The same day West Ham United chairman Terry Brown granted Icelandic Eggert Magnsusson permission to look at the club’s financials so he could prepare a takeover bid, an unnamed American businessman announced his interest in acquiring the East London club. No more details about the bid were presented, however. Meanwhile, Magnusson’s advisors will report back to him on the financial state of the club after a period of due diligence. That West Ham has opened its books to Magnusson shows how disillusioned the board has become with Israeli real estate magnate Eli Papouchado, says the Telegraph. His consortium has been the favorite to takeover the club for the last three months, but the Israeli, worried about a number of West Ham’s debts, wants to renegotiate the asking price. The Telegraph points out that the idea of a takeover would never have started if the club’s board didn’t believe it could inherit the Olympic stadium that’s being planned for the 2012 games. It would give the club a 60,000-seat stadium in a newly renovated part of the city, which is precisley what makes it an attractive time to sell to a big investor. However, it is by no means a foregone conclusion that West Ham will eventually assume ownership of the Olympic Stadium. In fact, a recent meeting involving London’s Olympic Board failed to gain a single vote in favor of eventually selling the stadium to a soccer club. Previously, West Ham was told a “football solution” would be considered if the club put $190 million on the table. This is why it has turned to investors like Papouchado, who is though to have the $400 million required to complete a takever and put money down for the stadium.