New West Ham owner Eggert Magnusson is to discuss the possible signing of Shaun Wright-Phillips with Chelsea chief executive Peter Kenyon.
Magnusson, who has completed an £85million takeover of the Upton Park club, has promised manager Alan Pardew money to spend in the January transfer window.
Winger Wright-Phillips, who has started just 15 of 51 appearances for the Blues following his £21million move from Manchester City in the summer of 2005, is understood to be top of the wanted list.
'He has not been playing regularly at Chelsea, but he's a good player and he has great possibilities to do well,' said Magnusson on BBC Radio 5 Live's Sportsweek programme.
'Alan has told me he has already asked Chelsea about him. It came out of Chelsea that we have shown an interest, but it has not gone any further.
'I know Peter Kenyon well and I think we will sit down and try to find the right fee, whatever that might be.'
The Hammers have also been linked with David Beckham, who is struggling to command a regular place at Real Madrid under coach Fabio Capello.
A wary Magnusson added: 'This is the first I have heard about him linked with West Ham.
'The way he has played at Manchester United and Real Madrid, he is a great player, and it's an honour he has been linked to West Ham.
'I might be the incoming chairman at West Ham, but the manager is the one who changes the team.
'It's his responsibility to build that team. You just can't build a football team with superstars.'
That leaves a huge question-mark over the futures of Javier Mascherano and Carlos Tevez.
The Argentinian duo were surprisingly signed on transfer deadline day from Corinthians, yet their contracts are owned by a third party.
'That's another discussion I'll have with the manager this week,' said Magnusson.
'We will try to sort out the situation with them, but it's not easy to come to England when you don't speak the language.
'It's a totally different mentality, but it's up to the manager. He has to decide what to do with them.
'But they have the ability to succeed in England. We will tackle the problem.'
Magnusson has also confirmed his aim to move to the Olympic Stadium following the 2012 Games.
'That's my dream at the moment,' said Magnusson.
'But we have to start discussions and see what can be done.
'We know we have to keep to the athletics legacy that has been promised after the Olympics.
'Look at the Stade de France, which is a great venue, and you can compare it very well.
'I know we bought West Ham with where they are now, at the Boleyn Ground, but looking at the future this is definitely the way we want to go.'