London/New York, Oct. 18 : An American consortium has launched a 100-million-pound to bid to buy the troubled English football club West Ham.

The London-based Inter-market Group began negotiations on Friday night and are confident of landing the club in time to hand boss Gianfranco Zola a substantial budget for the January transfer window.

According to The News of The World, the multinational consortium is made up of wealthy West Ham fans and is led by Inter-market Group chief executive and Wall Street mogul, Jim Bowe.

Bowe is the former head of the New York Board of Trade and is a hugely successful businessman in his own right.

He was recruited specifically to oversee the deal and the group made contact with Andrew Bernhardt, chairman of CB Holdings, the company that runs West Ham.

The bid is being prepared in New York.

"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,” Bowe was quoted, as saying.

"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,” he added.

"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 fan base, academy and playing staff. The people involved have the money required, and, more importantly, the right sentiments,” he said. (ANI)