football club. It's not about helping the incumbents, but helping West Ham, and possibly saving them from relegation."
The offer is likely to be rebuffed. There is a huge disparity between what Gold and Sullivan feel is a sensible way forward, and how the Icelandic owners, CB Holdings, view the situation.
