West Ham have received an appearance fee of more than US$1 million for their participation in the Barclay's Asia Trophy this summer.

That represents a welcome boost for the club, which appears to be stabilising its accounts following the takeover in which former chairman Bjorgolfur Gudmundsson was forced to hand the club over to a group of Icelandic banks, having seen his fortune wiped out in the credit crunch.

The club has now offered a new contract to Lucas Neill, having failed to agree terms with the Australian earlier in the summer, and is believed to have tabled a loan bid for Barcelona striker Eidur Gudjohnsen.

"He has got our trust and we like him, so it is down to him," said club coach Gianfranco Zola of Neill.

The participation of West Ham, Tottenham and Hull in the competition, held as part of the Beijing International Football Festival, has been hailed by the director of the Beijing Football Association as a chance to make Beijing “the capital of Asian football”.