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West Ham owner Gudmundsson already rejected three offers

West Ham United owner Bjorgolfur Gudmundsson has rejected three takeover offers.

The Mirror says Gudmundsson and his associates have dismissed the bids out of hand as they are way short of their £120million valuation.

Any prospective buyers would also have to take on the club's debt, believed to be in the region of around £50million. But the combined total of £170million for West Ham still falls way short of the £400million Newcastle owner Mike Ashley wants to sell up.

Gudmundsson is trying to sell before he is bankrupted by a £30m claim for damages from Sheffield United over the Carlos Tevez affair.

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