West Ham United will not fight to keep hold of Matthew Upson, the club's star central defender, with the financial pressures on the club ensuring that a substantial bid will see the England centre back leave Upton Park.

David Sullivan, West Ham's new owner, insists "it's not awful" that Upson will be sold, saying that the deal makes business sense for the club. Since taking control of the club, Sullivan has made no secret of the club's debts of more than £100 million, a legacy of the Hammers' previous ownership. West Ham's former owner, Bjorgolfur Gudmundsson, lost his wealth in the collapse of Iceland's economy, leaving West Ham in the hands of Icelandic banks.

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"If we can get a substantial sum for him then we've got to take it. It's business sense," said Sullivan to Sport.co.uk. "He wants to have one last crack at the big time - Champions League football - and you can't begrudge him that.

"He's in his prime as a centre-half, but he is probably in his last four or five years and it's not awful that he has to be sold."

Arsenal, where Upson spent six years early in his career before leaving to secure first-team football, have been touted as the defender's likeliest destination.

West Ham lost 2-1 to Premier League rivals Burnley at the weekend, leaving the club 18th in the table.