West Ham chairman Terence Brown will reportedly hold takeover talks with two rival consortiums this week.

According to the The Guardianthe Icelandic group fronted by Eggert Magnusson will make a firm offer believed to be around £75million but there is another bid on the table.

Israeli property magnate Eli Papouchado has been discussing with Rothschilds about acting in his own £70m-plus proposition for the Hammers although the investment bank is currently seeking confirmation of the financing proposals.

It is thought that when this has been secured a meeting with Brown will be requested.

Brown, also the principal shareholder at Upton Park, has been helped by the existence of two serious bidders to convey his unwillingness to accept any offers leveraged with significant debt and that appears to have been taken on board by both parties.