Chairman David Sheepshanks says he isn't ruling out approaching Kia Joorabchian if the Iranian-born businessman's Media Sports Investment consortium fails in its bid to buy West Ham United. However, there seems no evidence that Joorabchian has any interest in the Blues.

Chief executive Derek Bowden revealed earlier in the season that a controlling interest in the club would cost an investor £4-£5 million, while Sheepshanks effectively put a price of £6 million on the club this week.

Sheepshanks says that Joorabchian, whose bid for West Ham is reported to have stalled, has not had any contact with Town and in any case may not be interested in a Championship side which doesn't own its ground: "I have not approached him but I am perfectly happy to talk to the guy.

"Very often, people interested in making that kind of investment are only interested in Premier League clubs."

Media Sports Investment are also the owners of Brazilian league side Corinthians and are reported to have links with Russian oligarch Boris Berezovsky.

Sheepshanks has ruled out further investment by Michael Spencer, currently the club's biggest shareholder. Spencer, who runs investment brokers Icap, put £250,000 into the club via the share issue.

Town have been trying to attract further investment and continue to look for and talk to interested parties.

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