West Ham United co-chairman David Sullivan has claimed that his club were never in the running to sign Jamie Vardy from Leicester City because of the "potty" value placed on the England international.
Arsenal are believed to be close to bringing Vardy to the Emirates after activating the 29-year-old's release clause of £20m.
Sullivan has revealed that the Hammers were never seriously in the running for the Leicester striker, but says that the capital club are currently actively pursuing 'five players'.
"The numbers being talked about in a potential move to Arsenal show that the market is going potty," Sullivan told West Ham's official website.
"It is safe to say that signing him would have smashed our current wage structure and we are determined to buy players with good value in this mad market. With five bids in for players at the moment, we are hopeful that we can bring you some exciting news soon."
However, Sullivan's son, Jack Sullivan, has claimed that Arsenal duo Theo Walcott and Alex Oxlade-Chamberlain are not on West Ham's wishlist.
