Source: Daily_Mail
Gianfranco Zola NOT resigning say West Ham as club is forced to react to player exodus reports
Holding on: Gianfranco Zola
West Ham have been forced to deny that manager Gianfranco Zola is contemplating resigning due to the club's uncertain financial position.
The club's Icelandic owners were also adamant that there will be no mass exodus of the club's star players before the summer transfer window ends.
A report over the weekend suggested that CB Holding, owned largely by Icelandic investment bank Straumur-Burdaras, have told Zola to sell many of his main players before the end of August transfer deadline, prompting he and his assistant Steve Clarke to seriously consider their futures.
A Straumur spokesman today however described the report as 'nonsense' and emphasised there was no change to the club's financial situation from that in June, when the bank assumed ownership of the club from previous chairman and owner Bjorgolfur Gudmundsson.
It is understood though that Zola, who watched his side beat Premier League newcomers Wolves 2-0 at Molineux on Saturday, is becoming increasingly frustrated by the club's inability to bring in strikers, such as Barcelona's former Chelsea star Eidur Gudjohnsen, to boost his threadbare forward line.
Straumur, who themselves have been hit hard by the global recession, have consistently maintained that the club need to be self-financing.
That effectively means that chief executive Scott Duxbury, who has been working hard on trying to bring in new talent during the summer, has to sell before he can buy.
Duxbury and technical director Gianluca Nani have made just one major signing this summer, Chilean Luis Jimenez on loan from Inter Milan and may have to finance other transfers by selling England defender Matthew Upson, who has himself talked about the 'difficult financial climate' at the club.
And the Hammers admit that they would find it hard to turn down a £15million offer for the 30-year-old.
Fellow centre-back James Collins could also be set for a move away from the club, with Stoke City set to land the defender for £5million.
