According to Sky Sports, Staveley, who previously backed PIF's takeover of Newcastle, is seeking to raise funds before entering formal talks to buy part or all of the 25.1 per cent owned by the Gold family.
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Any potential deal isn’t expected to be straight forward, however, depending on whether Staveley can raise funds.
There is also the matter of pre-emption rights which dictate that West Ham's existing investors have first refusal on any shares which change hands.
The Championship club announced that Czech businessman Daniel Kretinsky was set to become West Ham's biggest shareholder after agreeing a deal to buy the Gold family's share in the club in June.