PAI Capital have issued a statement saying a second takeover offer they made for Premier League club West Ham United has been rejected and that they have now ended their interest.
Sky Sports News has learned that owners David Sullivan and David Gold were not the recipients of a second offer for the club from PAI Capital and, in any case, have no interest in selling the club.
Sullivan and Gold turned down an informal approach from PAI to buy West Ham earlier this year because they believed it was not in the best interests of the club, its supporters or shareholders.
The Hammers, who are playing in the Europa League this season, are off to a positive start to the 2021-22 campaign with eight points from their opening five games.
They also knocked Manchester United out of the Carabao Cup at Old Trafford on Wednesday.
PAI Capital's managing partner Nasib Piriyev said in a statement: "I am disappointed that we cannot conclude the deal as hoped, as we have some big ideas for the club.
"This is something we have been working on for over nine months, with a committed team behind the bid.
"West Ham is close to my heart and I hope that our interest has been healthy for the club - I believe that all competition is good for focusing minds and improving performance.
"Of course, we respect the owners' wishes and simply put on the record that we are here if, and when, they decide the time is right for them to sell.
"Until then, I wish all the best to the club, and I thank the fans for their patience, understanding and support."