West Ham have not received a bid from Reading for Carlton Cole, although the Hammers could yet look to offload the striker.
Reading, who are part-funded by Russian money, would need to stretch to £5 million for Cole, plus another £4m a season in wages.
The Hammers are open to a sale, particularly after spending £10.75 million to buy Matt Jarvis from Wolves.
Reading, though, would insist on staggered payments, due to 28-year-old Cole's injury problems in the past.
Cole has previously come close to leaving the East London club, but it remains to be seen if the forward would be interested in switching to Reading.