WEST HAM are set to move into a new era with chairman Bjorgolfur Gudmundsson set to be removed from his position as early as this week. The club is set to be taken over by the debt-ridden businessman s creditors, with Icelandic bank Straumur in talks to p

WEST HAM are set to move into a new era with chairman Bjorgolfur Gudmundsson set to be removed from his position as early as this week.

The club is set to be taken over by the debt-ridden businessman's creditors, with Icelandic bank Straumur in talks to put their men in charge of the Premier League outfit.

The deal should bring a period of stability to Upton Park, but with no new buyers in the offing because of the credit crunch, West Ham are likely to need to sell players if they want to bring some in.

Manager Gianfranco Zola suggested on Sunday that he had not made any decisions about the futures of some of his players, but it now seems that his plans are beginning to be put into place.

Lee Bowyer, Kyel Reid, Walter Lopez and almost certainly Calum Davenport are set to leave.

Goalkeeper Jan Last-uvka has already revealed that West Ham are not prepared to shell out in the region of �2.6million to sign him from Shakhtar Donetsk.

He said: "Zola said that he would have liked to have me in his squad next season, but the club cannot afford to pay me so much.

"I will not comment on the fee, but it is very high considering I basically didn't play all year."

It seems that Zola may be all sweetness and light on the surface, but behind the scenes, he can be ruthless.

Expect more to come, with the futures of Diego Tristan and David Di Michele to be decided shortly.