The London Daily News

Sports Desk

The Icelandic owner of West Ham United Bjogolfur Gudmundsson is looking at making a profit of £163 million by selling his stake in the club, according to The Guardian sports writer Sachin Nakrani.

Originally West Ham was purchased  for £87 million in 2006, now Gudmundsson is looking to sell his 41 per cent stake in the club for £250 million a figure according to the Guardian which is "unrealistic in the current financial climate".

Pressure will be on the West Ham owner according to the Guardian as the company run by Gudmundsson, Hansa is due to face action by creditors on 6 March in an Icelandic court, or face the potential of being declared insolvent.

The club has been rumoured to be attempting to sell key assets like striker Craig Bellamy who is a "top target" for Harry Redknapp the Spurs manager, an offer of £6 million has been rejected by the Hammers.

According to the Guardian's sources "nine potential buyers are said to have shown an interest in buying the club".