According to the Sunday Mirror and the News of the World the consortium led by American businessman Jim Bowe have opened negotiations with the Hammers’ non-executive chairman Andrew Bernhardt and are looking to bring a swift conclusion to the takeover.
Bowe told the Mirror, “My colleagues and I have been approached by the consortium with the aim of buying West Ham in its entirety."
"We are not interested in just taking on the debt, or securing a percentage. We want to get West Ham back on track for the upper echelons of the Premier League.
"We want what the fans want and there is no restriction on us as to how we achieve that aim. We are in the early stages of our discussions with the club.
"But we are optimistic that we can develop a proposal that will benefit all parties. The best deal is the deal where everyone feels that they've won.
"The consortium comprises West Ham supporters who have made serious money in the City, the United States and elsewhere and who see the potential in the club, its fanbase, academy and playing staff.
"The people involved have the money required, and, more importantly, the right sentiments. They have no interest in interfering with the playing side of things, but they will make money available in the January transfer window.
"They also possess the expertise to see West Ham restructured and organised in a way that will help the club realise its potential. Fortune has been hiding for too long."