West Ham manager Alan Pardew has distanced himself from suggestions that he threatened to walk out of Upton Park unless the struggling Barclays Premiership club scrapped a proposed £70million takeover bid.

West Ham's board of directors held a meeting on Wednesday to discuss the latest developments in the saga which has been bubbling for more than a year since investment company MSI first revealed an interest in securing a controlling interest in the east London club.

Speculation mounted again after Iranian businessman Kia Joorabchian brought Argentinian World Cup stars Carlos Tevez and Javier Mascherano to Upton Park from Brazilian champions Corinthians for an undisclosed fee just before the close of the August transfer window.

Since then, West Ham, early-season pacesetters in the Premiership, have drawn at home with Aston Villa before suffering five consecutive defeats as the South American duo struggled to settle into English football.

Joorabchian, formerly a high-profile employee of MSI - who have a controlling interest in Corinthians - said he has been seeking financial backers to become prospective new owners including an Israeli businessman, a property developer, who was reported to have an interest but admitted he knew nothing about football.

That position appears to remain unchanged - with West Ham, mainly because of Stock Market regulations, still making no firm comment, despite suggestions they have told Joorabchian to make a firm offer or forget any deal.

Meanwhile, Pardew - reported to have told the board he was sick of interference from the prospective new owners and had to be talked out of quitting - said: "I absolutely did not threaten to resign in any shape or form.

"I have a good working relationship with the board and we are working hard to turn the current situation, the poor results, around."

The manager's statement came through the club's public relations consultants Phil Hall Associates, who also represent Joorabchian.

Pardew has admitted last week telling chairman Terry Brown that settling the takeover discussions as quickly as possible would be desirable for all parties.

Brown has to look seriously at any proposed offers to further the club's ambition to move up to a higher level and, like his manager, is disturbed by the downturn of events on the field.

Pardew, who vowed to continue to pick the team on merit immediately after the South American duo arrived, dropped striker Tevez to the substitutes' bench for the 2-0 defeat at Manchester City last week which followed West Ham's first round exit from the UEFA Cup in Palermo.

Midfielder Mascherano was an unused substitute in Sunday's home defeat by Reading.

But defender Christian Dailly insists Hammers will soon climb the table if they continue to perform as they did against Pardew's former club at the weekend.

The Scottish international said: "I don't think we've had another game this season where we've played as well as we did against Reading over the entire 90 minutes.

"That was definitely a step forward, especially after the way the game started.

"It (Reading's goal) was a real sucker-punch in the first minute, they didn't have another chance in the whole game.

"If we can restrict teams to a single 30-yard shot and play with that sort of tempo and desire from now on we will be totally fine.

"There is no point in pressing any panic buttons."