Former West Ham star Trevor Sinclair believes the club is worth much more than a consortium have sought to buy it for.
A group of UK-based investors have made a takeover bid, which has been rebuffed by majority shareholder David Sullivan.
Former QPR chief executive Philip Beard is part of the consortium, which offered in excess of £400m.
Sinclair insisted on Talksport that the group should be expected to pay considerably more – largely because of the club’s location.
He was asked by former Crystal Palace chairman Simon Jordan why he was suggesting that West Ham are worth significantly more than Newcastle, who have also been the subject of a takeover bid.
Sinclair replied: “I think London. Because it’s an international mega-city.
“Any player who’s looking to come to England – most foreign players – (ask) ‘How far is it from London?’
“London is an iconic city that people want to live in. Simple as that. And Newcastle’s not – without being disrespectful.”
💷 𝗧𝗿𝗲𝘃: “The bids have to go way above £500m or £600m.”
🤔 𝗦𝗶𝗺𝗼𝗻: “Why would they be valued at twice more than #NUFC?”
🙏 𝗧𝗿𝗲𝘃: “London! It’s an international mega city that players want to live in.”
— talkSPORT (@talkSPORT) July 21, 2021
Beard was at QPR during the ill-fated early stages of Tony Fernandes’ ownership of the west London club.
Fernandes, a West Ham fan, himself tried to buy the club he supported but was rebuffed by Sullivan and David Gold.
The Malaysian later turned his attention to Rangers and installed Beard to take day-to-day charge at Loftus Road when a takeover from Flavio Briatori was completed in the summer of 2011.
Beard had previously worked as part of the London 2012 bid and was chief executive of the O2 Arena.
He worked on the redevelopment of Greenwich Park – and a similar revamp of the area around the London Stadium is said to be part of the group’s West Ham bid.
The club have said that no formal offer has been made.