London-based finance company Intermarket have stepped up their bid to takeover Premier League strugglers West Ham United after providing proof of their funds to the club’s creditors.
The company, who declared interest in the Hammers several weeks ago, were not considered serious bidders, but have now satisfied CB Holdings they have the finances to complete a deal.
CB Holdings took over the club after former majority shareholder Bjorgolfur Gudmundsson filed for bankruptcy in June 2009, following the collapse of his banking empire during the height of the recession.
Founding Intermarket director David Byrne has insisted his company's bid is serious and will be backed by a group of investors and high net-worth valued individuals.
Byrne told the DailyTelegraph: "Some people were dismissing us as not being serious bidders but we are. We have satisfied them [Rothschilds] that we have proof of funds." "We have definitely got the interested parties with the money needed to do what we need to do and get in some funding to stop West Ham having to sell players and make sure they can strengthen to be able to avoid relegation.
"We are West Ham supporters and are deadly serious and we believe we have satisfied Rothschilds that we are serious."
CB Holdings are keen to sell the Upton Park club to pay off their rising debts and have reportedly set a £100million asking price.
Several parties are interested in acquiring the East London club and have made inquires, one from the US and the other based in Asia.
Byrne expects to take a look at the club's books sometime next week before attempting to finalise a deal before the club's meeting with its creditors on December 11th.