West Ham United co-owner David Sullivan has labeled Malaysian entrepreneur Tony Fernandes' attempts to purchase a controlling share of the club as 'desperate'.
The Air Asia founder and owner of Formula One outfit Team Lotus is keen to buy out 51% of the relegated Hammers but Sullivan has revealed that his offer was nowhere near what the East London club was looking for.
"Tony Fernandes wanted to buy 51 per cent of the club for two bob," Sullivan told the Evening Standard.
"He thinks somehow that we are desperate to have him involved or desperate for the small amount of money he offered for 51 per cent of the club.
"We are not looking to sell the club but, as we have always said, we would love co-investors to join us in rebuilding West Ham United, which has been our aim ever since we took charge back in January 2010," he added.
"In the event that a serious investor came forward as was the case at Chelsea and Manchester City, we would naturally consider it for the good of the club - but this is certainly not the case in this instance."