Bjorgolfur Gudmundsson is reportedly putting the feelers out to see what he might be offered for West Ham.
The owner has reportedly signed non-disclosure agreements with "five to 10 parties" who will now be able to look at the club's books.
Vice chairman Ausgier Fridgeirsson told BBC Sport: "This is part of the ongoing process of Mr Gudmundsson reviewing his assets. But he does not need to sell West Ham and still might not do."
Fridgeirsson said West Ham were talking to potential buyers in order to establish the club's market value.
Once this is done, Gudmundsson will decide whether or not to sell.
The agreements fall short of due diligence, which would give prospective buyers full access to the club's accounts.
Several of the interested parties have put in opening bids for West Ham but these have fallen well short of the amount Gudmundsson would want.
According to court documents in Iceland filed by his holding company, Hansa, the 67-year-old values West Ham at £250m.
Wednesday, 17 December 2008
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