Cagliari President Massimo Cellino has confirmed he “could buy up West Ham even if they are in the First Division.”
The businessman had already been in advanced negotiations to take over the Hammers in January 2010, but talks fell apart.
He had planned to invest €55m and even booked Coach Massimiliano Allegri – now a Scudetto winner at Milan – for the bench.
“Some bad things happened at that time,” declared Cellino, who was passed over in favour of David Sullivan and David Gold.
“I was attacked in the newspapers so they could justify a decision that proved to be terrible for West Ham.
“The current owners took advantage of the affection that the Hammers fans have for their club. They tried to do business by selling off the area around the current stadium.
“I had started this plan precisely because I was so drawn to the exceptional West Ham supporters. Therefore it is very sad to see them relegated, although it was predictable.
“The fans did not deserve this, but if they want me to, I could buy up West Ham even if they are in the First Division.”
Cagliari secured mid-table safety early in the Serie A campaign, but have lost their last four on the bounce.
“I did not like the end of this season and I know what I'm like. When I act with my instinct, I risk making mistakes.
“I will make some decisions on Cagliari later on, but I don't know what yet. Let it be known the last few months have made me reconsider some things.”
Think you know your Italian football? Share your knowledge, tips and comments to win cash prizes in OLBG's tipster competition  - £11,000 to be won monthly!