Fernandes, the Malaysian businessman behind AirAsia and the Lotus Formula One team, announced he had submitted an offer for the club he supports.
But Sullivan said on Thursday: 'Tony Fernandes wanted to buy 51 per cent of the club for two bob.'
No joke! Tony Fernandes has slammed David Sullivan for accusing him of making a 'two bob' bid for West Ham
Fernandes, though, fired back with a series of messages on social networking site Twitter. 'Make up your mind sullivan and gold. One minute you say no offer then you say its a joke offer. It was a good offer with good money and brought in good people.'
Three follow-up messages said: 'Gold and sulivan can say whatever they want. I have been a lifelong fan and would have brought good money , good ideas, new people and a new belief
'As for PR stunts. Wow. They are always in the press making huge claims. Were we not supposed to be in europe. Now we have been relegated. 2 sacked managers. All good players will be sold.
'No new trainning ground which is the most important ingredient I feel. Look at how many injuries we have. And more investment into the academy.'
Pathetic! West Ham co-owner David Sullivan says he is no taking Fernandes' offer for the Hammers seriously
Sullivan had said: 'He thinks somehow that we are desperate to have him involved or desperate for the small amount of money he offered for 51 per cent of the club.
Fernandes first expressed an interest in taking over West Ham in 2009 but he lost out on that occasion to Sullivan and his business partner David Gold.
Sullivan and Gold do want to attract new investors into a club that is saddled with debts that could rise to over ?100million following relegation from the Barclays Premier League.
'We are not looking to sell the club but, as we have always said, we would love co-investors to join us in rebuilding West Ham United, which has been our aim ever since we took charge back in January 2010,' said Sullivan.
"In the event that a serious investor came forward as was the case at Chelsea and Manchester City, we would naturally consider it for the good of the club - but this is certainly not the case in this instance.'
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