"On a personal level I am, at times, frustrated by some of the stories which appear in the media suggesting certain salary levels for our players - many of which are simply factually wrong," Magnusson said.

"It is not right to comment on every story or to use confidential information in public but I can say the truth is often different to the reports.

"The bottom line is that this is an ambitious club with a very sound financial base and as new owners we are determined to move forward."

The Hammers are believed to be closing in on the signing of Charlton striker Darren Bent in a reported £17million deal, even if Tottenham are also taking a keen interest in the England international.